From September to December 2013, Dunia Frontier Consultants conducted a series of comprehensive surveys of Iraqi private bank investors as well as corporate and retail customers. From the customer standpoint, we sought to understand retail and corporate deposit and borrowing attitudes as well as brand recognition. From the investor perspective, we wanted to identify the key concerns about Iraqi banks as potential investments and gauge opinions on corporate governance and transparency. In total, we conducted over 60 interviews across the three groups.
We paired our survey results with additional on the ground research to examine the broader environment, including the economy, politics, and security, as well as fiscal, monetary, and bank regulatory policy, for a 360-degree, comprehensive view of the Iraqi private banking sector. We analyzed the financial statements of 14 Iraqi banks in detail, augmenting the published data with our own calculations to bridge gaps where necessary. Many insights were also gathered from Dunia’s own five-year experience as a leading on the ground researcher serving multinationals and local companies in Iraq. As a result, we believe that this research report is the only report of its kind, in terms of comprehensiveness, rigor and on the ground fact base.