Trade Bank of Iraq (TBI) has become the first bank in Iraq to join Thomson Reuters global foreign exchange trading service.

The service will allow the bank to access liquidity and counterparties across global FX and money markets.

TBI traders will also use Reuters 3000 Xtra, the company's real-time, high-performance desktop that delivers a full range of real-time, cross asset data and analysis tools for global financial professionals.

Zaid Mahdi, vice-president, business development at Trade Bank of Iraq, said, "This connection to the international foreign exchange community via the world's leading source of intelligent business information is a milestone for Iraq and for the bank.

"The deal means that TBI will be able to widen the range of financial services it provides to help Iraqi businesses to trade internationally and grow. It is further evidence that business in Iraq is gradually returning to the international financial markets."

TBI, a state-owned bank, was established in July 2003 to facilitate Iraq's international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Programme. TBI has built relationships with a network of 120 banks covering 63 cities in 39 countries. It was one of the first Iraqi banks to receive lines of credit from major international financial institutions.