Doha, Qatar: Region Trade Bank (RTB) has announced the appointment of a new Board of Directors comprising internationally recognised experts in financial integrity, banking supervision, sanctions policy and payment systems, reinforcing the bank's commitment to international best practice as Iraq's financial sector continues to strengthen its regional and global connections.
The appointments bring together former senior officials from institutions including 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 leading international financial organisations. Collectively, the board brings decades of experience in banking regulation, financial oversight, payment systems, compliance and international financial policy.
The new 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, former Associate Director at the U.S. Treasury's Office of Foreign Assets Control (OFAC); Dr. Jorge Jimenez, an internationally recognised authority on payment systems and digital resilience; Ilze Znotina, former Head of Latvia's Financial Intelligence Unit and FATF assessor; Hashim Hamandi, Senior Economist at the U.S. Treasury; Adnan Kifayat, former senior official across the U.S. Treasury, the White House National Security Council and the U.S. Department of State; Basil Kiwan, who previously served at the FDIC, Federal Reserve and U.S. Treasury; and Raed Hijazein, a senior regional banking executive with extensive experience across Middle Eastern financial markets.
The bank continues to be led by Chief Executive Officer Yilmaz Ugur Ay, whose career spans more than two decades in corporate banking, trade finance and credit risk across Iraq and Türkiye.
The appointments come as economic cooperation across the Gulf continues to accelerate. Growing trade, investment and infrastructure partnerships between Iraq and Gulf states are increasing demand for financial institutions capable of supporting secure cross-border transactions, international business and long-term commercial relationships.
Founded in 2001 and licensed by the Central Bank of Iraq, RTB has developed into one of Iraq's established private banking institutions. Today, it operates branches across Erbil, Baghdad, Sulaymaniyah, Duhok, Kirkuk, Zakho, Mosul, Ramadi and Basra, providing a comprehensive range of retail, corporate and institutional banking services.
Its offering includes current and savings accounts, commercial banking, SME finance, project financing, digital banking solutions, salary domiciliation and international transactions through SWIFT and RTGS payment systems in multiple currencies. The bank has continued investing in technology, customer service and governance while expanding its nationwide presence.
Chief Executive Officer Yilmaz Ugur Ay said the appointments represent a long-term investment in the institution's future.
"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," he said. "Our customers and partners deserve nothing less, and this is how we deliver on that promise."
The announcement comes at a time when Qatar and other Gulf economies continue strengthening commercial engagement across the region. As investment flows expand and private-sector partnerships increase, financial institutions with internationally recognised governance standards are expected to play an increasingly important role in facilitating trade, supporting investment and enabling greater economic connectivity.
Qatar's continued focus on economic diversification and regional investment has reinforced the importance of strong financial institutions capable of supporting businesses operating across multiple markets. Well-governed banks are increasingly viewed as essential partners in facilitating cross-border commerce, financing infrastructure and supporting private-sector growth throughout the Middle East.
RTB's strengthened leadership reflects its commitment to transparency, institutional excellence and responsible growth while supporting Iraq's deeper integration into regional and international financial markets. By bringing together globally recognised expertise in financial integrity and banking supervision, the bank is positioning itself to support expanding commercial relationships across the Gulf and contribute to the region's continued economic development.
