November 27, 2007

The Trade Bank of Iraq (TBI) today confirmed its launch of an important new series of training sessions for Iraqi ministries, after the success of the three-day intensive training session the Bank hosted over the summer in Istanbul.

Financial and legal training of this level is unprecedented in Iraq and is testimony to the Trade Bank's leadership role in updating Iraq's banking system.

Hussein Al Uzri, chairman of TBI, said: 'we are proud to be the full-sponsor of such vital training events, the results of which should make a big contribution towards improving Iraq's adherence to the latest in international standard practices. TBI is committed to developing and modernizing Iraq's economy and believes that the training of Iraqi ministries in contemporary financial and banking procedures will go a long way in achieving this.'

At TBI's training conference in August, 35 representatives from the major importing Iraqi ministries attended and were trained by professionals from JPMorgan Chase (the lead bank in TBI's Operating Consortium) and Dallal & Associates law firm. The session covered the central topics of International Trade Dynamics, Contracts, Commercial Letters of Credit and Documentary Credits; delegates were also engaged in case studies, exposing them to latest developments in international trade.
TBI plans to hold its next training session in the coming months.

Source: AME Info FZ LLC