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Identity
2
Financials in 2013 in IQD Billions
Total Assets 268.111
Total Cash 15.170
Net Profit 9.323
Total Loans taken 0
Liquidity Ratio 172%
Return on Average Asset 3%
Return on Average Equity 6%
Registered Address:
Building 4, Street 2,
Hai Al Wehda, Mahala 902
Post Box 3400
Alwieh, Baghdad
Republic of Iraq
Tel: +964 171 84 601; 171 73 201
Fax: +964 171 83 766
Email: [email protected]
Website: www.eib-iq.com
Equity Capital:
IQD 250 B
SWIFT Code:
ELAFIQBA
ISX Ticker:
BELF
Establishment:
2001
Licensed and regulated by Central Bank of Iraq
Contents
Our Identity
Vision and Mission
Timeline
Board of Directors
Management
Compliance
Risk
Business-Retail Banking
Electronic Banking
Trade Finance
Foreign Exchange
Project Finance
Corporate Governance
Financials- Key Numbers
Ratios
Graphical Overview
Human Resources & Information Technology
Social Responsibility
Future Plans
Branch Addresses
Contacts
3
Vision and Mission
“We believe society needs a fair and equitable financial system: one which rewards effort and
contribute to the development of the community”
“ To meet the financial needs of the communities across the
world conducting business ethically in accordance with our
beliefs, practicing the highest professional standards and
sharing the mutual benefits with customers, staff and
shareholders who participate in our business success” Growth
Success Vision Mission
4
Timeline
2001
Equity
Capital
IQD 2B
2007
Equity
Capital
IQD 8B
2009
Equity
Capital
IQD 20B
2010
Equity
Capital
IQD 50B
2011
Equity
Capital
IQD 100B
2013
Equity
Capital
IQD 152B
2014
Equity
Capital
IQD 250B
Incorporated as ‘Al Baraka for Investment & Finance’
Named changed to Elaf Islamic Bank
Acquired by new shareholders
5
Board of Directors
Chairman
Saad A.Alhussain Qassim
Vice Chairman
Emad Qasim Salman
Member
A.Alrazaq Ali Fared
Member
Ahmed A.Alhussain
Qasim
Member
Faisal Al Alwan
Member
Hassan Ammar
Mahdi
Member
Akram Matloob Rasheed
6
Management
General Manager
Akram Matloob Rasheed
Deputy General Manager
Abbas Kasim Salman
Head of Credit
Rasha Sabih Ali
Head of Inspections & Control
Mahdi Hussain Hasan
Head of Internal Control
Maha Jabbar
Head of Finance
Sami Saeed Dawood
Head of Risk &
Compliance
Fayyaz Ahmed
Head of HR & Admin
Mohmed Karim
Legal Consultant
Aws Tariq Hameed
7
Compliance
Compliance program incorporating Central Bank of Iraq, US OFAC, UN & EU
regulations and MENA FATF recommendations
Rigorous dynamic compliance policies, procedures, processes and practices with
stricter reporting line and elaborative due-diligence
Risk classification based on country, industry, nature of business, individual and
amount as well as frequency of transactions
Compliance Department functioning independently under the oversight of the Risk
Committee and the Board
On-going in-house training and participation in seminars to gauge latest
developments and imbibe international practices
Interaction with various regulators both local and international to understand and
implement new regulations as well as changes
8
Risk
Risk mitigating policies and procedures formulated, implemented and practiced
on a day-today basis
Credit risk monitored on stringent standards to prevent unforeseen events
Liquidity risk managed with contingency plans and provisions as buffer
Operational risk accounted with no-outsourcing risk and cyber security monitored
efficiently by technical experts in the field
Risks from new competitors forecasted to stay ahead and achieve more market
share
Geo-political risks factored in with back ups
Stress-testing under various scenarios to gauge the Bank’s risk exposure and the
ability to withstand the various events.
9
Business-Retail Banking
Priority Banking to High-Net-Worth and Corporate Customers
Private Banking services with dedicated Relationship Managers
Integrated banking channels
Marketing products and services after client segmentation
Safe deposit locker facilities
Gold, insurance, investments products on risk appetite
Info/SMS-banking with call-centre and technical support
Aim: Widen the deposit base and increase lending activities
We build
relationship
for
the
Long-term
10
Business-Electronic Banking
ATM’s installed in key locations across the length and breadth of
Iraq
Collaboration with MasterCard for pre-paid, debit, credit cards and
co-branded cards
Payment facility for utility bills, taxes etc
Point of Sale (POS) terminals at merchant outlets
Real-time transaction processing by tie up with international
processing companies
Core Banking solution Temenos T24 integrates all the banking
channels
Aim: Increase the operational efficiency and reduce costs as well as
operational risk
We facilitate
cash free
world
anytime
anywhere
11
Business-Trade Finance
Invoice Finance to exporters, wholesalers, suppliers etc
Import Finance-advance payment and booking of forward contracts
Issuance, advice & confirmation of Letters of Credit, Letters of Guarantee, Counter-Guarantee, Advance Payment Guarantee to individuals, corporates and institutions
Transactions facilitated at competitive rates and better credit lines with wide network of correspondent banks across the globe
Single point of contact for faster and efficient processing
Aim: Leverage the core strength of the bank in Trade Finance to expand in other business segments
We contribute
to the growth
of export and
import sector
12
Business-Correspondent Banks
13
Business-Foreign Exchange
Foreign Currencies USD, Euro, GBP, CHF, JPY, AED spot and forward at competitive rates
Remittance services through Western Union to various international locations
FX trading platform ‘Commander’ of Commerzbank AG
Precious Metals trading platform ‘Trade Plus’ of Kuveyt Turk
Value addition to clients requiring trade finance products
Efficient Treasury Management System with Temenos T24 Treasury product
Aim: Opportune from market movements in the short-term
We will aide
to benefit
from the 24
hrs fx market
14
Business-Project Finance
Finance for power, roads, cities, airports, commercial
buildings etc
Loan Syndication with International and Local Banks
Mezzanine Financing with rates of return expected from
similar projects
Participate with performance guarantees, advance payment
guarantees etc
Environmental and social risk of the project assessed on the
Equator Principles
Partner with international financial institutions that caters to
developmental activities of Iraq
Aim: Increase the revenue for the medium to long term
We partake in
the
development
of the
infrastructure
15
Corporate Governance
Excellence and Professionalism
Board review, oversight and control
Finance, IT and Marketing-
Meticulous and specialist in their relevant fields
Vertical and horizontal dissemination of information for efficiency and decision making
16
Financial Highlights
REVENUES IQD '000
2013 2012 2011 2010 2009
Banking Operations Revenues 17,704,000 18,679,457
30,045,474
19,210,397 13,543,168
Investment Revenue 317,000
115,017
111,161
45,821 796,085
Net Income 9,323,000 12,663,298
24,668,044
14,515,801 11,490,462
ASSETS IQD '000
2013 2012 2011 2010 2009
Cash and Cash Equivalents 152,170,000 239,408,144
220,291,132 137,982,576 23,432,801
Current Assets 81,338,000 107,816,789
103,790,708
39,620,838 35,032,785
Fixed Assets 34,603,000 33,428,212
27,657,291
19,209,531 6,144,420
17
Financial Highlights
LIABILITIES IQD '000
2013 2012 2011 2010 2009
Current Account and Deposits 67,248,000 122,962,717 147,229,748 55,889,855 30,076,465
Account Payables 23,722,000 121,972,504 75,744,293
75,394,974 7,769,782
Provisions 3,731,000 2,335,516 6,129,036 2,209,585 1,315,814
OWNER’S EQUITY IQD’000
2013 2012 2011 2010 2009
Paid-up Capital 152,000,000 100,000,000 100,000,000 50,000,000 20,000,000
Reserves 21,410,675 33,382,408 22,636,052 13,318,531 3,447,945
18
Graphical Overview
196.8
351.7
4
380.6
268.1
168.2
8 3
00.7
6
327.4
7
230.5
7
0
50
100
150
200
250
300
350
400
2010 2011 2012 2013
TOTAL ASSETS
Total Assets in Iraqi Dinar billions Total Assets in USD millions
14
.5
24
.67
12
.66
9.3
2
12
.4
21
.09
10
.9
8.0
1
0
5
10
15
20
25
30
2010 2011 2012 2013
NET PROFIT
NetProfit in Iraqi Dinar billions Net Profit in USD millions
63.3
2 1
22.6
4
133.3
82
173.4
1
54.1
4 1
04.8
7
114.7
7
149.1
3
0
50
100
150
200
2010 2011 2012 2013
EQUITY
Equity in Iraq Dinar billions Equity in USD millions
19
Graphical Overview 18.1
29.8
9
18.4
16.7
5
0.1
0.0
07
0.0
01
0
4.7
5.2
5.8
8.7
14.5
24.6
7
12.6
6
9.3
2
0
10
20
30
40
2010 2011 2012 2013
INCOME BREAKDOWN
Net Banking Income Other Income
Operating Expenses Net Profit in IQD Billions
138 2
20
239
152
40 1
04
107
81
19
28
33
34
0
50
100
150
200
250
300
350
400
450
2010 2011 2012 2013
ASSETS BREAKDOWN
Cash and Cash Equivalents
Current Assets
Fixed Assets in IQD Billions
2 8 10 20
50
100 100
152
250
0
50
100
150
200
250
300
2001 2007 2008 2009 2010 2011 2012 2013 2014
PAID UP CAPITAL
Paid up
Capital in
Iraqi (IQD)
Billions
20
Graphical Overview
196.8
351.7
380.6
5
268.1
1
23
.8 68
.4
47
.1
62
.4
55
.8
14
7.2
12
2.9
6
67
.25
63
.3 1
22
.6
13
3.4
173.4
0
50
100
150
200
250
300
350
400
2010 2011 2012 2013
Total Assets Loans and Advances made
Total Deposits Equity in IQD Billions0
50
100
150
200
250
300
2010 2011 2012 2013
CASH
Cash at Foreign
Banks
Checks and
Remittances
Receivable
Cash at Local
Banks
Cash at the Central
Bank
Foreign Bank Notes
at the CBI
Cash in Bank in
IQD billions
21
Graphical Overview
117% 115% 123%
172%
24% 17% 31% 49%
32% 35% 35%
65%
0%
50%
100%
150%
200%
2010 2011 2012 2013
RATIOS
Liquidity Ratio
Cost to Income
Ratio
Equity to Total
Assets Ratio
11 9
3 3
33
27
10
6
0
5
10
15
20
25
30
35
2010 2011 2012 2013
Return on
Average
Assets
Return on
Average
Equity
Return on Average Equity has
gone down mainly due to
increase in equity and partly to
decline in profit
Liquidity Ratio has increased
mainly due to allocation in cash
to meet any emergencies during
crises
Decline in profits was due to
re-structuring on conservative
approach which has picked up by
end of 2013 and will be reflected
in Q1 of 2014
22
Capital Adequacy
18%
15%
15%
CAPITAL ADEQUACY RATIO
CBI
Elaf
BASEL
Return on Average Equity has gone down
mainly due to increase in equity and partly to
decline in profit
Liquidity Ratio has increased mainly due to
allocation in cash to meet any emergencies
during crises
Decline in profits was due to re-structuring on
conservative approach which has picked up by
end of 2013 and will be reflected in Q1 of 2014
23
360 employees that are the backbone are motivated and trained at seminars
conducting by international peers
Recruitment of specialist to enhance the standards and profitability
Clear lines of responsibility and escalation for accountability
Latest release of Temenos T24 for efficiency and operational risk mitigation
Data Security and Retrieval of Data is considered prime importance
Productivity augmentation at the core of operational aspect
HR and IT
24
Social Responsibility
Business practices that is responsible in preserving the environment, culture and
heritage
Train the young citizens with employability and decision making skills
Empower women to run SME and have business skills
Create awareness on the health issues
Adopt an approach for a green and sustainable economy at large
25
Future Plans
Introduction of customer friendly and innovative banking products
Adoption of new channels of banking: online and mobile
Understand the global banking environment and adopt the best practices
Opportune from the accelerated growth in Iraq
Improve operational efficiency and profitability
Embrace cultural transformation to support and enhance value creation
26
Branches and Addresses
MAIN BRANCH
Code 901
Address: Building 4, Street 2, Block 902, Kharamana Square, Baghdad, Iraq
Tel : +964 7809 163 728; 7906 104 489
Email : [email protected]
ALDOURA
BRANCH
Code 902
Address: Block 806, Al Masafi Street, Al Jazira District, Baghdad, Iraq
Tel : +964 7702 530 252
Email : [email protected]
ALALKASRA
BRANCH
Code 903
Address: Alley 11, Block 8306, Al Maghreb Road , Baghdad, Iraq
Tel : +964 7806 484 772
Email : [email protected]
Address: Abu Shaer Junction, Al Jaesar District, Al Basra, Baghdad, Iraq
Tel : +964 7813 137 561
Email : [email protected]
Address: Near Al karar Police Station, Alseha District, Al Najaf, Baghdad, Iraq
Tel : +964 7809 082 126
Email : [email protected]
ALBASRA
BRANCH
Code 904
ALNAJAF
BRANCH
Code 910
27
Branches and Addresses
GHAZI ROAD
BRANCH
Code 912
Address: Near Shorja, Al Sakaer, Alkefa Road, Baghdad, Iraq
Tel : +964 7813 418 816
Email : [email protected]
ALDIWANIYA
BRANCH
Code 911
Address: Near Post Office, Alateba Road, Aldiwaniya Babel, Iraq
Tel : +964 7811 592 668
Email : [email protected]
ALHILLA
BRANCH
Code 913
Address: Alley 9/104, Street 40, Babel, Iraq
Tel : +964 7815 765 449
Email : [email protected]
Address: Alhadi Area, Alemara, Iraq
Tel : +964 7802 823 624
Email : [email protected]
Address: Alhares Area, Alkoofa, Iraq
Tel : +964 7808 515 215
Email : [email protected]
ALEMARA
BRANCH
Code 916
ALKOOFA
BRANCH
Code 907
28
Branches and Addresses
ALKARBALA
BRANCH
Code 906
Address: Albaladeya District, Karbala, Baghdad, Iraq
Tel : +964 7800 492 686
Email : [email protected]
ALSULAYMIAH
BRANCH
Code 905
Address: Al Sulaimanya, Kaneskan, Iraq
Tel : +964 7700 001 844
Email : [email protected]
SIMAWA BRANCH
Code 914
Address: Rasheed Bank Road, Alsamawa, Iraq
Tel : +964 7810 052 622
Email : [email protected]
Address: Altajaned Road, Alkadhemya, Iraq
Tel : +964 7901 827 192
Email : [email protected]
Address: Alzayton Road, Alnasiriya, Theqar, Iraq
Tel : +964 7710 575 241
Email : [email protected]
ALKADHMEYA
BRANCH
Code 917
ALNAZIRIYA
BRANCH
Code 918
29
Contacts
Chat: [email protected]
Call: +964 171 84601; +964 171 73201
Web: www.eib-iq.com
Mail: [email protected]
30
