Trade Bank of Iraq to join international FX communityNovember 26, 2009
BAGHDAD / Aswat al-Iraq: The Trade Bank of Iraq (TBI) will be the first Iraqi bank to connect to Thomson Reuters global foreign exchange trading service, the CNN said in a report.
“This deal reinforces Thomson Reuters strong position in the FX dealing space and further expands its global dealing community,” according to the report.
“TBI, a state-owned bank, was established in July 2003 to facilitate Iraq’s international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Programme.
TBI has built relationships with a network of 120 banks covering 63 cities in 39 countries. It was one of the first Iraqi banks to receive lines of credit from major international financial institutions.”
“By joining the professional international FX community through Thomson Reuters Dealing, TBI will be able to access liquidity and counterparties across global FX and money markets,” according to the CNN.
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