TBI was licensed by the Central Bank of Iraq and commenced its operations one month after the decision to establish it as a government financial institution had been taken.

Since then, TBI has grown into a leading bank in Iraq through strengthening its financial position, assets, and equity.

[citation needed] In a short period, TBI built relationships with an international network of 134 correspondent banks covering 63 cities spread over 39 countries.

[citation needed] TBI's initial customer base consisted of ministries and government-run public sector corporations.

Financial products include saving accounts, current accounts, Priority Banking (Jumar), term deposits, certificate of deposits (tistahel), payroll accounts, Automated Clearing House (ACH), real-time gross settlement (RTGS), debit cards, credit cards, Automated Teller Machine (ATM), Point of Sale (POS), E-commerce, Cash Management, Foreign Exchange, trade services, Trade Finance, Personal loans, Car Loans, Term Finance, Working Capital Finance and Project Finance.