Regional stock market indices Regional currency rates Trade Bank of Iraq to issue $10 billon in credit The Trade Bank of Iraq (TBI) aims to issue $10 billion in letters of credit in 2009. This represents an increase of 11.11 percent on 2008, amid increased private sector activity. Most of the bank’s business will remain in the public sector, with the addition of issuing around $1.8 billion in letters of credit to the private sector. In 2008, TBI’s net profit rose 41 percent to reach $359.3 million with a net operating income that rose 51 percent to reach $447.1 million. However, this profit will most likely remain flat this year as a result of the global economic crisis. The bank plans to enhance its domestic retail activities by opening five more branches in Iraq and three more branches abroad, in the United Kingdom, Turkey and Lebanon. It will also seek
