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Najaf, one the main religious cities in Iraq and a major tourist and commercial center, is about 160km south of Baghdad.
"The city has an estimated population of about one million people, who should benefit a great deal from TBI's services. We are happy with the welcome we received by the business community of the city of Najaf who are looking forward to TBI bringing new banking services to the city,"
said TBI's chairman Hussein Al-Uzri.
The Bank has grown impressively in its volume of trade: the volume of Letters of Credit issued has now reached approximately $30bn for the last four years.
The Bank was accordingly recognised last week by Trade and Forfaiting Review Magazine with the award of 'Best Trade Bank in the Middle East 2008'; TBI has won this for the second year running.
TBI was the first Iraqi bank to issue Visa cards in 2005 and has recognised the need for an increased number of ATMs and services to cater for demands.
Further TBI branch openings are planned in the coming months.
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Posted by Lara Lynn Golden, News Editor
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