Founded Rafidain Bank under Law No. (33) for the year 1941 and commenced its work in  19.05.1941 with a paid up capital of (50) fifty thousand dinars, over the bank several stages during his career history was first his presence as the first national bank practiced commercial banking among the many banks foreign, and began the gradual expansion within the country and has gone through integration of multiple began in 1964, including commercial banks that were operating in Iraq, where it was in 1974 consolidated with the Rafidain Bank, which became a commercial bank only in Iraq, where he continued working alone in the field of banking until 1988 which saw the establishment of a government bank is another Rasheed Bank, which began its branches of the Rafidain Bank, which moved its business to him ....

In 1998 saw the bank's new development is turning into a public company owned by the state in full accordance with the provisions of the Companies Law No. (22) of 97 in order to contribute to the national economy in the field of commercial banking and investment of money and provide funding for various sectors in accordance with development plans and in the framework of economic and financial policies and cash of the state, where the bank will accept deposits and invest the money of all kinds and cash surpluses in the various aspects of investment law, according to his drawings. The credit activity the most important investment operations carried out by the bank and is one of the main tasks for his work and growth, as instructed many decide which grant medium-term loans for periods ranging from 2-5 years and long-term for periods ranging from 5-10 years for those who wish to citizens and businesses for the purpose of conversion the purchase of machinery, equipment, machinery or commends the buildings suitable for the purposes of agricultural and various industrial, in addition to granting loans to doctors, dentists, pharmacists and engineers, according to the conditions and specific controls ... falls within this framework, grant facilities in the current account and discount commercial paper and follow one of the types of Alottman monetary Home granted the bank's clients and customers. Standing in the bank at the forefront of government institutions in the use of automation in modern Iraq and of the draft calculator electronic, which is a huge project parallels and status of the bank and its business and its branches, where there is currently has systems effectively cover all the activities of the bank and are developing systems continuously and update the information, and contribute effectively to the development and outsourcing government and private banks in the field of banking and investment regimes of art, is currently the number of bank branches (147) branches within the country in addition to ( 8 ) overseas branches, namely: Cairo, Beirut, Abu Dhabi, Bahrain, Sana'a, Amman, Jabal Amman, Aqaba .