TBI Recognized Excellence Award in Direct Transfer Operations
TBI Recognized Excellence Award in Direct Transfer Operations
Baghdad, Iraq – May 13, 2025
JPMorgan Chase awarded Excellence in Direct Transfer Operations Award to Trade Bank of Iraq (TBI), in recognition of the Bank’s commitment to best practices in automated payment and transfer processing.
This achievement highlights TBI’s exceptional efficiency in processing financial transactions and the leading role it plays in straight-through processing (STP) of direct transfers in both USD and EUR. The STP award is based on the accuracy and automation of payment and transfer operations, which are processed without the need for manual intervention. This significantly reduces errors, operational costs and time. The award also reflects the speed and precision of international interbank transfers—saving time and enhancing reliability across borders.
TBI’s official spokesperson, Mr. Ahmed Saad Al-Khazraji, stated: “We were granted such award based on the volume of automated transactions handled by the Bank and the percentage of direct international transfers, measured according to JPMorgan Chase’s strict technical and procedural standards. Achieving a 99.68% STP rate for MT103 messages places TBI among a select number of banks worldwide to receive this distinction—demonstrating our ongoing efforts to enhance banking services, improve performance, and invest in the skills and capabilities our staff.”
He also added: “TBI holds a well-steady position among financial institutions both locally and internationally. Throughout 2024, The Bank has been recognized multiple awards for its key role in supporting major development and reconstruction projects, as well as facilitating a wide range of trade finance operations across import and export sectors. We remain committed to our active role in supporting the national economy of Iraq.”
TBI maintains a global network of over 384 correspondent banks across 60 countries and 93 cities, enabling seamless execution of international banking operations.
TBI’s management remains committed to enhancing the Bank’s operations through simplification of procedures to save customers time and effort, while also improving and expanding its service offerings to meet client needs and deliver exceptional banking quality.
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