Next month the US administration will choose a consortium of international banks to manage the newly formed Trade Bank of Iraq.
The bank was formed to allow Iraqi authorities and other interests to buy big ticket capital items from international suppliers and the winning consortium will be well leveraged to win further lucrative financing work in the country.
Some of the teams are said to include JP Morgan Chase with a team comprising the UK's Standard Chartered, the National Bank of Kuwait, Australia's ANZ Bank and Poland's Millenium Bank.
Citigroup is said to be making a solo bid and Deutsche Bank is rumoured to be taking up a US partner. Around six serious bids are expected to be lodged with encouragement being given to those with a Middle Eastern participant.
