“Introducing modern, innovative baking to the Iraqi market”
TBI was established in July 2003 to facilitate Iraq’s international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Programme. The purpose of the Bank is to be a catalyst for the regeneration of the Iraqi economy ad a force for modernisation.
The Bank quickly developed into a highly credible and effective organization. In a short period of time, TBI built relationships with an international network of 134 prime banks covering 63 cities in 39 countries. An early success was signing agreements with 17 of the largest Export Credit Agencies around the world.
“Strengthening the Bank’s services”
TBI focuses primarily on trade finance and project finance. The Bank issues Letters of Credit, provides direct finance for major infrastructure projects in Iraq and arranges larger loans via groups of banks. TBI is also working on increasing the number of Visa Cardholders and the network of ATMs in Iraq as part of a well-planned strategy.
“Iraq is open for business”
The general economic picture has substantially improved.
Major steps have been taken to open up the oil sector to international oil companies. Iraq’s trade volumes continue to grow and substantial investment opportunities are emerging, with promising returns.
“Our correspondent network consists of well regarded banks and our client base includes public and private sector institutions.”
TBI has built relationships with a network of 134 prime banks covering 63 cities in 39 countries.
The Bank has since widened its international banking network beyond the original Consortium Banks as part of a strategy of attaining wider geographic reach, and greater diversity of services.
“TBI has a history of being first in Iraq: first bank to automate its banking operations; first to issue Visa cards; first to introduce ATMs”
TBI continues to work towards strengthening the Iraqi private banking sector and modernising the banking industry as a whole. Our branch network is expanding and our correspondent bank network growing.
TBI Annual Report13,527 Kb
TBI Report4,118 Kb
TBI Brochure1,434 Kb
The general economic picture has substantially improved. Inflation came down from 17% to 12% in 2008. Major steps have been taken to open up the oil sector to international oil companies. Iraq’s trade volumes continue to grow and substantial investment opportunities are emerging.
Long term, the most effective security solution is economic growth and job creation. The Central Bank of Iraq is fighting a successful battle against inflation and the currency is strengthening.
Past obstructions to effective business are being removed, and Iraq is doing everything possible to help its private sector flourish. Thus, through an open trade and investment regime, an investor-friendly business environment is developing.
There are different legal regimes to attract foreign investment. Today, in most cases, foreign investors have been granted the same rights as national investors vis-à-vis their investments. Iraq's new Investment Law, approved in 2006, guarantees a climate where foreign investment is facilitated.
Project finance is going to be a major source of income for us in the coming years. We will see more investors coming to Iraq when they realise the scale of what needs to be done, as well as the opportunities all these projects will offer.
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