Iraq’s Real Estate Bank Outlines Strategic Plan for 2025

The Real Estate Bank of Iraq has unveiled its strategic plan for 2025, focusing on expanding financial services, digital transformation, and green financing.

Director General Abbas Shihab Al-Jawahiri chaired a meeting with department heads, branch managers, and unit officials to review progress in 2024 and set priorities for 2025.

According to a statement from the bank, key achievements in 2024 include:

• 100% implementation of the POS electronic payment system across all branches and 6,000+ commercial outlets.

• Full deployment of the electronic collection service via mobile banking.

• Completion of the first phase of the mortgage automation project.

• Approval for the reconstruction and modernisation of bank-owned branches 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 purchasing sustainable energy systems.

• Enabling online applications for housing loans via the Ur platform.

• Enhancing banking operations across branches.

• Issuing Visa cards, following the acquisition of necessary licenses in 2024.

• Facilitating salary domiciliation for public and private sector employees with incentives.

• Expanding ATM deployment across key locations.

Al-Jawahiri emphasised the importance of institutional development and continuous employee engagement to improve banking services. He praised the staff for their contributions and reiterated the bank’s commitment to modernising Iraq’s banking sector and supporting economic growth.

(Source: Real Estate Bank of Iraq)