Investment Account

 

A specific division of banking related to the creation of capital for other companies. Investment banks underwrite new debt and equity securities for all types of corporations. Investment banks also provide guidance to issuers regarding the issue and placement of stock.

In addition to the services listed above, investment banks also aid in the sale of securities in some instances. They also help to facilitate mergers and acquisitions, reorganizations and broker trades for both institutions and private investors. They can also trade securities for their own accounts. 

Investment Portfolio

KIB investment policy has aimed at diversification of its portfolio in order to avoid the risk of concentrating investments in one sector. Therefore, it has adopted the policy of spreading risk by investing in a diversified portfolio containing various economic sectors. Further, KIB has subscribed to the share-capital of companies listed below. 

The cost of investment portfolio maintained by the Bank until the last session of Iraq Stock Exchange on 26/12/2013 was (3,861,252,712 IQD), while the market value of the portfolio, at same date, amounted to (4,114,456,217 IQD), that means a net surplus amounted to (253,203,505 IQD). KIB and Investment Law in the Region 

KIB is covered by Kurdistan Region Investment Law No.(4) of 2006 and have privileges including tax free and allocation of plots of land for establishing the Bank’s branches, under the resolution of Investment Authority in the Region No. (177) on 7/6/2009 issued to the Bank under the letter No. 1435 in 2/6/2009. 

Accounting Policy

KIB’s accounts, bookkeeping and financial statements are prepared in accordance with generally accepted principles and in compliance with laws and regulations issued by the Central Bank of Iraq depending on the unified accounting system used by the banking sector and all relevant and related rules and regulations including:

• Adopting accurate basis to record revenues and charges except revenues resulting from stock investments where they are recorded on the date of receiving the profits.
• Calculating the depreciation by fixed installment method.
• Adopting the declared rate of exchange of foreign currencies by the Central Bank of Iraq.
• The returns on investment deposits are calculated on annual basis as a charge to profit and loss accounts.
• Profits on imported cars project were not calculated for the current year and the project balances were carried forward as Work-in-Progress until completion.

 

The service with the investors who deal with investment’s department and with the shareholders of the bank


Requirements for service:

For Iraqis : present of the identification documents ( Identity, Iraqi Nationality identity, residential card) and Fill the kyc with the form of the (disclosure of funds resources )

for foreign investors :a copy of the passport certified by the Iraqi embassy in the foreign country and fill kyc form with the form of the (disclosure of funds resources )