The Real Estate Bank of Iraq has outlined its strategic plan for 2025, with a focus on expanding financial services, accelerating digital transformation, and promoting green financing.
Director General Abbas Shihab Al-Jawahiri chaired a meeting with department heads, branch managers, and unit officials to assess progress in 2024 and establish priorities for the year ahead.
According to a bank statement, key achievements in 2024 include:
- Full implementation of the POS electronic payment system across all branches and over 6,000 commercial outlets.
- Complete rollout of electronic collection services via mobile banking.
- Completion of the first phase of the mortgage automation project.
- Approval for branch reconstruction and modernization in coordination with the Ministry of Construction and Housing.
Strategic Priorities for 2025:
- Eliminating annual interest on housing loans using recovered funds from 2023-2024.
- Introducing green energy loans for citizens investing in sustainable energy systems.
- Enabling online applications for housing loans via the Ur platform.
- Enhancing banking operations across all branches.
- Issuing Visa cards following the necessary licensing approvals in 2024.
- Facilitating salary domiciliation for public and private sector employees with incentives.
- Expanding ATM installations at key locations.
Al-Jawahiri highlighted the importance of institutional development and continuous employee engagement in improving banking services. He commended the staff for their efforts and reaffirmed the bank’s commitment to modernizing Iraq’s banking sector and supporting economic growth.
(Source: Real Estate Bank of Iraq)
