Framework of the Board of Directors of Private Banks in Iraqi Law – A Comparative Study

The College of Law at the University of Baghdad held a discussion session for a master’s thesis entitled:
“The Legal Framework of the Board of Directors of Private Banks in Iraqi Law – A Comparative Study”,
submitted by Hadeer Mowafaq Majeed, in the Private Law, on Monday, September 9, 2025, in the Model Courtroom Hall.

Examination Committee

The discussion was conducted by the following esteemed professors:

  1. Prof. Dr. Majid Ahmed Ibrahim – Chairman

  2. Asst. Prof. Dr. Haifa Mazher Falahi – Member

  3. Asst. Prof. Dr. Andalus Hamed Abd – Member

  4. Prof. Dr. Akram Mohammed Hussein – Member and Supervisor

Thesis Overview

The study aimed to establish a well-defined legal framework for the Board of Directors of private banks, through an in-depth analysis of banking laws, company laws, and regulations and instructions issued by regulatory authorities, in addition to examining the judiciary’s stance on related matters.

The thesis was structured into three chapters:

  • Chapter One: Provided a definition and overview of the Board of Directors in private banks.

  • Chapter Two: Addressed the governance of private bank boards.

  • Chapter Three: Focused on the administrative and civil liability of the board.

Key Recommendations

The thesis concluded with several recommendations, the most notable of which are:

  1. The Iraqi legislator should stipulate nationality as a requirement for membership on the board of directors—similar to comparative legislation—in order to safeguard the national economy, given the critical role played by this governing body.

  2. The legislator should increase the number of guarantee shares required for board membership, to better fulfill the purpose behind this condition and to ensure greater commitment and accountability from board members

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