Tag Archives | Trade Bank of Iraq

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 […]

Standard Chartered Expanding in Iraq

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 […]

TBI Opens Branch at Baghdad International Airport

The Trade Bank of Iraq (TBI) has announced the opening a new branch at Baghdad International Airport, and confirmed that it will also open a branch at Najaf Airport. Hamdiya al-Jaff, the head of the TBI, said the Baghdad Airport branch will provide the full range of banking facilities, including remittances, opening current accounts, and […]

Trade Bank of Iraq Doubles Capital

By John Lee. The Iraqi Cabinet has agreed to double the capital of state-owned Trade Bank of Iraq (TBI) to one trillion Iraqi dinars [$858 million], according to a report from Bloomberg Baghdad-based TBI is under investigation for alleged irregularities, and an arrest warrant has been issued for its former president and chairman, Hussein al-Uzri. […]

TBI Denies Payments from Syria for Fuel

By John Lee. The Trade Bank of Iraq (TBI) has denied a report it had received cash or letters of credit from Syria for fuel supplies from Iraq, according to a report from Bloomberg. Chairwoman of the bank, Hamdiyah Al-Jaff, said in an emailed statement: "The Trade Bank of Iraq has not conducted such transaction(s)." […]

Trade Bank of Iraq issues Visa Gold Card

By John Lee. The Trade Bank of Iraq (TBI) has issued a Visa Debit Gold Card for dollar-denominated accounts currency, according to a statement from the bank, reported by AKnews. The statement quoted director general of the bank, Hamdiya al-Jaff [Hamdiya Al-Jaf, Hamida al-Jaf], as saying: "The issuance of such cards encourage citizens to deal […]

Trade Bank of Iraq recovers $400m

The Iraqi state-run Trade Bank of Iraq (TBI) has recovered around $400 million of a $900 million default on loans handed out with little or no security by the previous management, the bank's new chief has said. Former TBI president Hussein al-Uzri fled Iraq in early June after Prime Minister Nuri al-Maliki ordered a judicial […]

Finance Clouds Utilities Push

The following article was published in the latest edition of Inside Iraqi Politics, and it is reproduced here with the publisher’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Full Text of Inside Iraqi Politics Issue No. 19 (PDF) The government’s aggressive energy […]

Trade Bank of Iraq "Operating Normally"

According to a report from Reuters, the new president of the Trade Bank of Iraq said on Monday that the bank is operating normally and expansion plans are moving ahead, its new president said on Monday to allay fears of correspondent banks after its former chief fled amid allegations of financial irregularities. To allay fears […]

Political Shadow Remains Over Key Bank

The following article was published in the latest edition of Inside Iraqi Politics, and it is reproduced here with the publisher’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Full Text of Inside Iraqi Politics Issue No. 18 (PDF) Prime Minister Nuri al-Maliki’s […]