Iraq digital bank growth gains momentum as EQIQ invests $3 million in an ambitious new financial project. The investment supports the launch of the country’s first AI-powered digital bank. This funding forms part of a broader $15 million round to create a fully digital banking platform in Iraq.
The project is led by Hussain Qaragholi, an Iraqi-American finance expert with decades of experience. He previously held senior roles at Citigroup, Deutsche Bank, and Merrill Lynch. Qaragholi has a proven track record in fintech, sovereign finance, and emerging market strategies. He also played a key role in several financial restructurings in Iraq.
The new bank will operate through a mobile-first model. Using artificial intelligence, it will offer accessible financial services to all Iraqis. This approach aims to modernize Iraq’s underdeveloped banking system and increase financial inclusion.
Despite being the fourth-largest economy in the MENA region, Iraq still lacks advanced digital banking services. As well as Millions of people in the country remain without access to modern financial tools. Iraq digital bank growth will help close this gap and transform the country’s financial landscape.
EQIQ, a venture capital firm based in Abu Dhabi, recognizes this opportunity. The firm has invested heavily in Iraq’s digital future, focusing on key sectors like fintech, e-commerce, and logistics. EQIQ’s funding for the AI bank marks a strategic move to boost Iraq’s digital infrastructure.
More than half of EQIQ’s first $15 million fund has already gone into fast-growing tech startups since 2023. As well as This latest investment aligns with their larger vision to build a digital economy in Iraq. Iraq digital bank growth, powered by AI, plays a central role in this mission.
The new bank’s services will include mobile account management, AI-powered financial guidance, and real-time support. These tools aim to empower users and attract a younger, tech-savvy population.
With strong backing and experienced leadership, the project signals a turning point for Iraq’s finance sector. So It also sets a new standard for regional digital banking. Iraq digital bank growth represents both innovation and financial progress.