Banking Services

Banking Services

Various banking services:

Trade bank of Iraq achieved early successes, like signing Framework Agreements with (26) international institutions to ensure exports. As well as it was one of the first Iraqi banks who received credit lines from reputable international banks, in spite of the absence of a credit rating to the State of Iraq, where the achievement in itself, is considered a great one for the Bank, added to the list of important and strategic achievements.


The banking operations carried out by Trade Bank of Iraq are compatible with the principles and International norms issued by the International Chamber of Commerce, and comply with the instructions and rules of anti-money laundering. The bank witnessed, since it commenced its operations, a steady growth in the volume of its banking transactions, where the net profit reached up to USD 385 at the end of 2011.


The main activity of the Bank is financing foreign trade, where the amount of letters of credit issued by the TBI up to 31/12/2011 (15,559) billion US dollars, and letter of guarantee with an amount more than (3,313) billion US dollars.


To build on its early successes, TBI has started offering new banking services and products to the Iraqi market, including:


- Project financing

- Payroll system for companies’ employees

- Visa and Master card Credit cards in two types:

Visa card: platinum & classical cards were introduced in addition to the golden card in U.S dollar.

Master card: a classical card was introduced.

- Establishing the first network of (ATM) distributed all over Iraq where it reached more than (75) machine.

- The bank issued visa credit cards for private banks sponsored by Trade Bank of Iraq.

- The bank commenced the spreading of point of sale (P.O.S) machines for hotels and malls.

- In addition to being the first bank in Iraq, that adopts an electronic banking system which connects the various banking operations of the Bank and all its branches to the global network, to provide the best and fastest banking services to various clients in multi currencies. The system provides a comprehensive service for banking operations, allowing the possibility of monitoring and follow-up on transaction data of all banking operations on a real time basis in one location.


Trade bank of Iraq is an effective tool to support the local banking sector, and of its priority the following of an upright approach to return the glimmer of this sector, to achieve a solid Iraqi economy. From this sense the bank continuous its support to for the institutions of local banking sector, whereas TBI where it was the first bank in Iraq that adopted the "working partnership” by issuing L/Cs to the public sector with private banks’ sector.


The bank started since 2006 to allocate part of the governmental L/C to be issued directly by selective local banks according to specific standards including the financial position data for each bank and its correspondent banks network. In addition, to the experience factor of each bank in issuing L/Cs. The bank also continued to help private sector banks in expanding the network of its correspondents in order to facilitate the importation of goods and services in addition to granting these banks maximum limits of promissory credit.


On the other hand, and within the bank’s programs to support the government's initiative on revitalizing the private sector, TBI aimed to support this sector and expand its services to cover the needs of commercial financing, for bank customers from the private sector, and financing projects through granting banking facilities for the import of goods and services to Iraq. And this has included major projects for the reconstruction and economic development in the infrastructure sectors, especially in the field of electric power such as Erbil project, to generate electric power in Kurdistan, which represents one of the most successful major projects the Bank has funded. The bank also financed the manufacturing sector, such as Karbala Cement Plant, in addition to the housing sector such as BASMAYA residential Complex as well as tourism sector in the form of financing hotels projects.


We emphasize our full sponsorship for vital training programs, which their results contribute in the improvement and development of the Iraqi economy and the banking sector in Iraq. Which comes from the bank’s commitment to the task of developing and modernizing Iraq’s economy, according to the contemporary financial and banking approaches and programs, which will contribute to the achievement of what we’re aiming for in this direction.


Training programs of financial and banking aspects in Iraq at this stage are considered as a real performer for the leader role of Trade Bank of Iraq that contributes to the development of the banking systems in Iraq.


Trade Bank of Iraq is committed to provide continuous training to its team for developing its performance, and improve its capabilities in light of evolving global banking. And is keen to set up training programs for the bank's staff in various fields of banking, in collaboration with the correspondent banks, especially the leading U.S. and the European banks of excellent reputation in addition to Arabic Banks.


On the other hand, Trade Bank of Iraq is also keen on providing training sessions in the banking industry to the government ministries and departments on two directions:


- The first direction: the bank organized regular banking training courses where lectures have been given by highly experienced Bankers.

- The second direction: the bank organized, in collaboration with both JPMorgan Chase Bank and Citibank initiative, training programs for Iraqi ministries after the success that the intensifying training programs achieved in this field, which dealt with the fundamental issues of the concepts of international trade and banking operations, according to an international standards, in addition to the involvement of the trainees in workshops and experimental analysis specially prepared for the purpose of informing them of the latest developments in banking affairs and international trade.

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