Region Trade Bank strengthens international governance as Iraq's banking sector deepens global engagement

Region Trade Bank (RTB) has announced the appointment of a Board of Directors comprising internationally recognised leaders in financial integrity, banking supervision, sanctions policy and payment systems, reinforcing the bank's commitment to international standards of governance and transparency.

The appointments bring together former senior officials from the U.S. Treasury, the Financial Action Task Force (FATF), the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the White House National Security Council and other globally respected financial institutions. Their combined experience spans financial regulation, compliance, payment systems and international banking.

The board is chaired by Marshall S. Billingslea, former U.S. Assistant Secretary of the Treasury for Terrorist Financing and former President of FATF. He is joined by Gregory T. Gatjanis, Dr. Jorge Jimenez, Ilze Znotina, Hashim Hamandi, Adnan Kifayat, Basil Kiwan and Raed Hijazein, bringing together expertise from both the public and private sectors.

Chief Executive Officer Yilmaz Ugur Ay continues to lead the bank, drawing on more than two decades of experience in corporate banking, trade finance and credit risk across Iraq and Türkiye.

Founded in 2001 and licensed by the Central Bank of Iraq, RTB has developed into one of Iraq's leading private banks, serving customers through branches across Erbil, Baghdad, Sulaymaniyah, Duhok, Kirkuk, Zakho, Mosul, Ramadi and Basra. The bank provides retail, corporate and institutional banking services, including digital banking, commercial finance, SME lending and international transactions through SWIFT and RTGS.

The announcement reflects a broader focus on strengthening governance, financial resilience and international cooperation. Banks operating to internationally recognised standards are increasingly well positioned to support cross-border trade, investment and commercial partnerships.

For European businesses and financial institutions, developments such as these are particularly relevant as commercial engagement between Europe and the Middle East continues to expand. Strong governance frameworks help facilitate international banking relationships and support growing trade and investment flows across the region.

"Assembling a board of this calibre is a deliberate commitment to building an institution that meets the highest standards of governance and financial integrity anywhere in the world," said Chief Executive Officer Yilmaz Ugur Ay. "Our customers and partners deserve nothing less."

With an internationally experienced leadership team and a continued focus on governance, innovation and customer service, RTB is positioning itself as a trusted banking partner for domestic and international clients. The appointments highlight the bank's ambition to contribute to Iraq's continued financial development while supporting stronger commercial connections with Europe and global markets.

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