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Trade Bank of Iraq to open first Saudi Branch

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Trade Bank of Iraq to open first Saudi Branch Empty Trade Bank of Iraq to open first Saudi Branch

Post by claud39 on Wed Apr 17, 2019 7:33 am

Trade Bank of Iraq to open first Saudi Branch
17th April 2019 


Trade Bank of Iraq to open first Saudi Branch Trade-Bank-of-Iraq-TBI-logo-623x346




By John Lee.
The state-owned Trade Bank of Iraq (TBI) will reportedly open its first operational branch outside Iraq on Thursday.
Chairman and President Faisal Al-Haimus told Arab News that the new branch in Saudi capital Riyadh will also be the only active Iraqi bank in the Kingdom.
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Trade Bank of Iraq to open first Saudi Branch Empty The Iraqi Trade Bank opens its first branch in Saudi Arabia in the presence of Abdul Mahdi

Post by claud39 on Wed Apr 17, 2019 12:58 pm

The Iraqi Trade Bank opens its first branch in Saudi Arabia in the presence of Abdul Mahdi



Wednesday, 17 April 2019


Trade Bank of Iraq to open first Saudi Branch Irq_1255891328_1555485800



The Iraqi Trade Bank, the Saudi market, will open its branch in Riyadh on Thursday in the presence of Prime Minister Adel Abdul Mahdi. "The bank will be the first operational branch of the bank outside of Iraq, and the Commercial Bank of Iraq will be the only active bank in the Kingdom," said Faisal Al-Hims, chairman of the bank. On Thursday, an event will be held in the Riyadh branch of Al-'Olayya district, among those present on the Iraqi side, Prime Minister Adel Abdul-Mahdi, Finance Minister Fouad Hussein and Central Bank Governor Ali Al-Alaq as well as Saudi officials. On a related note, the Chairman of the Board of Directors of the Commercial Bank of Iraq announced plans to expand in Turkey. "



http://aynaliraqnews.com/index.php?aa=news&id22=118049
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Trade Bank of Iraq to open first Saudi Branch Empty Trade Bank of Iraq to open first Saudi branch

Post by claud39 on Wed Apr 17, 2019 4:19 pm

[size=37]Trade Bank of Iraq to open first Saudi branch[/size]




Updated 17 April 2019




Trade Bank of Iraq to open first Saudi Branch 1540841-1853681786




  • TBI was ranked No. 1 in the cost to income category in the Middle East by The Banker


RIYADH: The Trade Bank of Iraq (TBI) is entering the Saudi market with the opening of a branch in Riyadh on Thursday. It will be the bank’s first operational branch outside Iraq, and the TBI will be the only active Iraqi bank in the Kingdom, TBI Chairman and President Faisal Al-Haimus told Arab News on Tuesday.
On Thursday, a ribbon-cutting event will be held at the Riyadh branch in Al-Olayya district. Attendees on the Iraqi side will include Al-Haimus, the prime minister, the finance minister and the Central Bank’s governor. Saudi officials will also attend.
The TBI’s board of directors has also expressed plans to expand to Turkey.
TBI was ranked No. 1 in the cost to income category in the Middle East by The Banker.

http://www.arabnews.com/node/1483636/saudi-arabia
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Trade Bank of Iraq to open first Saudi Branch Empty The Iraqi Commercial Bank opens the first banking branch in the Kingdom of Saudi Arabia

Post by claud39 on Thu Apr 18, 2019 1:01 pm

Trade Bank of Iraq to open first Saudi Branch DSC_3137.1






April 18, 2019


[rtl]In the presence of the Deputy Prime Minister in Iraq and the Governor of the Saudi Monetary Agency[/rtl]
[rtl]The Iraqi Commercial Bank opens the first banking branch in the Kingdom of Saudi Arabia[/rtl]
 

  • [rtl]The Bank opens its first branch in Saudi Arabia at Al-Tawawiya Towers, Al-'Olayya District, King Fahad Road.[/rtl]

  • [rtl]Is the first commercial finance bank of the Government of Iraq in the Kingdom of Saudi Arabia[/rtl]

  • [rtl]The new branch aims to expand relations with the banking and financial sectors in the Kingdom and promote investment between the two countries.[/rtl]

  • [rtl]Dr. Fuad Hussain, Deputy Prime Minister and Minister of Finance of Iraq, in the presence of HE Ahmed Al Khulaifi, Governor of SAMA, Turki Al Mutairi, Deputy Governor of SAMA, Dr. Maher Johan, Undersecretary of the Iraqi Finance Minister and Mr. Faisal Al-Hims, Iraqi Trade and Chairman of the Board. In addition to a group of senior government officials in Saudi Arabia and Iraq.[/rtl]


 
[rtl]Baghdad, Iraq, April 18, 2019 :[/rtl]
[rtl]His Excellency Dr. Fuad Hussein, Deputy Prime Minister and Minister of Finance of Iraq opened today the first branch of the Iraqi Bank for Trade in the Kingdom of Saudi Arabia in the presence of HE Ahmed Al Khulaifi, Governor of SAMA, , Dr. Maher Johan, Undersecretary of the Iraqi Minister of Finance, Mr. Faisal Al-Hims, President of the Iraqi Trade Bank and Chairman of the Board. This is in line with the Bank's plan to expand its business both regionally and globally. The ceremony was attended by senior Iraqi and Saudi officials, investors and representatives of the region's leading banks.[/rtl]
[rtl]The opening of the first branch of its kind outside Iraq in the framework of activating and revitalizing the movement and banking and commercial activity at the regional and international levels, and takes the new branch of the Saudi capital Riyadh-based.[/rtl]
[rtl]This step supports the Bank's efforts towards further growth and expansion. It also affirms the Bank's commitment to implementing international compliance standards in accordance with the banking model adopted in the global banking sector and contributing to the economic development of Iraq in order to achieve growth and prosperity for the country.[/rtl]
[rtl]The new branch will start banking and financial operations shortly after the completion of the procedures. The expansion of the BTI's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia to capitalize on opportunities. In the ever-growing Iraqi market.[/rtl]
[rtl]The Iraqi government is working on several projects in the Kingdom of Saudi Arabia, including a wide range of fields, aimed at developing and strengthening relations between the two countries.[/rtl]
[rtl]HE Dr. Fuad Hussain, Deputy Prime Minister and Minister of Finance, said: "Today is a historic event for the financial sector in Iraq. The opening of the bank's first branch outside Iraq is a major step forward in enhancing Our relationship with the Saudi government, and we look forward to strengthening the bilateral cooperation between the two brotherly countries, especially after the support provided by the Kingdom to investors and investors to invest in Saudi markets. "[/rtl]
[rtl]The Bank of Iraq has opened a representative office in Abu Dhabi, the capital of the UAE, by the end of 2017. It has achieved significant strides in achieving its strategic objectives to witness a new phase that will enable it to sustain the Bank's sustainable growth and assist in the reconstruction of Iraq. And enhance its presence in the region's financial market as a financial institution with close ties to global financial networks.[/rtl]
[rtl]"Nastar today is a new success in the Bank of Iraq's record of achievements, and we are all employees, partners and clients who are proud of this big move," said Faisal Al-Hims, Chairman and Chairman of the Iraqi Trade Bank. On the personal level, I have been waiting for this moment since we announced the expansion plan, and I look forward to seeing the significant economic benefits that the new branch in Saudi Arabia will bring to our strategic partners and customers. "[/rtl]
[rtl]I thank the Custodian of the Two Holy Mosques and His Highness the Crown Prince for their efforts to support and facilitate the opening of our branch in Riyadh, capital of Saudi Arabia, and the rest of our partners in the Kingdom. "[/rtl]
[rtl]The Bank of Iraq operates in accordance with its long-term strategic plan for 2021 and plays a significant and significant role in the reconstruction and sustained growth of Iraq's economy in 2021. Its success is directly linked to the stability and prosperity of the country and has a strong impact on Iraqi society.[/rtl]
[rtl]-is over-[/rtl]
[rtl]About the Iraqi Trade Bank:[/rtl]
[rtl]Established in 2003, the Bank is the first bank in the country, accounting for about 80% of commercial finance in Iraq and ranked first among Arab banks in terms of cost-to-income ratio and ranked 332 in the world in terms of Tier 1 capital. The bank has established 25 branches throughout Iraq, offering a wide range of banking services to all clients including corporations, individuals and government institutions. As part of its ongoing efforts to expand its customer base and expand into new markets.[/rtl]




Trade Bank of Iraq to open first Saudi Branch DSC_3137.1


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Trade Bank of Iraq to open first Saudi Branch Empty The Iraqi Trade Bank opens a branch in Saudi Arabia

Post by claud39 on Thu Apr 18, 2019 2:25 pm

The Iraqi Trade Bank opens a branch in Saudi Arabia


04/18/2019





Trade Bank of Iraq to open first Saudi Branch 14632





Economy News Baghdad



Finance Minister Fouad Hussein opened Thursday the first branch of the Iraqi Bank for Trade in the Kingdom of Saudi Arabia.
The opening ceremony was attended by Saudi Arabian Monetary Agency Governor Ahmed Al Khulaifi, Saudi Arabian Monetary Agency (SAMA) Deputy Governor Turki Al Mutairi, Undersecretary of Finance Maher Johan and Iraqi Trade Bank Chairman Faisal Al-Hims.
The bank said in a statement, read by the economy news, that the  opening of the bank's branch is the first of its kind outside Iraq in the context of activation and revitalization of the movement and banking and commercial activity at the regional and international levels, noting that "it is based in the Saudi capital Riyadh."
He added that this step "supports the Bank's efforts towards further growth and expansion. It also affirms the Bank's commitment to implementing international compliance standards in accordance with the banking model adopted in the global banking sector and contributing to the economic development of Iraq in order to achieve growth and prosperity for the country."
The new branch will start its banking operations after completing all necessary procedures. "The expansion of the Iraqi Trade Bank's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia , To take advantage of the enormous opportunities in the Iraqi market, which is witnessing continuous growth. "
The Iraqi Trade Bank opened a representative office in Abu Dhabi, the capital of the UAE, at the end of 2017. 



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Trade Bank of Iraq to open first Saudi Branch Empty The opening of the first Iraqi bank in Saudi Arabia

Post by claud39 on Fri Apr 19, 2019 7:03 am

The opening of the first Iraqi bank in Saudi Arabia




19/04/2019





Trade Bank of Iraq to open first Saudi Branch Rc_155565463537_23





The Saudi-Iraqi relations during the past two years have witnessed a development and desire by both sides to restore relations. Commercial rapprochement is emerging as one of the escalating issues. The Iraqi Bank of Iraq opened its first branch in Saudi Arabia on Thursday. 

The opening ceremony of the Iraqi Trade Bank was attended by Dr. Fuad Hussein, Deputy Prime Minister of Iraq and Dr. Ahmad Al-Khulaifi, Governor of the Saudi Monetary Agency, and the Iraqi Trade Bank will begin its operations in the middle of next month, which will be a point of contact in remittances and financing of Saudi and Iraqi companies in both countries. 

The opening ceremony coincided with an Iraqi visit to Saudi Arabia headed by Adel Abdul Mahdi, the Iraqi Prime Minister, during which a number of agreements were signed between the two countries.

Faisal Al-Hims, head of the Iraqi Trade Bank, said that the trade exchange between countries needs financial channels to promote this exchange, pointing out that the Iraqi Trade Bank since 2003 has enabled all imports of Iraq from all over the world through trade exchange and the network of correspondents. Countries with which trade is made make exchange easier. 

He added that the Iraqi banking sector since 2003 is developing, and that banks began to invest in human resources and automate their operations, including the Iraqi Trade Bank, adding that the bank has a capital base of two billion and 300 million dollars, in addition to shareholder equity of up to 4 billion dollars, The bank is ranked 13th amongst the top 100 banks in the Middle East.

"We are looking to form an overseas branch network," he said. "We started the opening of the executive office in Abu Dhabi last year and now we are opening a branch in the capital Riyadh," he said, adding that there was a plan to acquire a bank in the UAE. 

He pointed out that this opportunity will enhance trade communication and exchange of goods and investments between the two countries through the branch in Riyadh, adding that the interest of the bank is based on financing trade between the two countries, in addition to financing investors from both countries wishing to enter the Saudi or Iraqi market. 

Ahmed al-Khulaifi, governor of the Saudi Arabian Monetary Agency (SAMA), said at the opening ceremony of the bank that the number of requests by banks wishing to obtain a license with SAMA was no more than three or four requests, including local ones. 13 banking agents currently working in Saudi Arabia according to the new regulation.

The relations between Saudi Arabia and Iraq have witnessed great progress over the last four years after more than a quarter of a century, as a result of the tension during the second Gulf War in 1990. Saudi-Iraqi relations returned in 2015, and during the last four years, Between the two countries, including the visit of the Saudi Foreign Minister to Iraq in 2017, and the visit of former Iraqi Prime Minister Haider Abadi to Saudi Arabia twice. 

The visit of Adel Abdul Mahdi, the Iraqi Prime Minister, to Saudi Arabia signed 13 agreements in the trade, culture, education, oil, electricity and others, during which several meetings between ministers between the two countries.







http://www.uabonline.org/en/news/arabicnews/15751601157815781575158115711608160416051589158516/62898/0
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Trade Bank of Iraq to open first Saudi Branch Empty The Iraqi Trade Bank opens the first branch in Saudi Arabia

Post by claud39 on Sat Apr 20, 2019 7:56 am

[size=36][rtl]The Iraqi Trade Bank opens the first branch in Saudi Arabia[/rtl][/size]




Friday 19 April 2019





Trade Bank of Iraq to open first Saudi Branch Alsabaah-10635






Baghdad / Al-Sabah

Deputy Prime Minister and Minister of Finance Fouad Hussein opened the first branch of the Iraqi Bank for Trade (TBI) in the Kingdom of Saudi Arabia in the presence of the Governor of the Saudi Monetary Agency Ahmed Al-Khulaifi, the Deputy Governor of the Monetary Corporation Turki Al-Mutairi, and the Director General and Chairman of the Board of Directors of the Iraqi Trade Bank Faisal 
Homs.



The ceremony was attended by senior Iraqi and Saudi officials, investors and representatives of the leading banks in the region, "the bank said in a statement.



The statement quoted Deputy Prime Minister and Minister of Finance Fuad Hussein as saying: "Today is a historic event for the financial sector in Iraq, as the opening of the first branch of the bank outside Iraq is a big step forward to strengthen our relationship with the Saudi government, and look forward to strengthening ties Bilateral cooperation between the two brotherly countries, especially after the support provided by the Kingdom to investors and investors to invest in Saudi markets. "



"Nestor today is a new success in the Bank of Iraq's record of achievements, and we, as employees, partners and clients, are proud of this significant step," said Faisal Al-Hims, General Manager and Chairman of the Board.



"Personally, I have been waiting for this moment since we announced the expansion plan, and I look forward to seeing the significant economic benefits that the new branch in Saudi Arabia will bring to our strategic partners and customers."



"I thank the Custodian of the Two Holy Mosques and His Highness the Crown Prince for their high guidance to support and facilitate the opening of our branch in Riyadh, capital of Saudi Arabia, and the rest of our partners in the Kingdom," he added.



"The opening of the branch of the first bank of its kind outside Iraq in the framework of activation and revitalization of the movement and banking and commercial activity at the regional and international levels, and takes the new branch of the Saudi capital Riyadh-based."



"This step supports the Bank's efforts towards further growth and expansion. It also affirms the Bank's commitment to implementing international compliance standards in accordance with the banking model adopted in the global banking sector and contributing to the economic development of Iraq in order to achieve growth and prosperity for the country."



"The new branch will soon begin banking and financial operations shortly after the completion of the procedures. The expansion of the BTI's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia. Enormous opportunities in the Iraqi market, which is witnessing continuous growth. "



The government is working on several projects in Saudi Arabia that include a wide range of fields in order to develop and strengthen relations between the two countries.



The Bank of Iraq opened a representative office in Abu Dhabi, the capital of the UAE at the end of 2017, and has successfully strived to achieve its strategic objectives to witness a new phase that will enable it to sustain the Bank's sustainable growth and assist in the reconstruction of Iraq. And enhance its presence in the region's financial market as a financial institution with close links to global financial networks.



The Bank of Iraq operates in accordance with its long-term strategic plan for 2021 and plays a crucial and significant role in the reconstruction and sustained growth of Iraq's economy in 2021. Its success is directly linked to the stability and prosperity of the country and has a strong impact on Iraqi society.





http://alsabaah.iq/7600/%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%84%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D9%8A%D9%81%D8%AA%D8%AA%D8%AD-%D8%A3%D9%88-%D9%84-%D9%81%D8%B1%D8%B9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D8%A9
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