View Full Version : Trade Bank of Iraq Doubles Capital

Investors Iraq News
10-15-2012, 10:17 AM
By John Lee.
The Iraqi Cabinet has agreed to double the capital of state-owned Trade Bank of Iraq (TBI) to one trillion Iraqi dinars [$858 million], according to a report from Bloomberg
Baghdad-based TBI is under investigation for alleged irregularities, and an arrest warrant (http://www.iraq-businessnews.com/2011/06/05/iraq-issues-arrest-warrant-for-bank-chief/) has been issued for its former president and chairman, Hussein al-Uzri. He has since been replaced by Hamdiya Al-Jaf [Hamida al-Jaf] (http://www.iraq-businessnews.com/2011/06/07/maliki-appoints-new-boss-to-trade-bank-of-iraq/).
In a Reuters interview, Uzri (http://www.iraq-businessnews.com/2011/06/15/exiled-tbi-boss-denies-allegations-open-letter-from-banks-advisor/) said the allegations were fabricated and called himself a victim of a power grab by people close to Maliki.
(Source: Bloomberg)

Source: Iraq-BusinessNews.com. (http://www.iraq-businessnews.com/2012/10/15/trade-bank-of-iraq-doubles-capital/)

Post your commentary below.