The Economist Intelligence Unit (EIU) has recently praised the performance of the Trade Bank of Iraq (TBI), which started operations in November 2003 and soon obtained guarantees for short-term credit worth US$2.4bn from 17 international export-credit agencies. The new trade bank has been supported from the outset by an international banking consortium led by JP Morgan Chase & Company–the key to worldwide acceptance for the Iraqi bank’s letters of credit ...