TBI Basrah branch, one of Trade Bank of Iraq’s 26 branches providing best banking services for its customers, made the most profits in 2019.
Branch location: Istiklal St., near the General Traffic Directorate-Basrah
Trade Bank of Iraq showcases investment opportunities in Iraq at Global Trade Review MENA 2020 summit
Baghdad, February 26 2020: Trade Bank of Iraq (TBI) promoted investment opportunities in Iraq at the Global Trade Review (GTR) MENA 2020 summit held in Dubai and highlighted their commitment towards reconstruction of Iraq through its activities in the trade finance sector.
Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several potential investment opportunities in the region especially in the power sector.
It’s assessed that the real GDP growth of Iraq is expected to grow up by an average of 3.1% by 2023 with non-oil GDP expected to grow tremendously on the back of the reconstruction efforts.
TBI representatives present at the GTR MENA summit highlighted the potential opportunities to invest in the fledgling economy as the country continues to rebuild.
Commenting on TBI’s participation at the GTR MENA summit Faisal Al Haimus, Chairman & President of Trade Bank of Iraq said: “We have seen a lot of success in the recent years and are on the path to bigger things. Our presence at the GTR is a reflection of our ambition to earmark our presence outside Iraq.
“TBI’s total assets has recorded an increase of 27% and our net profits has seen an increase of 68% in the year 2019 compared to the previous year and we are committed to build on this growth.
“We are working on the growth and expansion of our operations and will be soon making a few announcements in the coming days.”
TBI is currently working on expanding its network domestically & Internationally to diversify the sources of revenue from retail banking in Iraq to international operations in order to achieve a 30% compounded annual growth rate envisaged in the bank’s business plan for 2020-23.
ENDS
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 26 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.
TBI Main branch, one of Trade Bank of Iraq’s 26 branches providing best banking services for its customers, made the most profits in 2019.
Branch location: Alkindi street-AlHarthyia-Baghdad.
TRADE BANK OF IRAQ CONTINUES STRONG GROWTH AND POSTS NET PROFIT OF USD 556 MILLION FOR 2019
Baghdad, Iraq, 17 February 2020: Trade Bank of Iraq (TBI), established in 2003, achieved a robust growth in revenues and in key financial areas during 2019, for another consecutive year with its consistent performance, preliminary report released by the bank for the financial year during 31/12/2019.
The bank posted a net profit of USD 556 million in 2019, an increase of 68% from 2018, on revenues of USD 673 million, which grew by 12% over the previous year.
Financial unaudited statements for the year ending 31st December 2019 reveal enhanced financial strength of TBI as a consequence of incessant improvements throughout the year in key sectors, including gross revenue and total assets.
The total assets of TBI grew to USD 29 billion in 2019 thereby recording an increase of 27% As a preliminary comparison to 2018.
Primary results the resilient earnings and improved asset base have earned TBI multiple awards at the recently held The Banker Awards 2019 in London.
The bank granted loans during 2019 to the tune of USD 434 million, the 2019 bank’s efforts made to lift the Iraqi economy and social development during the year through loans aggregating USD 1.9 billion for various Iraqi governmental and public sector projects in energy, industrial, agricultural and commercial sectors, assisting them in achieving further growth of the Iraqi economy
TBI is currently working on expanding its network domestically & Internationally to diversify the sources of revenue from retail banking in Iraq to international operations in order to achieve a 30% compounded annual growth rate envisaged in the bank’s business plan for 2020-23.
The bank opened its first branch outside Iraq last year in Riyadh, KSA and plans to upgrade its representative office in Abu Dhabi Global Market to enable it to conduct investment management and advisory activities.
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, said: “last year has been a good period for TBI and we have continued to support businesses and financial institutions to facilitate growth and expansion across many sectors.
We have achieved this success through prudent risk management and our aggressive technology-supported expansion strategy.
We will continue to thrust our technology-driven customer service initiatives in order to ensure more efficient and diverse services to our customers, reduce costs, and improve productivity.
“As part of our strategic plan, we are aiming for bigger retail and international business to achieve a growth rate of 30% of our total revenues, year on year basis, in the next three years through new technology-driven, need-based product offerings and international expansion.
As TBI moves forward with its 2020-23 strategic plan that will take the bank higher, it will continue to play a pivotal and influential role in Iraq’s ongoing recovery.”
-END-
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 26 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.
The Winners of “TESTAHEL” 11th Monthly Draw/Season Three receiving their prizes.
TESTAHEL 11th Monthly draw/Season Three, presented to you by Trade Bank of Iraq.
Congratulations for all winners and best of luck for all the participants in the upcoming draws.
Press Release
Iraq – Baghdad
4th February 2020
Trade Bank of Iraq is very pleased to announce the winners in TESTAHEL 11th monthly draw/Season 3; Congratulations to Mr. (Assad Abdul-Sadah Abbas) from TBI Nasiriyah branch for winning IQD 10,000,000 million, and to the other (8) winners for winning IQD (1,000,000) each. The 8 winners are:
- Ahmed Chalobe Bagai– TBI Al Kut Branch
- Muayyad Abdullah Kanaan– TBI Main Branch
- Israa Khalid Kadhim– TBI Zayoona Mall Branch
- Mohammed Ali Mahmood – TBI Tahreer Branch
- Waleed Salman Hussein– TBI Al Masbah Branch
- Zine El Abidine Ammar Hussein– TBI Zayoona Mall Branch
- Ibtisam Abdul Hassan Musa – TBI Iraqi Red Crescent Society Branch
- Ammna Khalifa Waseef – TBI Zayoona Mall Branch
The Eleventh monthly draw/Season Three was held on Tuesday 4th February 2020 at TBI Al Masbah Branch – Al-Rusafa area – Al-Karada. The event was attended by Mr. Waleed Eidi (CBI Counselor), Mr. Fouad Al-Wakeel (TBI Senior Vice President) and Mr. Hussein Ali Muhi (Head of TBI Retail Banking) and number of TESTAHEL participators who submitted an attendance form through the Bank page on Facebook.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017, which has the approval of the Central Bank of Iraq, and still proceeding for the third year in row. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win formidable prizes:
- Monthly Prizes
(8) Cash prizes of IQD (1,000,000) million and (1) of IQD (10,000,000) million.
- Quarterly Prizes
(8) Cash prizes of IQD (1,500,000) million and (1) of IQD (20,000,000) million
- Semi-annual Prizes
(15) Cash prize of IQD (2,500,000) million and (1) of IQD (30,000,000) million
- Annual Prizes
(4) prizes of Hyundai Elantra cars and (1) cash prize of IQD (150,000,000) million.
The Winners of “TESTAHEL” 10th Monthly Draw/Season Three receiving their prizes.
TBI Participation in Changing the Name of Neurosciences Hospital to Honor Dr. Saad Al-Wetri
As part of our support to the governmental initiatives and by complying to TBI Management instructions represented by Mr. Faisal Al-Haimus, TBI has participated in the ceremony of changing the name of “Neurosciences Hospital” to “Dr. Saad Al-Wetri Hospital for Neurosciences” that was held on Monday 13/01/2020, as an appreciation of Dr. Saad Al-Wetri’s efforts to Medicine in Iraq, also TBI has made various maintenance works in the hospital. The ceremony was attended by the Minister of Health Dr. “Jaafer Sadeq Allawi”, Dr. “Saad Al-Wetri”, the general manager of Directorate of Al-Rusafa Health Dr. “Abdulghani Saadoon”, Mr. “Qahtan Khairallah” TBI Vice President, Mr. “Ali Ramadan” the Head of the TBI’s Administration Department and Mr. “Ahmed Al-Khazraji” the Head of TBI’s Media & Public Relations Department.
TESTAHEL 10th Monthly draw/Season Three, presented to you by Trade Bank of Iraq.
Congratulations for all winners and best of luck for all the participants in the upcoming draws.
News
Iraq – Baghdad
12th January 2020
Trade Bank of Iraq is very pleased to congratulate Mr. Qasim Muhammed Hashim, from Najaf branch, for winning IQD 10,000,000 in TESTAHEL 10th monthly draw Season Three, and also congratulate the other 8 winners for wining IQD 1,000,000 million, for each.
And the 8 Winners are:
- Hussein Ali Khudair– Parliament Branch / IQD 1,000,000
- Samahir Ali Dawood– Babylon Mall Branch / IQD 1,000,000
- Najah Muhammed Hassan – Main Branch / IQD 1,000,000
- Saad Abdul Amir Laibi – Parliament Branch / IQD 1,000,000
- Ahmed Sahib Abdallah-Najaf Branch / IQD 1,000,000
- Faeiza Fuad Abbas– Ministry of Oil Branch / IQD 1,000,000
- Bahjat Abdul Karim Mohsen –Main Branch / IQD 1,000,000
- Jacquelin Qusn Zumaria- Parliament Branch / IQD 1,000,000
The Tenth monthly draw/Season Three was held on Sunday 12Tth January 2020 at TBI Masbah Branch in Rusafa/Al-Karada/Baghdad. The event was attended by Mr. Waleed Edi, a CBI councilor, Mr. Fouad Al-Wakeel, TBI Vice President, and Mr. Qahtan Khairallah, TBI Vice President along with number of TESTAHEL investors who participated through TBI Facebook page.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017 and has the approval of the Central Bank of Iraq. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win prizes through:
- Monthly Draws: (9) prizes, eight (8) of which are of (IQD 1,000,000 million) and the 9th one is of IQD 10,000,000 million.
- Quarterly Draws: (9) prizes, eight (8) of which are of (IQD1,500,000 million) and the 9th one is of (IQD 20,000,000 million).
- Semi-Annual prizes: (15) prizes, fourteen (14) of which are of (IQD 2,500,000 million) and the 15th one is of (IQD 30,000,000 million).
- Annual prizes: (4) Elentra car brand prizes and one other prize of IQD150 million.
The video below illustrates how to use TBI electronic cards in cash withdrawal through ATMs.
The Iraqi Army…The Nation Wall
The Trade Bank of Iraq President & Chairman along with its Board members and employees give their best wishes to the Iraqi Ministry of Defense as well as all the Iraqi army formations & Iraqi people in the occasion of the 99th Anniversary of Founding the Iraqi Army.
Happy Foundation day to our Nation Defenders
The Iraqi Army…The Nation Wall
The Trade Bank of Iraq President & Chairman along with its Board members and employees give their best wishes to the Iraqi Ministry of Defense as well as all the Iraqi army formations & Iraqi people in the occasion of the 99th Anniversary of Founding the Iraqi Army.
Happy Foundation day to our Nation Defenders
TBI delegation visits Dar Al-Zuhoor Al-Allweah orphanage as one of its many social initiatives by the end of 2019.
“We Continue with Our Social Initiatives”
Baghdad, January 1, 2020
Committing to our social initiatives that the TBI management represented by Mr. Faisal Al-Haimus (Chairman and President of the Bank) embarked upon holding various activities as part of our social responsibility towards the Iraqi society.
The TBI undertook to help the orphanage of (Dar Al-Zuhoor Al-Allweah) by providing the orphanage’s requirements from devices, necessaries, clothes and reconstructing parts of the orphanage to provide a service to the children of our country and to be their ongoing support.
A visit to the orphanage by a delegation of the TBI represented by Mr. Fouad Al-Wakeel (TBI Senior Vice President) and Mrs. Lina Talal (TBI Vice President) and Mr. Ahmed Al-Khazraji (Head of TBI’s Media & Public Relations Department) on Tuesday 31/12/2019 was organized, the delegation was accompanied by university students who bought gifts to the children and arranged a simple party with several activities to celebrate the end of the year 2019 with them to spread joy among them.
It’s worth mentioning that TBI management works on organizing social initiatives during the year to offer support for all types of the society in all fields to be initiators and supporters of the good deed.
Trade Bank of Iraq President and Chairman and its Board members along with all employees give their best wishes in the occasion of the new year 2020.
(Wishing you a very Happy New Year)
Trade Bank of Iraq held its annual celebration to honor the special employees 2019.
“With you we Reach for the Best”
With these words Mr. Faisal Al-Haimus, President & Chairman of TBI, opened the employees honoring ceremony 2019. This came as special initiative from the bank’s management in order to encourage all employees of the bank’s Head Office and Branches to do their best in achieving excellence in job performance.
“Our employee’s great contributions in increasing the bank’s revenues till 26/12/2019 reached IQD 826 billion therefor, such contributions must be rewarded in order to spread the competition spirit among our staff thus providing all the best for our institution.” Said Mr. Al-Haimus
“Our plan for the coming year represents a challenge in increasing the collective efforts. This includes working on opening TBI Representative Office in China and financing the national industrial projects loans to support the national products. This step shall reflect positively on the Iraqi society & market”. added Mr. Faisal
The Winners of “TESTAHEL” 9th Monthly Draw/Season Three receiving their prizes.
TRADE BANK OF IRAQ SCOOPS COUNTRY’S BEST BANK OF THE YEAR AWARD IN LONDON
TBI wins three accolades including Best Trade Finance Offering and Best Banking Service (Iraq) at the Banker’s awards
Baghdad 09 December 2019:
Trade Bank of Iraq (TBI) took home three awards including the country’s Bank of the Year accolade in recognition of its efforts in providing excellent services and developing its trade offering.
TBI was named Iraq’s best bank in the Middle East category of the annual 20th edition of The Banker’s Bank of the Year Awards 2019 that was held in London. TBI also won Best Trade Finance Offering and Best Banking Services (Iraq) awards respectively at The Banker’s Middle East awards during the same evening.
The awards, considered among the most prestigious in the banking industry, recognized the achievements of global and regional banks across the world.
TBI’s three prizes is a reward for the extensive work that has been undertaken this year. In the past year, the bank has boosted its retail banking offering and reduced its reliance on its core trade finance business.
This has enabled TBI to roll out a series of retail products including personal, car and student tuition loans, credit cards and a deposit certificate product for its private and business customers.
This year, TBI also expanded their presence in the Middle East by opening its first branch in the Kingdom of Saudi Arabia in April. The bank is also planning to upgrade its Abu Dhabi office, opened in 2017, to an asset management company in 2020 and open a representative office in China.
As part of its strategy to increase revenues, TBI has also provided the latest banking products, systems and services for its customers. The bank has expanded its chain of branches and ATMs across the country and by extending the opening hours and introducing night deposit facilities has allowed TBI to attract new customers.
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, said: “We are extremely thrilled to have won these three esteemed awards in what is another feather in our cap. To be named Iraq’s Bank of the Year 2019 and win ‘Best Trade Finance Offering’ and Best Banking Services (Iraq) awards is a fantastic achievement and this would not have been possible without everyone who has put in a lot of effort to deliver positive results at Trade Bank of Iraq.
“Trade Bank of Iraq’s strengths derive from its employees’ passion to serve customers and communities across Iraq, as well as connecting Iraq to the international world of commerce to provide the needs of our country and citizens.”
ENDS
TESTAHEL 9th Monthly draw/Season Three, presented to you by Trade Bank of Iraq.
Congratulations for all winners and best of luck for all the participants in the upcoming draws.
News
Iraq – Baghdad
4th December 2019
Trade Bank of Iraq is very pleased to congratulate Mr. Ahmed Saad Abed, from Amara branch, for winning IQD 20,000,000 in TESTAHEL 9th monthly draw (Second Quarterly draw)/Season Three, and also congratulate the other 8 winners for wining IQD 1,500,000 million, for each.
And the 8 Winners are:
- Ashurina Fareed Lazar– International Zone branch / IQD 1,500,000
- Saif Nadihm Hassan – Iraqi Red Crescent Society Branch / IQD 1,500,000
- Sabah Ahmed Azeez – Sulaymaniyah Branch / IQD 1,500,000
- Muhammed Salih Easa Al-Shohani Karim – Kut Branch / IQD 1,500,000
- Raed Khalid Yaqpub Al-Zamil– Amara Branch / IQD 1,500,000
- Yunis Hassan Omar –Erbil Branch/ IQD 1,500,000
- Muhammed Amer Adulallah – Babylon Mall Branch / IQD 1,500,000
- Gaith Mahmood Salih- Zayoona Mall Branch / IQD 1,500,000
The Second monthly draw/Season Three was held on Wednsday 4th December 2019 at “The Station” place in Rusafa/Al-Karada/Baghdad. The event was attended by Mr. Ihssan Shamran Al-Yasiri, Head of Accounting Department of CBI, Mr. Fouad Al-Wakeel, The Deputy President of Trade Bank of Iraq, Mr. Qahtan Khiarallah, TBI Vice President, and Mr. Hussein Ali Mohi, Head of Retail Banking of TBI along with number of TESTAHEL investors, who participated through TBI Facebook page.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017 and has the approval of the Central Bank of Iraq. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win prizes through:
- Monthly Draws: (9) prizes, eight (8) of which are of (IQD 1,000,000 million) and the 9th one is of (IQD 10,000,000 million).
- Quarterly Draws: (9) prizes, eight (8) of which are of (IQD1,500,000 million) and the 9th one is of (IQD 20,000,000 million).
- Semi-Annual prizes: (15) prizes, fourteen (14) of which are of (IQD 2,500,000 million) and the 15th one is of (IQD 30,000,000 million).
- Annual prizes: (4) Elentra car brand prizes and one other prize of IQD150 million.
The Winners of “TESTAHEL” 8th Monthly Draw/Season Three 2019 receiving their prizes.
TESTAHEL 8th Monthly draw/Season Three, presented to you by Trade Bank of Iraq.
Congratulations for all winners and best of luck for all the participants in the upcoming draws.
Press Release
Iraq – Baghdad
11th November 2019
Trade Bank of Iraq is very pleased to announce the winners in Eighth monthly draw/Season 3 of TESTAHEL; Congratulations to Mrs. (Nasima Zamel Ali) from TBI Masbah branch for winning IQD 10,000,000 million, and to the other (8) winners for winning IQD (1,000,000) each, as they are:
- Abdul Kadhim Mutlak Zghayer – TBI Zayoona Mall Branch
- Alia Hassan Mohammed – TBI Babylon Mall Branch
- Mubarak Lobnan Nasser – TBI Nasiriyah Branch
- Wathiq Hassan Nasser – TBI Al Amarah Branch
- Alaa Hassan Nasser – TBI International Zone Branch
- Raed Hayawi Hamdan – TBI Ministry of Oil Branch
- Waleed Aziz Mahdi – TBI Hilla Branch
- Haider Mohammed Sajat – TBI Basrah Branch
The 8th monthly draw/Season Three was held on Monday 11th November 2019 at the TBI Haibet Khatoun Branch – Al-Rusafa area – Al-Adhamiya. in Baghdad. The event was attended by Mr. Waleed Eidi (CBI Counselor), Mr. Faisal Al-Haimus (Chairman & President of TBI), Mr. Fouad Al-Wakeel (TBI Senior Vice President), Mr. Hussein Ali Muhi (Head of Retail Banking Department) and number of TESTAHEL participators who submitted an attendance form through the Bank page on Facebook.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017, which has the approval of the Central Bank of Iraq, and still proceeding for the third year in row. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win formidable prizes:
- Monthly Prizes
(8) Cash prizes of IQD (1,000,000) million and (1) of IQD (10,000,000) million.
- Quarterly Prizes
(8) Cash prizes of IQD (1,500,000) million and (1) of IQD (20,000,000) million
- Semi-annual Prizes
(15) Cash prize of IQD (2,500,000) million and (1) of IQD (30,000,000) million
- Annual Prizes
(4) prizes of Hyundai Elantra cars and (1) cash prize of IQD (150,000,000) million.
The Winners of “TESTAHEL” 7th Monthly Draw/Season Three 2019 receiving their prizes.
TESTAHEL Seventh Monthly draw/Season Three, presented to you by Trade Bank of Iraq.
Congratulations for all winners and best of luck for all the participants in the upcoming draws.
TBI NAMED ‘SAFEST BANK IN IRAQ 2019’ BY GLOBAL FINANCE
Baghdad, October 13, 2019: Trade Bank of Iraq (TBI) has been named “Safest Bank in Iraq” by Global Finance magazine in an exclusive survey as part of the publication’s annual ranking of the World’s Safest Banks.
The award, in its 28th edition, evaluates the long-term foreign currency ratings from global ratings agencies Moody’s, Standard & Poor’s and Fitch and the total assets of the 1000 largest banks worldwide
Commenting on the award Faisal Al Haimus, Chairman & President of Trade Bank of Iraq said: “This award is a testament to the hard work, dedication and commitment towards our customers.
“Our excellent asset quality, and pragmatic approach to risk management leave us well placed to generate sustainable profitability and continue growing stronger.
A pillar for the national economy, TBI has continuously maximized the Government of Iraq’s equity share through expanding its business locally and internationally. Encouraging and securing foreign investment is one of TBI’s key goals as it promotes the country and its own services as a reliable option for investors.
TBI has been supporting the flow of trade between Iraq and the rest of the world. TBI leverages the relationships it has forged in the recent years to provide tailor made Trade Finance solutions to its clients.
Faisal Al Haimus added: “This accolade also speaks to the trust that our customers and partners have in us, and we will continue improving our banking service, to make it faster, simpler and even safer.”
The bank has won a number of awards this year at Achievements Forum Milan, International Finance Awards, EMEA Finance Awards, JP Morgan Elite Quality Recognition Award including ‘Best Trade Finance Bank’, ‘Best Retail Bank’, ‘Best Priority Bank’, ‘Best local Bank’ and ‘Best Investment Bank in Iraq’ for the Iraqi market.
As TBI moves forward with its strategic plan that will take the bank up to 2022, it continues to play a pivotal and influential role in Iraq’s ongoing recovery and regeneration.
-End-
Press Release
Iraq – Baghdad
10th October 2019
Trade Bank of Iraq is very pleased to announce the winners in Seventh monthly draw/Season 3 of TESTAHEL; Congratulations to Mrs. (Widad Abdulwahab Hashim) from TBI Main branch for winning IQD 10,000,000 million, and to the other (8) winners for winning IQD (1,000,000) each, as they are:
1. Attiyah Mehibes Najim Al-Rekabi – TBI Basrah Branch
2. Raad Hufdhi Abed – TBI Main Branch
3. Othman Mustafa Hameed – TBI Sulimaniyah Branch
4. Shaimaa Abdulrazzaq Abdulwahab – TBI Main Branch
5. Rabiha Hamad Abdullah – TBI Erbil Branch
6. Haiman Ali Hameed – TBI Sulimaniyah Branch
7. Falah Abdulmahdi Radhi – TBI Hilla Branch
8. Jasim Ali Jasim Al-Enzy – TBI Main Branch
The Seventh monthly draw/Season Three was held on Thursday 10th October 2019 at the Headquarter Building – Al-Rusafa area – Al-Rasheed St. in Baghdad. The event was attended by Mr. Waleed Eidi (CBI Counselor), Mr. Faisal Al-Haimus (Chairman & President of TBI), Mr. Fouad Al-Wakeel (TBI Senior Vice President), Mr. Hussein Ali Muhi (Head of Retail Banking Department) and number of TESTAHEL participators who submitted an attendance form through the Bank page on Facebook.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017, which has the approval of the Central Bank of Iraq, and still proceeding for the third year in row. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win formidable prizes:
• Monthly Prizes
(8) Cash prizes of IQD (1,000,000) million and (1) of IQD (10,000,000) million.
• Quarterly Prizes
(8) Cash prizes of IQD (1,500,000) million and (1) of IQD (20,000,000) million
• Semi-annual Prizes
(15) Cash prize of IQD (2,500,000) million and (1) of IQD (30,000,000) million
• Annual Prizes
(4) prizes of Hyundai Elantra cars and (1) cash prize of IQD (150,000,000) million.
Trade Bank of Iraq participated in the discussion of “Challenges facing the Financial Sector in line with USA Sanctions”, which was attended by Mr. Faisal Al-Haimus, Chairman & President of TBI, Mr. Hameed Al-Ghazy, Secretary General of Council of Ministries, Mr. Luqman Al-Faily (Head of US office at the Iraqi Ministry of Foreign Affairs), Mr. Ramon Blecua (Former Ambassador of the European Union in Iraq), and Mr. Shwan Ibrahim Taha (Head of Al-Rabea’ Securities Center).
Trade Bank of Iraq participated as “platinum sponsor” of the Al-Rafidain Meeting for Security and Economics, which was held at Al-Rafidain’s Discussion Center. The discussion titled “Challenges facing the Financial Sector in line with USA Sanctions” was attended by Mr. Faisal Al-Haimus, Chairman & President of TBI, Mr. Hameed Al-Ghazy, Secretary General of Council of Ministries, Mr. Luqman Al-Faily (Head of US office at the Iraqi Ministry of Foreign Affairs), Mr. Ramon Blecua (Former Ambassador of the European Union in Iraq), Mr. Shwan Ibrahim Taha (Head of Al-Rabea’ Securities Center), as well as Mr. Fouad Al-Wakeel, Mr. Firas Al-Hammadani, Mr. Qahtan Khairallah, Mrs. Zainab Rafeeq, Mrs. Yusur Hazem, and Mrs. Lina Talal, all of them as Vice Presidents of TBI.
Trade Bank of Iraq receives STP recognition from JPMorgan Chase
Baghdad, Iraq, September 15, 2019: Trade Bank of Iraq has won the JPMorgan 2018 Elite Quality Recognition Award being recognised as one of the best ‘Straight Through Processing’ (STP) banks by JPMorgan Chase.
The JPMorgan 2018 Elite Quality Recognition Award was handed over to Faisal Al Haimus, Chairman & President of Trade Bank of Iraq (TBI) by Ali Moosa, Head of Transactional Banking – CEEMEA Region for JPMorgan Chase at a gala dinner held recently in Beirut, Lebanon.
STP is the automated process of payments without manual intervention which increases processing speed, minimises routing errors, lowers operation and transaction costs while resulting in efficient, rapid payment execution and credit to the bank and the customers it serves.
The award is based on the number of electronic transactions requested and the ratio of international electronic payment execution meeting JPMorgan Chase’s stringent processing accuracy criteria and is presented annually to clients of JPMorgan who achieve best-in-class level of operating excellence.
During the assessment year of 2018, TBI was one of the few global units to win the top prize for the quality of operations in straight through processing for the transfer of funds of 99% in the classification MT103.
This award is the recognition of TBI’s inter-bank transactions executed quickly and accurately, saving time and cost and minimising risks.
The bank has invested heavily in essential infrastructure and organisation across its nationwide network to provide the latest banking products, systems and services to customers. TBI has continued to expand its chain of branches and ATMs as well as improving its banking capabilities by extending opening hours and introducing night deposit facilities.
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, who received the award, said: “We are very proud to receive this outstanding award as it demonstrates our ongoing commitment to keeping the customer at the heart of everything we do.
“This award is a result of our outstanding performance in STP payments and efficiency in processing international transfers that cater to the growing needs of our clients and is clearly an indication of the exceptional delivery of payments and settlements by our bank.”
Ali Moosa, Head of Transactional Banking – CEEMEA Region for JPMorgan Chase said: “Trade Bank of Iraq has won the JPMorgan 2018 Elite Quality Recognition Award as an acknowledgement of its consistent high quality performance and standards of funds transfer operation management.”
A pillar for the national economy, TBI has continuously maximized the Government of Iraq’s equity share through expanding its business locally and internationally. Encouraging and securing foreign investment is one of TBI’s key goals as it promotes the country and its own services as a reliable option for investors.
Faisal Al Haimus added: “The award reiterates the sound success achieved by implementing our strategy, which aims at setting new standards in Iraq’s banking sector through innovation and outstanding performance. I commend the dedication of our employees who have played an important role in achieving this success.”
The bank has won a number of awards this year at Achievements Forum Milan, International Finance Awards, EMEA Finance Awards, Global Finance Magazine Award including ‘Best Trade Finance Bank’, ‘Best Retail Bank’, ‘Best Priority Bank’, ‘Best local Bank and ‘Best Investment Bank in Iraq’ for the Iraqi market.
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.
-ENDS-
As a part of our social responsibility and continuous initiatives to serve the society, TBI Management, represented by Mr. Faisal Al-Haimus (Chairman and President of the Bank), arranged a blood donation campaign for its Headquarters’ staff in coordination with the National Center for Blood Transfusion.
Mr. Al-Haimus emphasized on the national duty of the Bank to contribute in such initiatives to save that lives of those patients who need such donation.
“We continuously work on our social initiatives as a part of our humanitarian duty and the responsibilities we have towards the Iraqi society in particular. In the future, there shall be other such initiatives to supports families and orphanage requiring this aid.” He continued.
We congratulate all winners of TESTAHEL Sixth Monthly draw/Season Three (the Semi-Annual draw), which was held on 04/09/2019, for receiving their prizes.
Wishing the Best of luck for all the participants in the upcoming draws.
TESTAHEL Sixth Monthly draw/Season Three (the Semi-Annual draw) presented to you by Trade Bank of Iraq.
Congratulations for all winners and best of luck for all the participants in the upcoming draws.
Press Release
Iraq – Baghdad
4th September 2019
Trade Bank of Iraq is very pleased to announce the winners in Sixth monthly draw/Season 3 (Semi-annual draw) of TESTAHEL; Congratulations to Mr. (Zaid Ali Aidan Al-Ramadhan) from TBI Hilla branch for winning IQD 30,000,000 million, and to the other (15) winners for winning IQD (2.500,000) each, as they are:
- Adel Ali Jalal – TBI Sulaimaniyah Branch
- Ali Kadhum Khudhair – TBI Babylon Mall Branch
- Maisara Abbas Hamzah – TBI Babylon Mall Branch
- Karrar Ali Hasoon – TBI Omarah Branch
- Ameer Sameea Jawad – TBI Hilla Branch
- Saif Abdulameer Anbar – TBI International Zone Branch
- Mustafa Hamzah Eissa – TBI Zayouna Mall Branch
- Ashwaq Aladeen Abdulrazzaq – TBI Zayouna Mall Branch
- Muna Hasan Hetajah – TBI Al-Masbah Branch
- Halima Jawad Kadhum – TBI Hilla Branch
- Sameer Ensaif Hennish – TBI Zayouna Mall Branch
- Alaa Zamel Dahesh – TBI Babylon Mall Branch
- Khalid Musa Jwaeid – TBI Ministry of Oil Branch
- Areej Abdulkadhum Shwaia – TBI Al-Masbah Branch
- Nihad Salim Shareef Al-Asi – TBI Al-Nasiriya Branch
The Sixth monthly draw/Season Three (Semi-annual draw) was held on Wednesday 4th September 2019 at the Headquarter Building – Al-Rusafa area – Al-Rasheed St. in Baghdad. The event was attended by Mr. Abdulhussein Al-Muntheri (Banking Counselor), Mr. Fouad Al-Wakeel (TBI Senior Vice President), Mr. Firas Al-Hammadani and Mrs. Lina Talal (both TBI Vice Presidents), Mr. Hussein Ali Muhi (Head of Retail Banking Department) and number of TESTAHEL participators who submitted an attendance form through the Bank page on Facebook.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017, which has the approval of the Central Bank of Iraq, and still proceeding for the third year in row. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win formidable prizes:
- Monthly Prizes
(8) Cash prizes of IQD (1,000,000) million and (1) of IQD (10,000,000) million.
- Quarterly Prizes
(8) Cash prizes of IQD (1,500,000) million and (1) of IQD (20,000,000) million.
- Semi-annual Prizes
(15) Cash prize of IQD (2,500,000) million and (1) of IQD (30,000,000) million.
- Annual Prizes
(4) prizes of Hyundai Elantra cars and (1) cash prize of IQD (150,000,000) million.
How to use (OTP)
A video by Trade Bank of Iraq, showing how to activate and use OTP cards when the cards are issued and receive a PIN verification code via SMS for one-time (Attention! Don’t delete the SMS that includes the PIN code when you receive it only after the process is completed).
Best wishes to you from Trade Bank of Iraq on the occasion of EID Al-ADHA
May all your days be blessed with joy and happiness
EID MUBARAK 2019
The winner of “TESTAHEL” for the Fifth Monthly draw/Season three has received his prize IQD 10,000,000.
CONGRATULATIONS to the winners & good luck to all participants in the next draws.
Watch “TESTAHEL” 5th draw/Season Three provided to you by Trade Bank of Iraq (TBI).
News
Iraq – Baghdad
4th August 2019
Trade Bank of Iraq congratulate all 9 winners of TESTAHEL Fifth Monthly draw/Season three and they are: Mr. Omran Haider Ali Yawer from TBI International Zone Branch, who won IQD 10,000,000, and the 8 other winners, each one received IQD 1,000,000: –
- Ali Mahmood Ali – TBI Najaf Branch.
- Ahmed Hassan Hatagha – TBI Al Masbah Branch.
- Muntaha Ajrash Shabib – TBI Nasiriyah Branch.
- Heba Abdul Kareem Ali – TBI Zayoona Mall Branch.
- Auruba Mumtaz Hussein – TBI Najaf branch.
- Abbas Saddam Fadel – TBI Zayoona Mall Branch.
- Heifer Diar Qader – TBI Erbil Branch.
- Mohammed Jabbar Hussain – TBI Zayoona Mall Branch.
The Fifth draw in its Third year was held on Thursday August 4th 2019 at the Bank New Head Quarter building in Baghdad-Al-Rasheed street. It was attended by Mrs. Dhuha Abdul Kareem, Head of Payments department at CBI, Mr. Fouad Al-Wakeel, TBI First Vice President, Mr. Firas Al-Hamadani, TBI Vice President, Mrs. Lina Talal, TBI Vice-President, and Mrs. Hind Al-Bazz, Head of TBI Retail Banking as well as some of TESTAHEL participants.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017 and has the approval of the Central Bank of Iraq. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win prizes through:
- Monthly Draws: (9) prizes, eight (8) of which are of (IQD 1,000,000 million) and the 9th one is of IQD 10,000,000 million.
- Quarterly Draws: (9) prizes, eight (8) of which are of (IQD1,500,000 million) and the 9th one is of (IQD 20,000,000 million).
- Semi-Annual prizes: (15) prizes, fourteen (14) of which are of (IQD 2,500,000 million) and the 15th one is of (IQD 30,000,000 million).
- Annual prizes: (4) Elentra car brand prizes and one other prize of IQD150 million.
TBI holds an interactive session on extending loans to citizens wishing to purchase Solar Applications at the initiative of the Prime Minister Adviser Mr. Abd Al Hussein Al Hnnain.
TBI held an interactive session on extending loans to citizens wishing to purchase Solar Applications!
Following the initiative of the Prime Minister Adviser Mr. Abd Al Hussein Al Hnnain, Trade Bank of Iraq held an interactive session on extending loans to citizens wishing to purchase Solar Applications. The session was led by the president of TBI Mr. Faisal al Haimus with the participation of the Deputy Minister for Electricity Mr. Ayser Habib and in the presence of representatives of Government and Private Banks and a number of Private-Sector Companies involved.
The session focused on developing a plan derived from the proposed recommendations approved by the Iraqi Prime Minister Dr. Adel Abdul Mahdi in “Energy Sustainability” colloquium to work on the Loan Mechanism.
Mr. Abd Al Hussein Al Hnnain praised the active role of TBI as it will be the main guarantor of the borrowers and banks financing this project to improve the electric reality. This session was concluded by positive recommendations and general frameworks for practical steps to start the project and there will be further sessions.
Governor of the Central Bank of Iraq Mr. Ali Alalak visit to our new Head Office!
The Governor of the Central Bank of Iraq Mr. Ali Alalak visited our new Head Office building at Al Rasheed St. and He was warmly greeted by The president of Trade Bank of Iraq Mr. Faisal Al Haimus.
During his visit, Mr. Alalak praised the role of TBI in supporting the national economy and the financial facilities services to foreign companies contributing in the reconstruction and development of the country as well as the services of investment loans.
“Being launched for the first time in Iraq, TBI’s products (TESTAHEL, JUMMAR, TRAVEL Loan & Personal Loans) have contributed effectively in supporting Iraqi banking sector in general;” added Mr. Alalak. He concluded his visit by commending the work of staff members of the bank for their significant efforts and congratulated the opening of this new modern building.
News
Iraq-Baghdad
On 24/07/2019, by support of the Council of Ministers and the Prime Minister, Mr. Adel Abdul Mahdi and in accordance with his recent decisions concerning supporting national products, TBI granted an IQD (1) one Trillion loan to the State Company for Grain Trade for the payment of the farmers’ wheat and Al Shilb (rice hulls) dues.
This initiative shall urge and encourage the agricultural sector to be a main provider in the Iraqi market.
This step comes under the directives of Trade Bank of Iraq to support various state institutions so the bank would prove to one of the most important financial and economic pillars in Iraq thing that would support governmental and privet institutions activities.
This is one of series achievements of Trade Bank of Iraq this year, which included the opening of TBI first external branch at Kingdom of Saudi Arabia and the new Headquarter building at Al-Rasheed St.-Baghdad add to transferring 50% of the Bank net profits 2018 (IQD (106) one hundred and six billion) to the State Treasury.
And, last but not least, we shall keep serving our country under our motto (“We Change for the Better”)
– End –
The Winners of “TESTAHEL” 4th Monthly Draw/Season Three 2019 receiving their prizes.
“Your Significant Efforts Shall Raise our Institution for the Best”
With these words, the President & Chairman of Trade Bank of Iraq, Mr. Faisal Al-Haimus, congratulated the bank Credit department staff for their continuous dedicated and creative efforts in granting loans with very big amounts. The celebration was on the occasion of rewarding all Credit department staff for granting IQD4 billion loans during only one day on Monday (08/07/2019). This number is the highest ceiling reached by the Bank regarding granting loans on daily basis.
Mr. Faisal Al-Haimus expressed that he was very happy with the Credit department achievement which shall provide great benefit over borrowers.
“We are always working to improve our Bank works which will positively contributes in developing Iraq economy and as new step, we launched new product namely (Travel Loan) to facilitate the travel process for all employees.
See the world with “Travel Loan”
Committed to applying CBI initiatives regarding establishing the Financial Inclusion conception and to enhance the role of the bank in supporting the employee financially,
TBI is pleased to announce the launching of the new product (Travel Loan), which is loan granted to state employees who receive their salaries from the TBI through the electronic card for travel purposes.
Watch “TESTAHEL” 4th draw/Season Three provided to you by Trade Bank of Iraq (TBI).
Press Release
Iraq – Baghdad
4th July 2019
Trade Bank of Iraq congratulate all 9 winners of TESTAHEL Fourth Monthly draw/Season three and they are: Mr. Ahmed Ali Jazeel from TBI Parliament Branch, who won IQD 10,000,000 and 8 others, each one received IQD 1,000,000:
- Mustafa Delshad Shah Murad – TBI International Zone Branch.
- Rashad Hamid Aajil – TBI Main Branch.
- Duaa Hamid Radi – TBI Parliament Branch.
- Soran Ismail Abdullah – Majidi Mall Erbil Branch.
- Muntader Rafid Jasim – TBI Hillah Branch.
- Abbas Allawi Hussein – TBI Zayoona Mall Branch.
- Musa Omran Edan – TBI Hillah Branch.
- Bahaa Abdul Hussein Saleh – TBI Basra Branch.
The Fourth draw in its Third year was held on Thursday July 4th 2019 at the Bank New Head Quarter building in Baghdad-Al-Rasheed street. It was attended by Mr. Waleed Edi, CBI councilor, Mr. Fouad Al-Wakeel, TBI First Vice President, Mrs.Lina Talal, TBI Vice-President, and Mrs.Hind Al-Bazz, Head of TBI Retail Banking as well as some of TESTAHEL participants.
It is worth mentioning that “TESTAHEL” is one of the new products issued by Trade Bank of Iraq in 2017 and has the approval of the Central Bank of Iraq. Any citizen can participate in it by depositing IQD 500,000 thousand in one of TBI branches to get a chance to win prizes through:
- Monthly Draws: (9) prizes, eight (8) of which are of (IQD 1,000,000 million) and the 9th one is of (IQD 10,000,000 million).
- Quarterly Draws: (9) prizes, eight (8) of which are of (IQD1,500,000 million) and the 9th one is of (IQD 20,000,000 million).
- Semi-Annual prizes: (15) prizes, fourteen (14) of which are of (IQD 2,500,000 million) and the 15th one is of (IQD 30,000,000 million).
- Annual prizes: (4) Elentra car brand prizes and one other prize of IQD150 million.
Arab Police Judo Championship
For the first time in thirty years and by the sponsorship of TBI, Baghdad hosted the Arab Judo Police Championship for the period 17-22nd June 2019.
Many Arab countries have participated in this championship, such as (KSA, UAE, Egypt, Tunisia, Algeria, Libya, Jordan, Palestine, Sudan and Kuwait). The special of a kind competition, as described by Arab delegations and the Arab championships specialists, was held at Alshaab International Hall-Alshaab International Sports Compound.
The Republic of Iraq also hosted the meetings of the Executive Office and the committees within the championship federation.
TBI is continuing to support all the sport and social sectors in our country.
Finally, the championship concluded with the Algeria police team ranking the first place, while the Iraqi police team ranked second. As for the third place it was mutually ranked by both Egypt and Tunisia teams.
TRADE BANK OF IRAQ WINS PRESTIGIOUS AWARD AT THE ACHIEVEMENTS FORUM MILAN 2019
Baghdad, Iraq, July 2, 2019: Trade Bank of Iraq (TBI) has been recognised for their outstanding performance and service taking home the prestigious award at the Achievements Forum 2019.
Hosted by the Achievements Forum, the event saw some of the leading business figures and institutions from across the world assemble at the Westin Palace Hotel in Milan.
The Achievements Awards serve to recognise reward and honour excellence across business and economy, science and education, healthcare, culture and art. The awards support, promote and develop the best regional companies, institutions and personalities in different activity spheres.
The forum rewarded TBI’s continued commitment towards providing modern banking services in Iraq, presenting the ‘Achievements Award’ during the special ceremony held yesterday.
The bank has invested heavily in essential infrastructure and organisation across its nationwide network to provide the latest banking products, systems and services to customers. TBI has continued to expand its chain of branches and ATMs as well as improving its banking capabilities by extending opening hours and introducing night deposit facilities.
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, who received the award, said: “We are delighted to receive this esteemed award as it acknowledges the success we have achieved in the last few years.
“Setting new standards in Iraq’s banking sector through innovation and outstanding performance has always been one of the core strategic focus of our business and will continue to be the same for us going forward.”
A pillar for the national economy, TBI has continuously maximized the Government of Iraq’s equity share through expanding its business locally and internationally. Encouraging and securing foreign investment is one of TBI’s key goals as it promotes the country and its own services as a reliable option for investors.
Faisal added: “The awards are gratifying as it also helps to further cement our status as the go-to bank for companies and institutions looking to make smart investments in the future of Iraq.
“We will continue to innovate, improve and enhance our service quality to meet the growing demands, needs and expectations of our customers.”
This milestone comes at the back of the opening of TBI’s new corporate headquarters in Baghdad last month and the opening of its first international branch in Riyadh, Saudi Arabia in April this year. The bank also 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.
ENDS
On the occasion of the opening ceremony of TBI Headquarter New Building, Mr. Faisal Al-Haimus, President & Chairman of Trade Bank of Iraq, rewarded a number of distinguished staff from Engineering Section/Administrative dept., who had a special role in accomplishing and rehabilitating the Headquarter new building.
Mr. Faisal praised these remarkable efforts and appreciated their accomplished and future hard working in serving our great TBI so it can be a successful example for all other governmental institutions as well as in proving our continuous Motto “We Change for the Better”.
TBI celebrating the opening of its Headquarter new building at Baghdad – Al Rasheed St.
.TBI celebrating the opening of its Headquarter new building at Baghdad – Al Rasheed St. on Wednesday
Trade Bank of Iraq celebrates grand opening of new headquarters in Baghdad
- Grand opening with guests representing government and the business community including Iraqi Prime minster representative and Adviser Dr Ihssan Al Hakim
- The building features modern working environment and will house 670 employees
- The new HQ is located in the heart of Baghdad on Al Rasheed Street, which holds a strong cultural and historic value
Baghdad, June 26, 2019 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.
Trade Bank of Iraq and ESDS sign MoU for developing fintech and a cloud platform in Iraq
Baghdad, June 20, 2019: Trade Bank of Iraq (“TBI”) has entered into a Memorandum of Understanding (MoU) with ESDS SOFTWARE SOLUTION PVT. LTD, India (“ESDS”) to develop financial technology and a cloud platform in Iraq.
Alpen Capital (ME) Limited acted as the sole financial advisor for the transaction between the two firms, which aims to establish a long-term strategic relationship in the field of establishing and managing data centre, cloud solutions and virtualization and disaster recovery hosting solutions, financial technology solutions and other Information Technology services in Iraq.
As per the MoU, TBI will make a strategic investment in ESDS through subscribing to fresh equity shares in the Company. ESDS in turn will subscribe to fresh equity shares in Information Windows for Electronic Payment and Information Technology (“IWEPIT”), a company established by TBI in Iraq for setting up data centre and financial technology service offerings catering to the requirements of TBI and other corporates and financial institutions in Iraq and other neighbouring markets.
ESDS has developed revolutionary technology of vertical auto scaling in cloud and virtualization. This technology is patented by United States Patent and Trademark Office (“USPTO”) and Intellectual Property office of United Kingdom (“The IPO”).
In addition to the revolutionary cloud technology, ESDS has proven expertise in setting up data centres and providing customized data centre and other information technology solutions for Banks and Financial Institutions, managed data centre services, managed cloud solutions and data virtualization, disaster recovery hosting and web designing and web hosting services.
ESDS will provide all its services and expertise including the patented data centre software – eNlight 360 to TBI and become an exclusive partner to TBI for the market of Iraq and the neighbouring markets to be mutually agreed between parties. It will also render technical know-how and managed services to IWEPIT.
Faisal Al Haimus, Chairman and President, TBI, said: “This is indeed a landmark association and we believe our combined synergies will allow us to make significant strides in the area of fintech and technology advancement.
“This is the latest in a number of strategic agreements we have made with leading firms in the region to help rebuild, develop and modernise Iraq.
Piyush Somani, Founder MD & CEO, ESDS said: “We at ESDS are highly excited about this partnership with TBI. We consider ourselves lucky to get such an opportunity to transform a country like Iraq, where Cloud Technology and FinTech solutions are desperately needed to bring the country to the level where it should have reached by now.
“ESDS is the only Cloud service provider in the world having Patented Vertical as well as Horizontal auto-scaling technology deployed for Banking Community Cloud having more than 300 Banks in India. We are very much confident of filling up the vacuum which exists in Iraq Technology market.”
About ESDS:
Founded in 2005 by first generation entrepreneur Piyush Somani, ESDS is one of India’s leading Data Center Services and Auto-Scalable Cloud Solution providers. ESDS has an expertise in Managed Data Centre Services, Managed Cloud Solutions, Virtualization and Disaster Recovery Hosting. ESDS has developed a unique concept of community cloud, which offers customized data centre services and cloud solutions. It is successfully running four community cloud in India – Banking and Financial Institutions, Government, ERP/SAP and Enterprises.
About Alpen Capital
Alpen Capital (ME) Limited is incorporated as a limited liability company in the Dubai International Financial Centre, Dubai, United Arab Emirates and is licensed by the Dubai Financial Services Authority. Alpen Capital offers a full range of investment banking advisory services in the areas of M & A, Debt, Equity and Capital markets to institutional and corporate clients across the GCC, South Asia, South East Asia, Levant and Africa. Apart from Dubai, it has offices in Abu Dhabi, Doha, Muscat, Mumbai and New Delhi.
The Winners of “TESTAHEL” 3rd Monthly Draw/Season Three (First quarterly draw) 2019 receiving their prizes.
In continuation to Trade Bank of Iraq management’s plan in expanding its branches, the Bank acquired a building at Adhamiya area – Omar Bin Abdul Aziz stree, which shall be the new branch for TBI. The work is intensively under way by the Bank engineering division/Administrative department so that the branch to be ready for providing its services for customers. Furthermore, TBI will be opening its Head Office new building, which is located at Al Rasheed street, by the end of June, 2019.