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Baghdad: Trade Bank of Iraq (TBI) officially opened its new headquarters in a special ceremony held today in Baghdad.
The opening ceremony was held in the presence of the Iraqi Prime minister representative and Adviser Dr Ihssan Al Hakim among other guests including Iraqi public, privet and international banks Directors, Government officials, Diplomats
Located in the heart of the city of Baghdad on Al Rasheed Street, which holds a strong cultural and historic value, the new headquarters wholly owned by the bank is designed to facilitate collaboration as it will bring 670 Baghdad-based employees of TBI under one roof for the first time.
The new HQ comprises of 5 floors with the ground floor set to provide banking services to customers while the remaining floors are dedicated to administrative work.
Walid Eidi, representative of Central Bank of Iraq Governor and the Central Bank Adviser said: “The opening of TBI’s new headquarter is a major step as it increases the number of assets for the Iraqi government.
“This investment is in line with the government’s 3-year National Development Plan which aims for an enhanced asset management among other policies to reach our targeted growth rate for 2022, reaping economic and social benefits for the people of Iraq.”
Faisal Al Haimus, Chairman and President, TBI, said “The new headquarters is a significant milestone for us. It is equipped with state-of-the-art infrastructure that will benefit both our employees and customers.
“Our new corporate headquarters, strategically located in the heart of Baghdad’s city center, is equipped with the latest technologies and modern banking techniques, adopting safety measures in accordance with local and international standards.
“It is designed to facilitate customer and employee experience and elevate it to the highest standards possible in line with our goals at TBI.”
This major milestone comes at the back of the opening of TBI’s first international branch in Riyadh, Saudi Arabia. The branch in Saudi Arabia is aimed at developing and strengthening relations between the two countries as well as facilitating transactions for Iraqi nationals performing Hajj and Umrah.
The bank recently transferred over 90 million USD, 50% of their net profit for the year 2018, to State Treasury to support and strengthen the economy of Iraq.
TBI is making great strides towards reaching its strategic goals both in business and in assisting the ongoing reconstruction of Iraq as it continues to define its reputation as a competent institution with access to global financial networks.
As TBI moves forward with its strategic plan that will take the bank up to 2021, it continues to play a pivotal and influential role in Iraq’s ongoing recovery and regeneration.
About Trade Bank of Iraq:
The Trade Bank of Iraq is fully owned by the Government of Iraq, was established in 2003 and is now one of the largest banks in the country. The bank holds approximately 80% of the trade finance business in Iraq and ranked 1 among Arab banks 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. The bank had paid up capital of USD 2.346 Billion and total Assets of USD 19.2 Billion at end of 2017.
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