By John Lee. The State-owned Trade Bank of Iraq (TBI) is reportedly looking to acquire a lender in Turkey, the country's biggest trade partner, after abandoning a previous attempt. Chairman Faisal Al Haimus is quoted by The National as saying that the TBI is keen on a conventional bank rather than a Sharia-compliant bank, but […]
By John Lee. General Electric (GE), Standard Chartered Bank and the state-run Trade Bank of Iraq (TBI) are reported to have jointly closed a $600-million financing agreement to fund the ambitious electricity project 'Power Up Plan' in Iraq. According to Trade Arabia, the project will be implemented in two phases, providing more than 2 gigawatts […]
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 […]
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 […]
By John Lee. The Trade Bank of Iraq (TBI) has announced that it will open a branch in Saudi Arabia. Faisal Al Haimus, Chairman of TBI said: “This important addition to our bank accomplishments shall strengthen trading and banking relationships between the two countries." (Source: TBI)
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
By John Lee. British bank Standard Chartered is to apply to Iraqi regulators for permission to open three business branches in Baghdad, Basra and Erbil. Chief executive of wholesale banking, Mike Rees (pictured), told The Telegraph: "Associated with the name British is trust ... It is a very important brand which I think is underestimated. But […]
