Trade Bank of Iraq upgrades Misys systems

New core banking, trade services and branch automation apps to help TBI drive Iraq economy

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By  Mark Sutton Published  November 11, 2008

Trade Bank of Iraq (TBI) is set to deploy an integrated solution from Misys to improve its services and expand into universal banking.

As a government-owned commercial bank, TBI is responsible for facilitating Iraq’s international trade and reconstruction program, and is therefore looking to improve trade financing to boost Iraq’s economy.

The bank will upgrade its core banking system to the latest version of Misys Equation, and will also integrate Misys Trade Innovation Plus 2.0 trade services application and the Equation Branch Automation application.

Hussein Al-Uzri, chairman of TBI said: “Our reputation is built on excellence performance and we continue to exceed performance expectations. Selecting a company with Misys’ pedigree and experience is important in helping us achieve our ambitions. Thus, through an open trade and investment regime, an investor-friendly business environment is dawning. This will confirm our position as one of the biggest and most successful trade finance banks in the Middle East.”

The new solution will be deployed at the TBI head office in Baghdad, with the EBA system supporting staff in the bank’s six branches. The system will also be integrated with other channels for banking services like ATM and online.

Roy Froud, Head of Middle East and Africa, Misys Banking said: “Trade Bank of Iraq is playing an important role in helping with the economic rehabilitation of Iraq. The strength of the Misys solution and our experience in retail banking and trade finance were important factors in our winning the contract.”

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