By John Lee.
The Central Bank of Iraq (CBI) has launched the "Knights" [Al Fursan] programme, a locally-developed initiative aimed at fostering youth entrepreneurship and supporting the private sector's role in national economic development.
The launch event, held at the CBI's headquarters on 25 June 2025, was attended by Governor Ali Mohsen Al-Allaq, who emphasised the Bank's commitment to empowering young entrepreneurs and contributing to Iraq's GDP growth through innovative projects.
Al-Allaq noted that recent reforms in Iraq's banking sector now enable greater support for income-generating small and medium-sized enterprises (SMEs), which are vital to sustainable private sector development.
The "Knights" programme provides:
- Access to real investment opportunities for young entrepreneurs;
- Eligibility-based access to soft loans;
- A support framework to ensure the sustainability of promising ventures and prevent project failure.
During the event, a group of young participants showcased their projects, demonstrating an understanding of market demand and available resources. The programme is expected to attract more entrepreneurs in the future and generate new employment opportunities.
(Source: Central Bank of Iraq)
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