The Trade Bank of Iraq (TBI), was established by CPA vide order No. 20 in 2003 to facilitate Iraq's international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Programme .
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 261 prime banks - the Consortium banks being at its core - covering 63 cities in 39 countries. This gave TBI a truly global reach, a competitive advantage and the ability to provide a diverse range of services. By the end of 2007 TBI was fully capitalised at over US$100million and had total assets of over US$6.1billion.
An early success was signing agreements with 17 of the largest Export Credit Agencies around the world. Another was the fact that TBI was one of the first Iraqi banks to receive lines of credit from major international financial institutions.
TBI has a sound credit policy in place, and among the many other 'firsts' the bank can claim is the introduction of Iraq's first fully automated online banking system, being the first Iraqi bank to issue VISA credit cards, and the development of the first nationwide network of ATMs in the country. TBI is also the most experienced Iraqi bank in the issuance of Letters of Credit and Letters of Guarantee.
Building on its early success, TBI is now introducing modern, innovative products and services to the Iraqi market. These include Project Finance, Salary Accounts, Saving Accounts, and Credit Cards.