Mosul Bank for Development and Investment

Overview

Mosul Bank for Development and Investment is a banking institution providing various financial services, including development and investment banking, in Iraq. The bank offers a range of services such as managing and opening current and savings accounts, handling deposits in Iraqi dinar and U.S. dollars, and facilitating letters of credit and foreign remittances. Additionally, it issues letters of guarantee in both local and foreign currencies and provides foreign exchange services through its bureaux at competitive prices. The bank also offers external system transfers, including Western Union, and grants loans in Iraqi dinar and U.S. dollars to individuals and institutions engaged in commercial, industrial, agricultural, and tourism activities, as well as infrastructure projects and public utilities. Other services include discounting various commercial bills, processing outgoing and incoming remittances in Iraqi dinar and foreign currencies, and managing stocks, bonds, and investment portfolios for clients. The bank issues diverse and competitive bills, certified instruments, and accepts instruments for miscellaneous fee collection. It also sells cars in installments across its branches in central and northern Iraq. Furthermore, Mosul Bank has introduced global debit cards (MasterCard) and mobile banking services (MobiCash), with plans to develop internet banking services (E-Banking) in the near future. Established in 2001, Mosul Bank for Development and Investment is headquartered in Erbil. The bank operates multiple branches across Iraq, including locations in Baghdad, Duhok, Sulaimaniya, and Tikreet. It employs between 51 and 200 individuals and is privately held. The bank's services encompass money transfer, foreign exchange, letters of credit, letters of guarantee, debit, deposit, and savings accounts, as well as debit card services. Mosul Bank for Development and Investment is listed on the Iraq Stock Exchange under the ticker symbol BMFI. Please note that the information provided is based on available sources and may be subject to change.