Iraq’s economy decreased an approximate 2.4% in 2014. Anyhow, enough of the economy remains moderately untouched by the contention, especially in the southern oil-delivering zones where Islamic State has not infiltrated, for banks to continue working, and the long haul capability of Iraq’s oil stores is as yet drawing some new venture.

However, enough of the economy remains have been moderately unharmed by the conflict, mainly in the southern oil-producing areas where the Islamic State has not entered, for banks to function continuously, and the long-standing potential of Iraq’s oil reserves is still attracting a number of fresh investment.

According to vice-chairman executive Ayman Abu-Dhaim, the National Bank of Iraq will open 5 branches this year within Baghdad and southern areas, incorporating two in the city centre and one close to the vast Rumaila oilfield.

Jordan’s Capital Bank possesses 62% after it puts resources in 2004. At present have 9 branches in Iraq that include 2 in the Kurdistan district.

Abu-Dhaim, who is Capital Bank’s CFO said, “Iraq is a strategic investment for us…If one can achieve this in the current conditions, imagine what one could do when the problems are solved.”

The central bank has guaranteed support for private banks, including the provision of state deposits. However, this hasn’t happened until now.

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