TRADE BANK OF IRAQ OPENS REPRESENTATIVE OFFICE IN ABU DHABI

TRADE BANK OF IRAQ OPENS REPRESENTATIVE OFFICE IN ABU DHABI

  • TBI’s office at Abu Dhabi Global Markets on Al Maryah Island is bank’s first outside of Iraq
  • 100% Iraq Government owned bank will be the first Iraqi bank in ADGM, UAE

Abu Dhabi, November 26, 2017: Trade Bank of Iraq (TBI) has opened a representative office in Abu Dhabi, making it the only Iraqi bank to have a presence in ADGM UAE.

The wholly government owned bank’s new office in the UAE capital, its first outside of Iraq, will be located in the Abu Dhabi Global Market’s building on Al Maryah Island.

The prime location, at the heart of Abu Dhabi’s financial district, will further cement TBI’s international credentials as an effective institution with strong creditability in the industry and access to a global banking network.

TBI’s presence in the UAE will also allow the bank to further promote investment opportunities in Iraq and to establish relationships with key institutions within the UAE’s banking and finance sectors.

Today (26th), Dr Ali Al-Alaq, the Governor of the Central Bank of Iraq, His Excellency Ahmed Al Sayegh and Mr. Faisal Al Haimus, Chairman of TBI were joined by senior officials from the bank for a short opening ceremony at its new premises. Honored guests from Iraq and the UAE were also present.

Dr. Ali Al-Alaq said: “This is a hugely significant day for TBI, the financial sector of Iraq and the country as a whole as this will be the first Iraqi bank in ADGM, UAE, which is such an important global financial centre.

“I would like to congratulate everyone at TBI and I look forward to the financial sector of both nations strengthening our collaboration in the future.”

Mr Al Haimus said: “It is truly humbling when I think about how far TBI has come since our inception in 2003 and today is not only a demonstration of that but it is also a landmark day for the bank which everyone of our employees should be extremely proud of.

“The future looks very bright for the financial industry in Iraq, the UAE and the rest of the region and I am personally excited about seeing the huge mutual benefits this new representative office will offer TBI and our partners.

“I would like to thank everyone at TBI who has made today possible and our various strategic partners in the UAE..”

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