Region Trade Bank (RTB, formerly Emerald Bank)
This page sets out what the record shows about Region Trade Bank (RTB, formerly Emerald Bank). It names the owners and managers, gives the dollars the bank bought from the Central Bank in the years whose records survive, lists the requests that the Central Bank refused and describes the action that regulators took against the bank.
مصرف تجارة الإقليم للاستثمار والتمويل
Name, licence and status
- Name in English
- Region Trade Bank (RTB, formerly Emerald Bank)
- Name in Arabic
- مصرف تجارة الإقليم للاستثمار والتمويل
- Other names
- Emerald Bank (اميرالد)Former name in the Central Bank's list of banks and in its statistical bulletin.
- Emerald Bank (اميرالد)
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BRTB
- Established
- 23 November 2006
- Licence
- No. 408/3/9 of 1 March 2007
- Regulatory measures
- No sanction, ban or fine recorded as of the date of writing
- Securities Commission page
- Iraq Securities Commissionisc.gov.iq
Ownership
The Iraq Securities Commission page names no shareholder with about 10 per cent or more. The shareholder tables of the annual reports are not yet in the record.
Political or armed-group links reported by sources
- Board (from June 2026) chaired by Marshall Billingslea, former US Assistant Secretary of the Treasury for Terrorist Financing; board includes former Treasury/OFAC/FATF officials (according to the bank's statement)According to: Rudaw 30 June 2026; Iraq Securities CommissionTier DTier BRudawIraq Securities Commission
Owners and managers
| Name | Role | Share | As of | Legal status | Source |
|---|---|---|---|---|---|
Chairman | Not stated | Not stated | Not charged as of the date of writing | Iraq Stock ExchangeIraq Securities CommissionCentral Bank of Iraq[1][2]Rudaw | |
Raed Hijazein رعد صبيح جميل الحجازين | Vice-chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Yilmaz Ugur Ay يلماز اغور آي | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Ilze Znotina الزي زنوتينا | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Jorge Jimenez خورخي خيمينيث غونزاليز | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Hashim Hamandi هاشم وديع حمندي | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Gregory T. Gatjanis غريغوري توماس اجانتيش | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Adnan Kifayat عدنان كيفايت | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Basil Kiwan باسل كيوان عبد الرزاق عبد المالك | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
شوكت عبد العزيز سرحان | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
صباح ملحم محى | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
دلشاد عبد العزيز سرحان | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
عماد جميل جاسم | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
عبد المطلب حسن صمد | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
برزان فكري احمد | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
سروان صديق مصطفي | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
عوني فاخر عبد الرحمن | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
سروان حسن صمد | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
كوي عبدالله جنيد | Shareholder | 9.98% | 27 June 2024 | Not charged as of the date of writing | mubasher.info |
Dollars bought from the Central Bank
Dollars bought from the Central Bank, by year
In billions of dollars. Verified rows of the Central Bank's daily records.
| Year | Dollars bought | Cash | Transfers abroad | Share of the year's named sales | Refused | Value of the price gap |
|---|---|---|---|---|---|---|
| 2012 | $10m | $0 | $10m | 3.7% | Not stated | $175,000 |
| 2013 | $2bn | $207.1m | $1.8bn | 4.3% | $907.3m | $79.3m |
| 2014 | $1.6bn | $142.8m | $1.5bn | 4.6% | $234.4m | $35.5m |
| 2015 | $1.9bn | $31.2m | $1.8bn | 5.8% | $13m | $84.1m |
| 2016 | $990.1m | $23.6m | $966.5m | 3.8% | Not stated | $64.6m |
| 2017 | $465.8m | $14.1m | $451.7m | 2.3% | Not stated | $22.2m |
| 2018 | $5.6m | $0 | $5.6m | 3.5% | Not stated | $176,404 |
| 2019 | $485.3m | $1.3m | $484m | 4.3% | Not stated | $2.7m |
| 2020 | $6m | $0 | $6m | 3.3% | Not stated | $195,122 |
| Total | $7.5bn | $420m | $7bn | $1.2bn | $288.9m |
Share of the year's named sales: the bank's part of all the dollars that the surviving records attribute to a named bank in that year.
Refused: the requests that the Central Bank's committee turned down. Its minutes survive only from January 2013 to February 2015. An empty cell means that no minutes survive for that year. The yearly figures come from the yearly ledger. The figure at the top of the page comes from the committee's minutes. The two can differ.
What the Central Bank refused
From January 2013 to February 2015 the Central Bank's committee recorded, day by day, which requests for dollars it turned down and why. Its minutes record 173 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $2.2 billion, and $1.2 billion of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as read from the scanned minutes | Category |
|---|---|---|---|---|
| 5 September 2013 | $29.6m | $25.6m | 1. استبعدت الحوالة لاغراض تدقيقية 2. استبعد من النقد لتكرار اسماء الزبائن في قوانم البيع مع مصرف الاعتماد اللبناني ,شركة هه مون ) (punctuation adjusted) | Same customer or name repeated; Held for audit |
| 3 September 2013 | $30.4m | $20.3m | لاغراض تدقيقية | Held for audit |
| 22 August 2013 | $24.6m | $20.2m | لعدم توفر رصيد في حساب المصرف الجاري | Missing or defective documents |
| 18 September 2013 | $20.1m | $20.1m | اغراض تدفيقيه | Held for audit |
| 6 June 2013 | $24m | $20m | لعدم كفاية رصيد المصرف لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 10 September 2013 | $20m | $20m | Not stated | Not stated or unreadable |
| 16 December 2013 | $18.3m | $18.3m | Not stated | Not stated or unreadable |
| 7 September 2013 | $22m | $18m | اغراض تدقيقية | Held for audit |
| 2 November 2014 | $16.7m | $16.7m | متبعاد الحوالمة بالكامل لاختلاف تاري تمارة التقديم عن طلب الشرا. | Name or data do not match |
| 30 October 2013 | $20.1m | $16.1m | على استمارة الشراء | Other |
| 27 February 2014 | $15.9m | $15.9m | توقيع الاقرار من قبل مراقب الامتثال بدلا ن مدير متابعة غسل الاموال | Customer flagged under anti-money-laundering rules |
| 2 September 2013 | $25.4m | $15.3m | حسب طلب المصرف بكتابهم المرقم 666 في 2013/9/1 | Penalty on, or suspension of, the bank; At the bank's request |
The reasons were read from scanned pages of the Central Bank's minutes, the reading may contain errors, and the scanned page is the authority. Each reason is given in Arabic. Where a reason is marked “punctuation adjusted”, only its punctuation was changed. The category is ours.
Enforcement actions
No enforcement action against this bank is recorded here.
Sources
- Iraq Stock ExchangeAccessed 25 September 2026Tier BISX company profiles (companyprofile.html) for 49 listed banks: establishing date, listing date, capital, managing director
e.g. BHAM مصرف حمورابي: تاريخ التأسيس 26/08/2020؛ تاريخ الإدراج 04/08/2024 | BTRI مصرف عبر العراق للاستثمار: تاريخ التأسيس 21/05/2006 | BLAD مصرف العطاء الاسلامي: تاريخ التأسيس 06/07/2006 | BBAY مصرف بابل: المدير المفوض احمد عباس احمد / الوصي
- Iraq Securities CommissionAccessed 25 September 2026 (the page does not show the dates of disclosure)Tier BIraq Securities Commission (هيأة الأوراق المالية) listed-company pages: 'النسب المؤثرة' (significant shareholdings) and 'أعضاء مجلس الإدارة' (board) for banks
مصرف الاتحاد العراقي ... النسب المؤثرة: 1 عقيل مفتن خفيف البيضاني 13% ... 3 محمد مفتن خفيف البيضاني 13% | أعضاء مجلس الإدارة: عبد الكريم ابراهيم علي رئيس مجلس الادارة ...
Translation: Union Bank of Iraq ... Significant holdings: Aqeel Meften Khafeef al-Baidhani 13%; Mohammed Meften Khafeef al-Baidhani 13% | Board: Abdul Kareem Ibrahim Ali, chairman ...
- Central Bank of IraqAccessed 25 September 2026Tier Bالمصارف الاهلية المحلية (Private local banks: licence numbers/dates, managers, status marks)
الأقليم التجاري للاستثمار والتمويل ( اميرالد سابقا ) ... 408/3/9 2007/3/1 | الهدى ( ممنوع من التعامل بالدولار ) ... 136/3/9 2008/1/14 | مصرف بابل ( تصفية ) ( ممنوع من التعامل بالدولار ) ... المصفي، د.أحمد عباس أحمد | دار السلام للأستثمار ( حراسة قضائية ) | الشمال للتمويل والاستثمار ( وصاية ) | الطيف الإسلامي للإستثمار… Read the rest
والتمويل ( وصاية )( ممنوع من التعامل بالدولار ) | المال الإسلامي للإستثمار ( ممنوع من التعامل بالدولار ) ... 845/3/9 في 2018/12/9(punctuation adjusted)Translation: Region Trade Bank for Investment & Finance (formerly Emerald) ... licence 408/3/9 of 1 Mar 2007 | Al-Huda (barred from USD dealing) ... licence 136/3/9 of 14 Jan 2008 | Babylon Bank (liquidation) (barred from USD) ... liquidator Dr Ahmed Abbas Ahmed | Dar Es Salaam (judicial receivership) | North Bank (guardianship) | Al-Taif Islamic (guardianship)(barred from USD) | Al-Mal Islamic (barred from USD) ... licence 845/3/9 of 9 Dec 2018
Original - Rudaw30 June 2026Tier DKurdistan bank establishes international board to boost investor confidence
According to the statement, the board is chaired by Marshall Billingslea, former Assistant Secretary of the US Treasury and former President of the Financial Action Task Force (FATF)
Original - Central Bank of Iraq23 October 2025Tier Aالنشرة الإحصائية السنوية / Annual Statistical Bulletin (2024 data; PDF created 23 Oct 2025), banks' establishment year, total assets, paid-up capital (pages 116 to 117) and ISX listing table (p.113)
Region Trade Bank for Investment 2007 1,051,981 300,000 مصرف الاقليم التجاري( اميرالد) | AL-Huda Bank 2008 412,604 250,000 | Erbil Bank 2010 | International Development Bank 2011 | Hammurabi Commercial Bank 2020 | Ur Islamic Bank 2018 334,815 250,000
Original