The Trade Bank of Iraq has opened its branch after reintegration in the Green Zone. The General Director of Trade Bank, Faisal Alheims issued a statement that the decision was due to empower the identity of the Bank by the integration designs of its branches in Baghdad. He said that all the provinces will present the values and objectives of Iraqi Trade Bank to provide much better services. He also highlighted the positive developments in the Iraqi banking sector by offering new products and services. It would keep up everything in boosting the status of Iraqi banks locally and internationally. He said that we are doing our best to improve our services in our entire nationwide branches to offer our products and our welcome message to customers of institutional and retail sectors. The Governor of Iraqi Central Bank also attended the opening ceremony including a number of members from the Iraqi House of Representatives.
Managers from a number of local and foreign banks operating in Iraq and representatives of Iraqi Banks Association also participated in this ceremony. It is important that the Bank was established in the month of July 2003 as an independent government entity in order to facilitate in the operation of import & export of goods and services to serve the economy of Iraq and restoration process in the county. It was established to meet the humanitarian requirements in the country and to support reconstruction of Iraqi economy and to reconstruct infrastructure in the best interest of Iraqi people. The Bank started working with estimated capital of 100 million U.S dollars and it has grown with one trillion, fifty billion and seven hundred Iraqi dinars. This enhancement placed the Bank in one of the leading banks in the Middle East in the trade finance sectors. The Bank has signed framework agreements with 26 international institutions.