Trade Bank of Iraq (TBI), wholly owned by the government of Iraq, was established in July 2003 to facilitate Iraq’s international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Program.
Upon establishment, a consortium of international banks led by JPMorgan Chase Bank, New York assisted TBI in starting its operations. TBI quickly developed into a highly credible and effective organization and built banking relationships with reputable banks within geographical locations that serve our clients’ interests and needs.
TBI has contributed to revitalizing the Iraqi economy by facilitating imports and exports and also through offering new and innovative services to the public and private sectors.
Board of Directors
The administrative staff of the Bank consists of a distinguished elite with experience in the financial and banking fields who have set their sights on the interest of Iraq and the objectives of the bank and the country alike.
- Mr. Mohammed Mohammed Jawad Kadhim, President, Chairman of the Board
- Mr. Najeeb Shukr Mahmood, Member, Representative of General secretariat for the Council of Ministers
- Mr. Jameel Thajib Yousif, Member, Representative of Ministry of Finance
- Mr. Firas Ali Mohammed Sadiq, Member, Representative of Ministry of Oil
- Mr. Rashad Khalaf Hashim, Member, Representative of Ministry of Trade
- Mr. Mustafa Mohammed Ali Maatoq, Secretary of the Board
Today, the bank has developed its network of correspondent banks gaining it a wider geographical coverage and offering it more services at competitive conditions. The bank has established a wide network of correspondent banks throughout the world and built close ties with top international banks; currently the network of correspondent banks is in excess of 400 located in more than 60 countries. The banking network includes: JP Morgan, Citibank, UniCredit, Deutsche Bank, Commerzbank, Industrial and Commercial Bank of China, Standard Chartered Bank, MUFG and many regional banks like: Arab Bank, First Abu Dhabi Bank FAB, Ahli United Bank, Emirates NBD, Mashreq Bank, National Bank of Kuwait, The Saudi National Bank.
Moreover, in 2017, the Trade Bank of Iraq Letters of Credit, Guarantees and remittances departments received ISO 9001-2015 certification being the first bank in Iraq to achieve the certification for its transaction banking activities.
The share capital of the Bank in 2021 was raised by an amount of IQD 796 billion (equivalent to USD 653 million) to IQD 3.55 trillion (equivalent to USD 3 billion). Trade bank of Iraq is rated by the international credit agencies Fitch and our credit rating’s is B-, B.
TBI has won many awards for the last two years and as follows:
- Bank of the Year (Iraq) by The Banker
- Best Trade Finance Provider in Iraq by “Global Finance” Frankfurt
- Ranked number 319 in terms of Tier One Capital by The Banker Magazine Top 1,000 World Banks 2020
- Ranked number (1) Bank in Iraq according to The Banker Top (100) Arab Banks Ranking
- Ranked number (1) Arab Bank by growth in Pre Tax Profit according to The Banker Top (100) Arab Banks Ranking
- Ranked number (1) Arab Bank by Cost to Income ratio according to The Banker Top (100) Arab Banks Ranking
- Safest Bank in Iraq by The “Global Finance Magazine”.
At present, the total branches are twenty-four (inside Iraq) and Representative Office in Abu Dhabi and also we have an international branch in Riyadh.
For further details, we kindly ask you to visit our website www.tbi.com.iq.