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Branch in 1990. During the second Gulf War, the bank was again badly hit. It is estimated that around a third of
Rafidain's branches were destroyed during the second Gulf War and that the bank lost around $ 300m USD through looting. Today, Rafidain Bank has around 45% of banking assets in Iraq.
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to rebuild the bank, in a turnkey contract to supply a core banking system, hardware, communications systems, and training to
Rafidain Staff, across all branches inside and outside Iraq. The project covered basic retail banking and trade finance. Advanced banking functions such as
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The Louis Berger Group, Inc. (November 2011). "USAID-Tijara
Provincial Economic Growth Program; Investor Guide of Baghdad". USAID-Tijara Provincial Economic Growth Program; U.S. Agency for International Development (USAID). p. 13. Contract No.
146:. Its headquarter is in central Baghdad. The bank was established in 1941 and became a state-owned bank in the 1960s wave of Ba'ath nationalisation. In 1988, the Rafidain's non-performing assets were carved out into the
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Before the First Gulf War, Rafidain Bank "was the Arab world’s largest commercial bank with total assets of USD 47 billion."
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