Business
Trade Bank of Iraq joins Thomson Reuters world-...
Trade Bank of Iraq joins Thomson Reuters world-....
About this update from Trifast Plc
[{"type":"text","content":"\n \n\n\n\nTrade Bank of Iraq- first bank in Iraq to join Thomson Reuters global\nforeign exchange trading service\n\nBaghdad & Dubai, 25 November, 2009 - Thomson Reuters today announced\nthe Trade Bank of Iraq (TBI) will be the first bank in Iraq to\nconnect to the international foreign exchange (FX) community using\nThomson Reuters Dealing trading service. This deal reinforces\nThomson Reuters strong position in the FX dealing space and further\nexpands its global dealing community.\n\nTBI, a state-owned bank, was established in July 2003 to facilitate\nIraq's international trade and the reconstruction of the country\nafter the expiration of the UN Oil-For-Food Programme. TBI has built\nrelationships with a network of 120 banks covering 63 cities in 39\ncountries. It was one of the first Iraqi banks to receive lines of\ncredit from major international financial institutions.\n\nBy joining the professional international FX community through\nThomson Reuters Dealing, TBI will be able to access liquidity and\ncounterparties across global FX and money markets.\n\nTBI traders will also use Reuters 3000 Xtra, the company's real-time,\nhigh-performance desktop that delivers a full range of real-time,\ncross asset data and analysis tools for global financial\nprofessionals. The Bank's dealing code will be TBIB.\n\nZaid A. Mahdi, Vice-President, Business Development at Trade Bank of\nIraq, said, \"This connection to the international foreign exchange\ncommunity via the world's leading source of intelligent business\ninformation is a milestone for Iraq and for the Bank.\n\n\"The deal means that TBI will be able to widen the range of financial\nservices it provides to help Iraqi businesses to trade\ninternationally and grow. It is further evidence that business in\nIraq is gradually returning to the international financial markets.\"\n\nJas Singh, Global Head of Treasury, Thomson Reuters, said, \"Thomson\nReuters has maintained a strong presence in Iraq over the last 10\nyears and we are delighted to support the development of its\nfinancial markets by equipping TBI with the right tools and\ninformation to trade with the wider world. We look forward to working\nwith them to open further opportunities as their banking systems\ndevelop\".\n\nThomson Reuters Dealing is used by nearly 18,000 professionals across\n5,000 organisations to t...