Trade Bank of Iraq to open first Saudi branch

The TBI will be the only active Iraqi bank in Saudi Arabia. (Facebook)
Updated 17 April 2019

Trade Bank of Iraq to open first Saudi branch

  • TBI was ranked No. 1 in the cost to income category in the Middle East by The Banker

RIYADH: The Trade Bank of Iraq (TBI) is entering the Saudi market with the opening of a branch in Riyadh on Thursday. It will be the bank’s first operational branch outside Iraq, and the TBI will be the only active Iraqi bank in the Kingdom, TBI Chairman and President Faisal Al-Haimus told Arab News on Tuesday.
On Thursday, a ribbon-cutting event will be held at the Riyadh branch in Al-Olayya district. Attendees on the Iraqi side will include Al-Haimus, the prime minister, the finance minister and the Central Bank’s governor. Saudi officials will also attend.
The TBI’s board of directors has also expressed plans to expand to Turkey.
TBI was ranked No. 1 in the cost to income category in the Middle East by The Banker.


TheFace: Deema Al-Jaafari, Saudi entrepreneur

Updated 10 min 28 sec ago

TheFace: Deema Al-Jaafari, Saudi entrepreneur

  • I truly believe that if you set limits to your abilities you will never be able to exceed them
  • I founded Teak Woodwork in Alkhobar which has extended its services to cities including Jeddah and Riyadh

For nine years, I was the only child in my family. My father was a very independent, strong character and I learned a lot from him.

Having started from zero, he taught me to work hard, seek perfection and always believe that anything was possible if you set your mind to it. 

My mother was very easy going and encouraging. She really believed in me and was always supportive. There was a balance at home for me with these two different characters.

Some people might think that being an only child for quite some time, I was spoiled and dependent. But that was never the case and I have an amazing relationship with my little sister Maha; she is my best friend.

My father works in pharmaceuticals and is chairman of the board of directors at Al-Dawaa Medical Services.

My mother was a schoolteacher before entering the world of business, and my sister is a chemical engineer. Though we are a very diverse family, we all have an appreciation for art which is evident in our household. My mother is an artist and art collector too.

I do not have a role model; there are many people I look up to in the business world and in my social life. 

I studied software engineering and worked in that field for almost a year, but although I learnt a lot I wanted more from my career. Software engineering made me think and solve problems in a different way and it played a major role in how I operate in the field of business.

I worked at Al-Dawaa for almost two years and found that I was more attracted to business and marketing than the technical side of things. That is when I decided to take on the family business, Waleed Al-Jaafari Establishment.

I run PIECES, a retail store I founded in Alkhobar in 2012 and later opened a branch in Riyadh in 2014. Now, we are working to make it an online business too.

I noticed that there was a demand in the Kingdom for custom-made furniture, and although some stores offered the service there was little choice. So, I decided to provide high-quality furniture made in Saudi Arabia.

In 2015 I founded Teak Woodwork in Alkhobar which has extended its services to cities including Jeddah and Riyadh. My father has other branches dealing with different fields, but I opted to run the retail store and woodwork services. 

I truly believe that if you set limits to your abilities you will never be able to exceed them. Once you realize that there are no limits, all doors will open for you.