The Real Estate Bank is a fully state-owned, self-financed economic unit with legal personality and financial and administrative independence. It operates on economic principles, as banks are considered the cornerstone for supporting and developing the national economy in all countries of the world. However, the success of their mission depends on adapting to global developments in various fields, while continuing to upgrade and renew the services provided with credibility and inclusiveness to all segments of society.
The bank works on setting plans aimed at facilitating banking procedures in all their forms in a simplified manner to reach the widest number of beneficiaries. The Real Estate Bank is distinguished for supporting the real estate sector in all its forms and for carrying out commercial banking activities in accordance with the Banking Law and its internal regulations.
The bank owns 16 branches distributed across Baghdad and Iraqi provinces, excluding the Kurdistan Region. All branches and staff strive to achieve the set goals and plans. This profile reflects the bank’s vision of contributing to the construction and development of the Iraqi banking sector in line with scientific and technological advancement, while achieving excellence in meeting customer needs through quality banking products and accurate, rapid services and procedures, all in accordance with the core values it upholds to gain citizens’ satisfaction and meet their demands in service of the public good.
Official website address of the Real Estate Bank: https://reb.gov.iq
Key Activities and Achievements
● Launch of the Central Bank of Iraq’s initiative to finance the purchase of housing units inside and outside investment complexes.
● Launch of e-collection and e-payment services.
● Implementation of the electronic payment system in all branches of the Real Estate Bank through the deployment of POS terminals.
● Launch of an online platform for submitting housing loan applications via the Orr Electronic Government Services Portal under the General Secretariat of the Council of Ministers (National Data Center).
● Launch of electronic inquiry services through the Orr Electronic Government Services Portal.
● Announcement of government initiatives to finance renewable energy (solar energy) projects, supported by the Central Bank’s initiative, as well as launching the Real Estate Bank’s own initiative from its internal resources for the same purpose.
● Deployment of electronic display screens in all branches of the bank showing instructions, announcements, and guidance to customers.
● Organization of training workshops, seminars, and participation in exhibitions and conferences organized by the Ministry and other state institutions.
Laws, Investments, and Agreements
● Laws under which the bank operates include:
Real Estate Bank Law No. (161) of 1977
Banking Law No. (94) of 2004
Central Bank of Iraq Law No. (64) of 1976 (as amended)
Anti-Money Laundering and Counter-Terrorism Financing Law No. (39) of 2015
Internal Regulations of the Real Estate Bank No. (2) of 1999
All other effective laws related to the work of the Real Estate Bank, under which its operations are regulated.