Trade Bank of Iraq has opened a representative office in Abu Dhabi, becoming the first and only Iraqi trade finance bank to have a presence in the UAE. The government owned bank, which holds 80% market share in Iraq, has opened its first international office at Abu Dhabi Global Market on Al Maryah Island. The bank said this presence in the UAE will help it further promote investment opportunities in Iraq and to establish relationships with key institutions within the UAE’s banking and finance sectors. Dr Ali Alaq, governor of the Central Bank of Iraq, who was present at the launch of the office, said this is a hugely significant day for TBI, the financial sector of Iraq and the country as a whole as this will be the first Iraqi trade finance bank in the UAE.
