Hussein Al Uzri
Encyclopedia
Hussein Isam Al Uzri is the founder and was the Chairman of Board of directors
and President of the Trade Bank of Iraq
, until he fled from Iraq in June 2011 to avoid being taken into custody during an Iraqi government investigation into alleged violations. He is the Grandson of Abdul Amir Al Uzri, an Iraqi politician
in 1950 when Iraq
was a kingdom, who served as a minister
several times and as an ambassador
to Iran
. His great uncle is Ahmed Chalabi
, the well known Iraqi politician. In June 2011, Reuters reported that the Iraqi government issued an arrest warrant for Al Uzri, stemming from an investigation at the Trade Bank. As yet no details of the allegations, or supporting evidence have been presented.
Many inside and outside Iraq believe that this action is politically motivated. A British adviser to the bank's board, Sir Claude Hankes, condemned the move by Prime Minister Nuri al-Maliki's government as "political skulduggery". He said the bank had resisted efforts by members of the government to try to make it undertake "improper banking transactions".
During Hussein Al-Uzri’s stewardship, the bank, which was originally established as an arm of the government, grew from nothing to be the largest bank in Iraq. It now has international banking relationships with a total of 134 banks in 39 countries who have together provided TBI with substantial lines of credit. These banks include JP Morgan, Deutsche Bank and Standard Chartered. Agreements have been arranged with 17 of the largest Export Credit Agencies in the world. It has been audited by leading western firms from foundation, Ernst & Young for the first five years and then PricewaterhouseCoopers, who gave an unqualified report for 2010.
Mr. Al Uzri has 20 years of banking, commercial and project management experience in the Middle East, Europe and the former Soviet Union (FSU). He began his financial career in Amman, Jordan where he gained experience in credit analysis, feasibility studies, cash flow projections, investment analysis and IT. Mr. Al Uzri took charge of two restructuring projects for a bank where he turned around failing businesses and brought them back into profit within one year. Between 1992 and 2000, Mr. Al Uzri was resident in Moscow where he was manager of INPASS, a joint venture between Finland’s OKO Bank and UK financial technology firm CTL. In this capacity Mr. Al Uzri was responsible for the introduction of a number of financial services in the FSU including the first VISA cards (1992), the first Electronic Point of Sale machines (1992), and the first automatic teller machines (1993). From 2000-2003 Mr. Al Uzri was general manager for the Former Soviet Union and the Middle East based at CTL’s London headquarters.
Al Uzri is a 1985 graduate of Texas Tech University
, where he received a degree in electrical and computer engineering.
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
and President of the Trade Bank of Iraq
Trade Bank of Iraq
Trade Bank of Iraq is a publicly owned bank headquartered in Baghdad, Iraq.- History :The Trade Bank of Iraq was established in 2003 by the U.S...
, until he fled from Iraq in June 2011 to avoid being taken into custody during an Iraqi government investigation into alleged violations. He is the Grandson of Abdul Amir Al Uzri, an Iraqi politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
in 1950 when Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
was a kingdom, who served as a minister
Minister (government)
A minister is a politician who holds significant public office in a national or regional government. Senior ministers are members of the cabinet....
several times and as an ambassador
Ambassador
An ambassador is the highest ranking diplomat who represents a nation and is usually accredited to a foreign sovereign or government, or to an international organization....
to Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
. His great uncle is Ahmed Chalabi
Ahmed Chalabi
Ahmed Abdel Hadi Chalabi is an Iraqi politician. He was interim oil minister in Iraq in April-May 2005 and December-January 2006 and deputy prime minister from May 2005 until May 2006. Chalabi failed to win a seat in parliament in the December 2005 elections, and when the new Iraqi cabinet was...
, the well known Iraqi politician. In June 2011, Reuters reported that the Iraqi government issued an arrest warrant for Al Uzri, stemming from an investigation at the Trade Bank. As yet no details of the allegations, or supporting evidence have been presented.
Many inside and outside Iraq believe that this action is politically motivated. A British adviser to the bank's board, Sir Claude Hankes, condemned the move by Prime Minister Nuri al-Maliki's government as "political skulduggery". He said the bank had resisted efforts by members of the government to try to make it undertake "improper banking transactions".
During Hussein Al-Uzri’s stewardship, the bank, which was originally established as an arm of the government, grew from nothing to be the largest bank in Iraq. It now has international banking relationships with a total of 134 banks in 39 countries who have together provided TBI with substantial lines of credit. These banks include JP Morgan, Deutsche Bank and Standard Chartered. Agreements have been arranged with 17 of the largest Export Credit Agencies in the world. It has been audited by leading western firms from foundation, Ernst & Young for the first five years and then PricewaterhouseCoopers, who gave an unqualified report for 2010.
Mr. Al Uzri has 20 years of banking, commercial and project management experience in the Middle East, Europe and the former Soviet Union (FSU). He began his financial career in Amman, Jordan where he gained experience in credit analysis, feasibility studies, cash flow projections, investment analysis and IT. Mr. Al Uzri took charge of two restructuring projects for a bank where he turned around failing businesses and brought them back into profit within one year. Between 1992 and 2000, Mr. Al Uzri was resident in Moscow where he was manager of INPASS, a joint venture between Finland’s OKO Bank and UK financial technology firm CTL. In this capacity Mr. Al Uzri was responsible for the introduction of a number of financial services in the FSU including the first VISA cards (1992), the first Electronic Point of Sale machines (1992), and the first automatic teller machines (1993). From 2000-2003 Mr. Al Uzri was general manager for the Former Soviet Union and the Middle East based at CTL’s London headquarters.
Al Uzri is a 1985 graduate of Texas Tech University
Texas Tech University
Texas Tech University, often referred to as Texas Tech or TTU, is a public research university in Lubbock, Texas, United States. Established on February 10, 1923, and originally known as Texas Technological College, it is the leading institution of the Texas Tech University System and has the...
, where he received a degree in electrical and computer engineering.