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The Iraqi Company for Bank Guarantees JSC (ICBG) was established in March 2006 as a Limited Liability Company by an original group of eleven Iraqi private banks under the auspices of the Central Bank of Iraq. Its statutes were changed to JSC in September 2009. It now has fourteen shareholding banks, three financial companies and sixteen individual shareholders.

The company is organized as a Non Banking Financial Institution (NBFI), regulated by the Central Bank of Iraq (CBI) under prevailing laws and regulations.

The mission of ICBG remains to be Iraq’s premier provider of loan guarantees to privately-owned bank for loans targeted to Iraqi small and medium enterprises. ICBG had approved over 3,800 loans worth almost $46 million as 2011 came to a close. Sixteen banks are signatories to ICBG’s loan guarantee program. ICBG guarantees up to 75% of loans to SMEs, granted by these banks.

The operations of ICBG also focus on institutional development and capacity ‎building in the banks as well as its own organization, while marketing and implementing ‎the guarantee program. The Company’s outreach is extended throughout Iraq through the participating bank network; such outreach allows access to credit ‎to small and medium enterprises in all the provinces of Iraq.

Since its inception ICBG has steadily increased its operations and consolidated its relationship with the Iraqi banking sector and the business community, thanks to the commitment and efforts of those who participated in its establishment and development.

Mission Statement

The Iraqi Company for Bank Guarantees (ICBG) mission is to enhance access to credit from formal sources for small and medium sized enterprises (SMEs). It does so by partially guaranteeing loans extended to SMEs by partnering and risk sharing with Iraqi private banks. ICBG contributes to sustainable economic growth in Iraq by supporting private sector development.

Company Task

Facilitate SME lending activities of participating banks. Create new opportunities to generate profits. Help job creation and the development of the Iraqi economy.