Free directory of all 70 correspondent bank SWIFT/BIC codes registered in IRAQ. Click any bank to view its full record and track an international SWIFT payment routed through it.
Iraq's IBDAS processes IQD payments through the Central Bank's infrastructure. Trade Bank of Iraq (TBI) and Rasheed Bank are the primary SWIFT correspondents, routing oil revenue receipts (Iraq is OPEC's second-largest producer) and reconstruction-related trade finance payments through Basra and Baghdad banking centres. USD is widely used alongside IQD for large commercial transactions due to the dinar's limited international convertibility.
| RTGS / Settlement System | IBDAS (Iraqi Banking and Data Application System) |
|---|---|
| Currency | IQD — Iraqi Dinar |
| Central Bank | Central Bank of Iraq (CBI) |
| Typical SWIFT Timing | 3–7 days (international SWIFT) |
Most international SWIFT wires arrive in Iraq within 2–5 business days. Payments cleared through correspondent banks may take longer depending on intermediary routing and local cut-off times.
Iraq processes large-value interbank settlements through IBDAS. Retail transfers typically use ACH or local clearing networks, while cross-border wires enter via SWIFT.
The primary settlement currency is IQD — Iraqi Dinar. Foreign-currency wires are converted at the receiving bank's prevailing rate unless a specific currency account is held at the beneficiary institution.
Total correspondent banks indexed: 70