There are 12 foreign banks present in Iraqi banking sector. Most of the banks are from Lebanon, followed by banks from the Gulf and Turkey.
According to the FT, "to date, no Western bank has opened a branch in Iraq, even in Kurdistan, whose scenery and stability has made it an emerging tourist destination for foreigners. Instead, the London-based HSBC, one of the world's largest financial institutions, owns a 70 percent share in Dar Es Salam, a private Iraqi investment bank. Qatar, Kuwait, Jordan and Bahrain own large shares in Iraqi banks."
"For the time being Western banks seem content to enter Iraq indirectly, via equity stakes in local Iraqi private banks or through a consortium with the state-owned Trade Bank of Iraq," says Geoffrey Batt, a New York-based fund manager who has been doing business in Iraq since 2008.
List of Foreign Banks in Iraq and Kurdistan
Arab Banking Corporation (b.s.c) (Bahrain)
T. Cziraat Bank Asi A.S
Bank Melli (Iran)
Byblos Bank (Lebanon)
Bank of Beirut & the Arab Countries (Lebanon)
Turkish Is Bank A.S. (Turkey)
Bank Credit Libanais (Lebanon)
Blom Bank (Lebanon)
Abu Dhabi Islamic Bank (UAE)