Tuesday 27 November 2018
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq
Baghdad - MENA Herald:

Trade Bank of Iraq (TBI) is celebrating the anniversary of the launch of its first international office in style, as it has been awarded a renowned ISO certification validating its continuous efforts towards successfully implementing international best practises.

TBI’s representative office in Abu Dhabi has been certified to ISO 9001:2015 Quality Management System certification following a recent audit by LMS Certification Limited. The certification is the world's most established quality framework, used by more than one million organisations in 170 countries, and sets the standard for quality management systems.

It confirms that TBI has met the requirements of the ISO standard for its quality management system across its operations, including a strong customer focus, the process approach and its drive for continual improvement.

The Bank’s decision to obtain recognition of the compliance of its Abu Dhabi office with the most recent version of the ISO 9001 standard is a means to continue improving the quality, efficiency and transparency of its functioning.

Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, said: “We are delighted that our continued hard work has been recognised and we see it as one more step in ensuring that all of our services are administered with the highest standards.

“Trade Bank of Iraq always aims to be a market leader when it comes to product innovation and customer service. This can only be achieved by successfully applying the best international banking practices using the latest technology and investing in human resources.

“These global credentials demonstrate our commitment towards operations in the region and providing best-in-class services and we feel it provides additional assurance to our customers that we are focused on continuous improvement and customer satisfaction.”

This milestone comes on the heels of TBI celebrating the first anniversary of its representative office in Abu Dhabi, which opened in November 2017 at Abu Dhabi Global Market on Al Maryah Island.

It has been a hugely successful first year as the satellite office has boosted the bank’s international credentials and has helped to initiate positive negotiations and partnerships in the region. The bank has also received approvals from the authorities to open a full branch in Saudi Arabia which is scheduled to open during early 2019.

The Abu Dhabi representative office played a significant role in enhancing relationships with entities such as GE, Standard Chartered Bank, Commerzbank and Mashreq. Also, it aided in the launch of the first Fixed Income fund in Iraq, a milestone in the development of the country’s financial and economic landscape.

It has also allowed TBI to promote investment opportunities in Iraq and to establish relationships with key institutions within the UAE’s banking and financial sectors.

TBI is making great strides towards reaching its strategic goals both in business and in assisting the ongoing reconstruction of Iraq as it continues to define its reputation as a competent institution with access to global financial networks.

Mr Al Haimus added: “TBI’s international presence acts as a perfect platform for businesses to gain access to Iraqi business networks and provide financial expertise to link them with opportunities in the growing Iraqi market.

“TBI will continue to play a major role in Iraq’s growth and we look forward to aiding the nation’s redevelopment with the support of our network of international institutions and forging new relationships with companies and banks across the world.”

As TBI moves forward with its strategic plan that will take the bank up to 2021, it continues to play a pivotal and hugely influential role in Iraq’s ongoing recovery and regeneration. The success of the bank’s endeavours are directly linked to the stability and prosperity of the country and have a far-reaching impact on Iraqi society.

TBI was recently awarded the Best Iraqi Bank by Global Finance magazine and won the Best Trade Finance Bank in Iraq by The Banker Middle East. TBI was ranked 1st place among Middle East banks in terms of Cost to Income Ratio, and ranked globally number 332, in terms of Tier One Capital by The Banker magazine.

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