Baghdad: Trade Bank of Iraq (TBI) officials met with Douglas A. Silliman, the United States Ambassador to the Republic of Iraq, and a delegation of American companies at a conference hosted by the U.S. Chamber of Commerce held recently at the Babylon Warwick Hotel in Baghdad.
The meeting delegates discussed several solutions to help enhance the Iraqi economy and accelerate the delivery of high-quality services throughout the country.
During his address to the delegation, Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, highlighted the significant role TBI plays in assisting the ongoing reconstruction of Iraq as the bank continues to define its reputation as a competent institution with access to global financial networks.
Mr. Faisal said: “Trade Bank of Iraq has established strategic partnerships between the Iraqi government and private infrastructure developers around the world.
“We have also provided guarantees and generated financing through our established relationships with global financial institutions in order to generate more investment in Iraq in the last few years.
“The bank has received several international awards and recognitions based on our constant efforts to raise the standard of transparency and quality in our financial services which has helped to attract investments.”
Douglas A. Silliman, U.S. Ambassador to Iraq, emphasized that the size of the delegation of over 50 companies and 100 delegates created an atmosphere of genuine enthusiasm to invest in Iraq. The American Ambassador noted that Trade Bank of Iraq has played a significant role in serving the interests of the country through the import and export operations, as well as forming global partnerships aimed at improving the economy of Iraq.
The visiting delegation included a number of businessmen and heads of American companies from multiple business sectors.
The conference, held in Baghdad December 9 & 11, concluded with a series of economic recommendations and discussions during which delegates reviewed the strong relationship between Iraq and the United States of America and discussed prospects for supporting and developing various business sectors, expanding areas of economic partnerships, and raising the level of trade exchange between the two countries.
About Trade Bank of Iraq (TBI)
The Trade Bank of Iraq was established in 2003 and is the top commercial bank in the country. The bank holds approximately 80% of the trade finance business in Iraq and ranked 1 among Arab banks in terms of cost to income ratio and 332 globally in terms of Tier 1 capital. It has established 25 branches across Iraq, offering a wide range of banking services to all customers including companies, individuals and government institutions to widen its customer base and expand into new markets.
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