Brief History**

In 1935 Bank of Agriculture and Industry was established. Bank of Agriculture and Industry has been providing financial services to Iraqi farms and agri-businesses for more than 80 years and we've seen a lot of change along the way. From small family farms to large-scale producers and processors, we have responded to our customers' changing needs. But one thing remains constant – our commitment to serve those that feed our nation.
In 1946 the blossoming era of agriculture and industry in Mesopotamia led to a gigantic financial demands on the Bank of Agriculture and Industry. And to be able to meet the needs of Iraqi farmers and industrial companies, we made decision to divide the bank into two independents financial institutions: Bank of Agriculture which provides loans and consulting to Iraqi farmers and Bank of Industry which helps to develop Iraqi industry.
Bank of Agriculture has extend its business to include a large-scale of agri-business such as farmers association, producers and processors companies.
In 1994 Bank of Agriculture stopped issuing loans to farmers due to economical changing and reviewing the bank policies, and limited its business to consulting, managing and developing agriculture projects.

A significant change took place for BOA in March 1996. The government of Iraq passed a bill allowing to the bank to provide business, exchange in foreign currencies and giving the bank the permission to go globally.
Subsequently, in 2007 BOA reached a milestone and announce new services to include local business and individuals across the country. BOA now is providing full financial services for all customers who work in agri-business. The bank also increased its lending budget to 54 billion dinar and lowered the interest rate to 5%. In addition, the bank lowered the interest on all agriculture business and rural development loans to 8% after it was 16%.