Trade Bank of Iraq Launches Online Banking System to Better Connect Financial Services

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As part of its continued efforts towards helping meet its customers’ needs for a seamless banking experience, the Trade Bank of Iraq (TBI) has launched an online banking system and mobile app. 

Available in English and Arabic, the online banking system and mobile app will offer safe and secure banking convenience, allowing customers to conduct their banking transactions more easily.

Developed by the financial technology organisation Finastra, the launch of the online system and mobile app, which saw a successful soft launch back in April 2021, comes at a vital time in response to the Covid-19 pandemic; where people will be able to minimise the number of physical visits to TBI branches as well as save significant amounts of time.

Among the key features is the international money transfer option, a first-of-its-kind for Iraqi banks that will enable TBI customers to transfer funds to any bank around the world. As well as having access to their accounts and finding out their daily and monthly withdrawal limits, customers can also check the balance of each account, view their transaction history for up to one year, and check their bank statements.

The mobile app, which is available to download from the Apple App Store and Google Play, also enables customers to see the nearest TBI ATMs and branches.

“Today is a historic day for the Trade Bank of Iraq as we introduce our online banking system and mobile app for the first time,” comments Dr. Salem Jawad Chalabi, Chairman of the TBI and Chairman of the Board of Directors. “With more people using smartphones and computers and having access to the internet, the online banking system and mobile app will help take banking experiences to the next level.

“Safe and secure, they have both been created to make the everyday lives easier for our customers, giving them the opportunity to bank the way that suits them best. At the same time, it also provides more flexibility and convenience, allowing our customers to manage their accounts and money from anywhere at any time with just a few clicks of a button.

“This is a significant chapter in our history and one that will greatly enhance the customer experience, as well as facilitating TBI’s growth in Iraq and around the world.”

Since establishing in 2003, TBI has become one of the most prominent banks in Iraq. It has played an integral role towards reaching its strategic goals both in business and in assisting the ongoing reconstruction of Iraq, strengthening its reputation as a competent institution with access to global financial networks.

Having opened its first branch outside of Iraq in Riyadh, in the Kingdom of Saudi Arabia, TBI is planning on upgrading its representative office in the Abu Dhabi Global Market and expanding its network of branches both inside and outside Iraq; including an expansion into Europe.

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