Ten global financial institutions led by JPMorgan Chase agreed to lend their support to TBI in its commencement of operations. Their primary role was issuing Letters of Credit, externally on behalf of TBI, to global exporters. In addition, the Consortium has provided TBI with the latest technologies and trade finance know-how. These banks have committed to stand by TBI until it is able to issue Letters of Credit to world exporters on its own.
These banks are:
The Participating Banks In addition to the five Operating Consortium banks, a group of world-class banking institutions have joined the Trade Bank of Iraq Consortium as Participating Banks. These banks were selected for their geographic breadth, the strength of their trade finance franchise, and their commitment to doing business in the Middle East.
Participating Banks further broaden the client base and global reach of TBI. The larger group of banks is also positioned to engage a wider circle of export credit agencies to provide coverage for exports to Iraq. These banks will also be engaged to line up financing during future phases of the Trade Bank. These banks will also form the nucleus of TBI's correspondent banking relationships.
| AkBank TAS ............................................................................................................. | (Turkey) |
| Bank of China Limited ............................................................................................. | (China) |
| DBS Bank Ltd. ......................................................................................................... | (Singapore) |
| Millennium BCP (Banco Comercial Portugues SA) .................................................... | (Portugal) |
| Royal Bank of Canada ............................................................................................. | (Canada) |
| Standard Bank Ltd. ................................................................................................. | (U K) |
| State Bank of India ................................................................................................. | (India) |
| VTB Bank (open joint-stock (JSC company) VTB Bank) ............................................ | (Russia) |
| Woori Bank ............................................................................................................. | (Korea) |
Between the Operating Consortium and the Participating Banks, the Trade Bank of Iraq is able to reach every corner of the world. Our Partners presence throughout the world is truly impressive.
