Tag Archives | Trade Bank of Iraq

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Trade Bank in talks to Buy a Gulf Lender

By John Lee. The state-owned Trade Bank of Iraq (TBI) is reported to be in talks to buy a Gulf bank with branches in the United Arab Emirates (UAE) and Qatar. Chairman Faisal al-Haimus told Reuters that talks are underway and the purchase is expected to be completed in six to eight months. The name […]

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TBI puts Bank Acquisition Plans on Hold

By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly put plans to buy a Turkish commercial bank on hold because of the fall in the Turkish lira. TBI chairman Faisal al-Haimus told Reuters that the bank is keen to expand its footprint in Turkey, Iraq’s largest trading partner. According to the report, TBI has […]

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Trade Bank of Iraq to establish Saudi branch

By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly received verbal approval from the Saudi Arabian Monetary Authority (SAMA) to open a branch in Saudi Arabia next year. Chairman Faisal Al Haimus told The National in Abu Dhabi that the bank will launch an asset management business in Abu Dhabi. The lender […]

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New Financing for Iraqi Projects

By John Lee. GE, Trade Bank of Iraq (TBI) and Standard Chartered Bank (SCB) have reportedly signed a financing MoU to accelerate the development of power and infrastructure projects in Iraq. According to TradeArabia, a similar financing agreement with the three entities earlier this year facilitated the completion of the first phase of the ‘Power […]

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NIC grants $90bn in Investment Licences since 2009

The Elaborated Economic Conference for Investment Projects in Iraq was held in Baghdad on 17th October, organized by the Supreme Committee of Provincial Coordination and the National Investment Commission (NIC), with the attendance of a number of Parliament members, Ministers, Governors, Heads of Provincial Councils, Heads of Provincial Investment Commissions in addition to representatives of […]

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Ideal Payments Launches Mobile App in Iraq

Banking Technology reports that Ideal Payments has teamed with Taif Money Transfer to launch Iraq’s “first” mobile payments app – Taif eWallet. The platform aims to create a “holistic payments ecosystem” used by multiple agents in the economy including retail merchants, ecommerce platforms, private companies, and government institutions. Ideal Payments’ local partner, Taif Money Transfer, […]

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UK Software Firm Wins Contract with TBI

UK-based financial software company Misys announced today that it has been selected by Trade Bank of Iraq (TBI) as a strategic partner to assist the bank in upgrading to a next generation digital platform in order to gain a competitive edge in Iraq’s growing banking industry. Hamdiyah Mahmood Faraj Al-Jaff, Chairman, Trade Bank of Iraq […]

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Baroness Nicholson’s Speech to Investment Forum

Speech given by Baroness Nicholson of Winterbourne, UK Trade Envoy for Iraq and Chairman of the Iraq Britain Business Council, to the ‘Investment Forum in Iraq and Kurdistan Region’, Rotana Hotel, Erbil: ‘I am indeed grateful for the privilege of addressing this eminent audience,and I thank most warmly the President of The Kurdistan Federation of […]

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Standard Chartered plans Iraq Expansion

By John Lee. UK-based bank Standard Chartered is counting on the assistance of the British government to help it to open branches in Iraq by the end of the year, according to a report from The National. The newspaper says the company plans to open three branches in the next eighteen months, to tap into […]

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JPMorgan Expands Iraqi Business

By John Lee. JPMorgan Chase is the latest international bank after Citigroup and Standard Chartered to expand business in Iraq, reports Bloomberg. The company has just signed a one-year agreement to help the Trade Bank of Iraq (TBI) finance imports of goods and services, John Gibbons, managing director and EMEA regional executive, told the news […]

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