Muscat: Trade Bank of Iraq (TBI) has been presented with two prestigious financial industry awards in recognition of its ongoing work to expand and develop the banking services landscape for its private and business customers in Iraq.
TBI was presented with the titles of ‘Best local Bank in Iraq 2018’ and ‘Best investment Bank in Iraq 2018’ at the EMEA Finance Awards.
Hosted by EMEA Finance magazine, the leading source of news and expert financial industry comment and analysis in the region, the awards saw some of the leading figures and institutions from the Middle East banking industry assemble at the Shangri-la Hotel Dubai.
TBI was presented with the ‘Best local Bank in Iraq 2018’ award in celebration of its far-reaching achievements in updating and upgrading the banking services industry in its home country.
The bank has invested heavily in essential infrastructure and organisation across its nationwide network to provide the latest banking products, systems and services to customers.
TBI has continued to expand its chain of branches and ATMs as well as improving its banking capabilities by extending opening hours and introducing night deposit facilities.
These initiatives, along with special savings and deposit schemes, have enabled TBI to reach even more customers and develop new business opportunities across Iraq.
The presentation of the award for ‘Best investment Bank in Iraq 2018’ celebrates TBI’s position as the leading institution in the banking sector in Iraq with an 80% market share of trade finance business.
A pillar for the national economy, TBI has continuously maximized the Government of Iraq’s equity share through expanding its business locally and internationally.
Encouraging and securing foreign investment is one of TBI’s key goals as it promotes the country and its own services as a reliable option for investors.
Last year, TBI signed a multi-million-dollar agreement with General Electric (GE) and Standard Chartered Bank (SCB) to fund Iraq’s ‘Power up Plan’ that aims to deliver electricity to homes and business nationwide.
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, who received the awards, said: “We are delighted to receive two titles, particularly as they were awarded by one of the region’s most trusted and respected sources of news related to the banking and financial industry.
“These awards acknowledge Trade Bank of Iraq’s continuing work to develop the financial services sector across Iraq and bring world-class banking systems and facilities to our clients.
“The awards are gratifying as it recognises the hard work being carried out by our staff to support our customers and clients on the ground each day and also helps to further cement our status as the go-to bank for companies and institutions looking to make smart investments in the future of Iraq.”