Current (Checking) account for individuals

This account earns no interest, but allows the customer to freely make deposits and withdrawals. With this account, customers can issue checks to use for payment or collection. Current accounts are not aimed at savings or investment, but rather only to facilitate business transactions. This type is considered one the main liquidity accounts.

Savings Account

This account is used to save money and earn a profit margin on the balance deposited into the account. It also allows for withdrawals and deposits. This account is not subject to a fixed period, and it is one of the simplest types of bank accounts.

Difference between Current Account and Saving Account

Current Account:
  • Check book available
  • No interest
  • ATM Debit Card Available
  • Online Service
Savings Account:
  • No Check Book
  • Earns Interest
  • ATM Debit Card Available
  • Online Service

Fee to open a new account: $15 or IQD 15,000

Requirements to Open an Account for Iraqi Citizens:
  • National ID or residence card (in the absence of national ID).
  • 2 personal photos.
  • Civil Status ID + Iraqi Nationality.
  • Letter of Support/Approval from workplace + salary certificate.
  • Information card.
  • Passport.
Requirements to Open an Account for Foreign Citizens:
  • Passport.
  • 2 personal photos.
  • Personal Identity Card.
  • Rental agreement.
  • Residency Card.
  • Document of support from workplace.