Region Trade Bank becomes first Iraqi Bank to establish a board of global financial-integrity leaders

In a move that redraws the standards of Iraqi banking, Region Trade Bank (RTB) has become the first bank in Iraq to establish a Board of Directors composed of internationally recognised leaders in financial integrity, sanctions policy, payment systems, and banking supervision. The appointment marks a defining moment for the country's financial sector and signals RTB's ambition to operate at the highest tier of global compliance and governance.

The newly formed Board is chaired by Marshall S. Billingslea, former US Assistant Secretary of the Treasury for Terrorist Financing and former President of the Financial Action Task Force (FATF), who served as Special Presidential Envoy with ambassadorial rank across the US Departments of Treasury, Defense, State, and NATO. He is joined by a roster of figures whose experience spans the world's most influential financial institutions and regulatory bodies.

Board members include Gregory T. Gatjanis, former Associate Director at the US Treasury's Office of Foreign Assets Control (OFAC) and long-serving member of the White House National Security Council; Dr. Jorge Jimenez, former Federal Reserve payments executive and international authority on payment systems and digital resilience; Ilze Znotina, former Head of Latvia's Financial Intelligence Unit, FATF assessor, and sanctions reform specialist; and Hashim Hamandi, a current Senior Economist at the US Treasury Department and former executive at Citigroup, JPMorgan Chase, and Lazard.

They are joined by Adnan Kifayat, former senior official across the US Treasury, National Security Council, White House, and Department of State; Basil Kiwan, former senior official at the FDIC, Federal Reserve, and US Treasury; and Raed Hijazein, a senior regional banking executive with leadership experience at Standard Chartered Bank and Capital Investment (DIFC). Yilmaz Ugur Ay, a banking executive with more than two decades in corporate banking, trade finance, and credit risk across Iraq and Türkiye, serves as Chief Executive Officer.

The establishment of this Board arrives at a moment of sustained momentum for RTB. Licensed by the Central Bank of Iraq and listed on the Iraq Stock Exchange, the bank has built more than two decades of operations into one of Iraq's most stable and trusted financial institutions. Founded in 2001, RTB now serves customers through branches in Erbil, Baghdad, Sulaymaniyah, Duhok, Kirkuk, Zakho, Mosul, Ramadi, and Basra, with continued expansion planned across the country.

RTB offers a comprehensive suite of personal, corporate, and institutional services, including current and savings accounts, advanced electronic and online banking, commercial financing, project funding for small and medium enterprises, salary domiciliation, and international transactions enabled through the SWIFT and RTGS systems in multiple currencies. The bank's recent growth has been anchored in a commitment to innovation, customer-first service, and compliance aligned with the strongest local and international standards.

"Iraq's banking sector is entering a new era, and RTB intends to lead it," said Yilmaz Ugur Ay, Chief Executive Officer of Region Trade Bank. "Assembling a board of this calibre is not a symbolic gesture. It is a deliberate commitment to building an institution that meets the highest standards of governance and financial integrity anywhere in the world. Our customers and partners deserve nothing less, and this is how we deliver on that promise.”

The appointment positions RTB as a pioneer in Iraqi banking governance, reinforcing its reputation for stability, transparency, and forward-looking leadership as it continues to support and stimulate the Iraqi economy.

About Region Trade Bank

Region Trade Bank (RTB) is a leading Iraqi financial institution founded in 2001, licensed by the Central Bank of Iraq and listed on the Iraq Stock Exchange. Built on the principle of "By the People, For the People," RTB provides a full range of personal, corporate, and institutional banking services across Iraq. Learn more at https://rtb.iq/en.