By John Lee.
The Central Bank of Iraq (CBI) has announced the launch of the "Al-Samawal" campaign starting on 1st September 2025, in cooperation with banks and electronic payment service providers, as part of the National Financial Inclusion Strategy (2025-2029).
The initiative aims to raise financial awareness, provide free bank account openings for traders and citizens, distribute and activate point-of-sale (POS) devices, and issue electronic payment cards.
More than 50 banks and 15 electronic payment companies are participating, alongside the CBI's Financial Inclusion Department and the "Wa'ayna" Organisation for Electronic Payment Awareness. The campaign seeks to reduce reliance on cash and stimulate digital transformation in Iraq's financial and commercial sectors.
According to the CBI statement, the campaign will target key commercial areas in Baghdad, including Al-Rasheed Street, Bab Al-Sharqi, Shorja Market, Al-Saray Market, and Al-Mutanabbi Street. Activities will run for a full month with wide participation from financial and non-financial institutions.
The CBI emphasised that this step is part of its commitment to building a more inclusive and digitised economy, while enhancing the stability of Iraq's financial system.
(Source: Central Bank of Iraq)
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