Trade Bank Iraq named Best Iraqi Bank by Global Finance Publication

Abu Dhabi, United Arab Emirates: Trade Bank of Iraq’s (TBI) continued commitment to accelerating economic growth and providing modern banking service in its home country have been recognised as it was named Best Iraqi Bank by a leading global financial publication.

New York-based ‘Global Finance’ magazine rewarded TBI’s strong financial performance and its continuing initiatives to improve its international capabilities, presenting the award during a special ceremony held in Bali, Indonesia attended by leading financial institutions and other key influencers within the banking space.

Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, received the award at the 2018 Annual Meetings of the International Monetary Fund and World Bank Group on Saturday (13^th). He said: “Receiving such a prestigious award reiterates the bank’s achievements in lifting the economy and its efforts in offering the best in financial services.

“This award will enhance our reputation and the growing global credibility we have garnered over the last couple of years through our strategic partnerships.

“Our presence in the Middle East and the strategic relationships we have developed have been an important step in attracting more investments into Iraq and a source of confidence in the Bank's long-term strategy, which focuses on contributing to the continued development  and economic growth of Iraq.”

TBI was established in July 2003 with the aim of helping in the reconstruction of Iraq by facilitating international trade and continues to be at the forefront of large-scale infrastructure developments across the country.

The institution’s financial network and expertise plays a significant role in sourcing and securing funding for projects. It established its first international office in the UAE in 2017 and has since signed several agreements with international banks and finance firms to help fund infrastructure projects inside Iraq.

Faisal Al Haimus added: “This award is recognition of the hard work carried out by the entire team at TBI and they should all be proud of it. I appreciate the continuous efforts of all our talented employees and thank them for working towards raising the bank's status and continually improving the level of services it provides to our customers."

Winning banks were selected by Global Finance based on the following key criteria among others: financial performance, innovation in product and services offerings, governance and compliance, and strategic initiatives.

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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.

© Press Release 2018