Region Trade Bank (RTB) has announced the appointment of a new Board of Directors comprising internationally recognised leaders in financial integrity, banking supervision, sanctions policy and payment systems, underscoring its commitment to strengthening governance as Iraq’s financial sector continues its modernisation.
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 recognised financial organisations. Collectively, the board offers decades of experience across financial regulation, anti-money laundering, sanctions compliance, payment infrastructure, banking supervision and international financial policy.
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 extensive expertise in financial oversight and governance.
Chief Executive Officer Yilmaz Ugur Ay continues to lead the bank, bringing more than two decades of experience in corporate banking, trade finance and credit risk across Iraq and Türkiye.
While discussions surrounding sustainable finance often focus on environmental goals, governance remains one of the essential pillars of ESG. Transparent leadership, effective oversight and internationally recognised compliance frameworks help strengthen financial resilience, encourage responsible investment and support sustainable long-term growth.
For financial institutions, robust governance can reinforce confidence among customers, correspondent banks, investors and international partners. Strong governance also supports responsible lending, operational resilience and the ability to participate more effectively in global financial markets.
Founded in 2001 and licensed by the Central Bank of Iraq, RTB has grown into one of Iraq’s leading private banks with 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, project finance and international payments through SWIFT and RTGS systems.
Chief Executive Officer Yilmaz Ugur Ay said the appointments represent a long-term investment in the institution. “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.
As sustainable finance continues to mature, governance is increasingly recognised as a strategic asset that enables institutions to build resilience, strengthen stakeholder confidence and support sustainable economic development. RTB’s strengthened board reflects this direction by reinforcing the bank’s commitment to transparency, institutional resilience and responsible growth while supporting Iraq’s continued integration into international financial markets.
