By John Lee. The Central Bank of Iraq (CBI) has launched the second edition of its Security Permits Platform, aimed at enhancing the management and organisation of security clearances for authorised bank personnel and their vehicles during cash withdrawal and deposit operations. The CBI's Security Permits Office held an interactive workshop outlining the platform's features, account […]
By John Lee. EQIQ, a UAE-based venture capital fund, has unveiled its $1.5 million pre-seed investment in Boxy, which it says is Iraq's first AI-powered logistics aggregator. Boxy aims to unify over 1,500 last-mile couriers into a single intelligent platform, addressing the fragmented logistics landscape in Iraq. EQIQ says Boxy has demonstrated early product-market fit, […]
By John Lee. The MENA Fintech Association (MFTA) has launched its Iraq Chapter, according to a report from Arqam. It says it has appointed Iraqi-Canadian entrepreneur Bahaa Abdul Hadi, co-founder of International Smart Card (ISC) and architect of Iraq's Qi Card biometric payment solution, as the Chairperson. "The future of Iraq is digital, and fintech […]
By John Lee. UAE-based venture capital fund EQIQ has announced a $3-million anchor investment in a new digital banking startup led by Iraqi-American finance veteran Hussain Qaragholi (pictured). The total $15-million funding round will support the launch and early growth of the next-generation, AI-driven platform. The new venture aims to transform Iraq's underdeveloped banking sector […]
By John Lee. Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm. The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing […]
By Samer Khraishi, Regional Director for Account Management and Business Development, GCC, Iraq and Jordan at BPC. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Modernising Iraq's Financial Infrastructure: The Rise of Digital Payments Iraq's financial infrastructure has long been in need of significant […]
By John Lee. A Memorandum of Understanding (MoU) has been signed between the Turkiye Wealth Fund and the Iraq Development Fund, marking what TWI describes as a significant step toward deepening economic cooperation between the two countries at the sovereign wealth fund level. The agreement aims to foster innovation-driven investments across priority sectors including energy, […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani addressed the Conference on Reforming the Iraqi Banking Sector on Monday, outlining an ambitious agenda to modernise Iraq's financial infrastructure and promote sustainable economic development. Key initiatives and achievements highlighted in the Prime Minister's address include: Implementation of a three-year national budget, enabling long-term planning and strategic […]
By John Lee. Qi won the LEAP Genesys Award after partnering with Customer Experience Ltd, the implementation partner of US-based Genesys Cloud CX. The agreement integrates AI-powered Genesys Cloud CX into Qi's customer care system, enhancing customer service and employee engagement. The signing ceremony took place in Dubai Media City, with Qi CEO Ali Muneam […]
By John Lee. In his speech to a conference in Baghdad, Ali Mohsen Al-Allaq, Governor of the Central Bank of Iraq (CBI), highlighted significant progress in digital payments, citing an increase in ATMs and e-wallets, which helped boost financial inclusion to 40% from 20% in just two years, supported by CBI initiatives. He noted that […]
By John Lee. Iraq Venture Partners (IVP) has identified four main areas as untapped investment opportunities in the Iraqi market: Fintech: Limited access to formal banking creates demand for mobile payment solutions and digital financial products. There is room for growth in areas like peer-to-peer lending, microfinance, and digital banking solutions that enhance financial inclusion, […]
By John Lee. Makers of Baghdad, an innovation hub and maker space, has produced a report exploring the impact of financial technology on economic growth, inclusion, and innovation in Iraq. Mapping the Role of FinTech in Iraq finds that the financial landscape in Iraq is undergoing a significant transformation, largely driven by the rise of […]
