Welcome to Union Bank of Iraq (UBI)

Union Bank of Iraq Services

Open current accounts and savings / individuals

Benefits of saving 8% in dinars 2% in dollars.

Present personal documents of the customer with the passport with the photo with the attendance of the person identified by him

Open current accounts and savings / companies

Benefits of saving 8% in dinars 2% in dollars

Submission of the Company's Articles of Association, Memorandum of Association, Certificate of Incorporation and Financial Statements of the Company with the authorized director's documents

Accept deposits of all kinds and all currencies

6 months 9 percent || one year 10 percent

Open an account for the companies and individuals of the deposit

Issuing internal and external letters of guarantee

The bank issues internal and external letters of guarantee, approved instruments, and Sufaj in dinars and dollars for government departments andother organizations. Customers must provide commercial invoices and sign pledges for transactions exceeding $10,000.

Issuing approved instruments and Sufaj

Dinars and dollars in government departments and others

The certified instrument shall be issued from the customer's account to the government departments and others Issuing the instrument Issuing the instrument by depositing the amount in cash

External conversion and all over the world

The department transfers the amounts abroad in foreign currency against a commission of 6.5 thousand with the wages of the software and publications of 40,000

A commercial invoice shall be submitted by the customer if the amount exceeds $ 10,000 with the submission of the documents and the signing of the pledges with the request of the condition

Commercial services and issuance of documentary credits

L / C shall open a credit between the buyer (s) and the supplier (s) and there shall be an intermediary bank and shall rely on the documents

Submission of commercial invoice + Certificate of origin of a bill of lading

Providing bank credit of all types

UBI provides various types of bank credit facilities, including loans, syndicated credit letters of guarantee, and real estate guarantees. The bank also offers loans to small and medium enterprises for the youth and workers sector, requiring documentary documents and guarantees.

Granting loans to small and medium enterprises

The Bank provides a loan for small and medium enterprises for the youth and workers sector

Provide documentary documents and provide guarantees (guarantor of mortgage pledge) to provide a lease contract for the project and the approval of the municipal council and dictate the electronic form of submission and opening a current account in the bank

Investment portfolio management

UBI also provides investment portfolio management, allowing customers to buy and sell shares in the Iraqi Stock Exchange. Customers must submit their documents and authorise the company to facilitate these transactions.

Buying and selling foreign currencies through entry

Moreover, UBI facilitates the buying and selling of foreign currencies through entry. The bank sells the dollar through the currency sale window in the Central Bank of Iraq, according to Central Bank regulations. Customers must present a valid passport and travel card to buy the dollar. The bank also offers its services to banking and commercial companies, requiring different documents such as a commercial contract, certificate of origin, import license, customs clearance, and tax clearance.

Part of services that the bank can offer it:

Current accounts, Saving accounts and accepting deposits in both Iraqi & Foreign currencies for Iraqi people and foreigners
Issuing local transfers & bills
Conduct outgoing and incoming International transfers in dollar and other foreign currencies though below banks :
1. Broker in selling & purchasing foreign currencies.
2. Issuing internal & external guarantee letters for all purposes.
3. Providing all kinds of banking facilities required in dinar of US dollar with accepted bank guarantees.
4. Providing (short and medium term) loans to customers, and all sectors in both Iraqi and foreign currencies.
5. Buying drawn deeds on local bank branches inside & outside Baghdad city.
6. Issuing credit letters according to Iraqi trade law and international norms in its latest versions.
7. Broker in buying & selling stocks inside & outside Iraq for our customers.

Our Services

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