Iraq financial inclusion strategy has officially launched, marking a major step toward broader access to financial services. The Central Bank of Iraq unveiled the National Strategy for Financial Inclusion for the years 2025 to 2029. This initiative focuses on enabling individuals and businesses to access safe, appropriate financial tools that protect their rights and drive national development.
Additionally, the Central Bank emphasized that this strategy forms a comprehensive plan. It aims to integrate citizens into the financial sector, improve service accessibility, and support economic growth. Governor Ali Mohsen Al-Alaq confirmed the bank’s commitment to financial inclusion, stressing the importance of cooperation with international and regional partners.
Therefore, the Iraq financial inclusion strategy was developed in coordination with several major institutions. These include the World Bank Group, the Arab Monetary Fund, the Global Financial Inclusion Alliance, and GIZ, the German development agency.
Additionally, local public and private organizations played a key role in shaping this initiative. This collaboration ensures that the strategy follows global best practices and addresses local needs.
Moreover, Governor Al-Alaq highlighted several key targets. The plan seeks to boost the number of people holding bank accounts, strengthen consumer protections, and encourage electronic payments. It also focuses on improving infrastructure and creating supportive regulations to advance financial inclusion.
The Iraq financial inclusion strategy also aims to modernize Iraq’s financial system. It will encourage innovation, promote trust in financial institutions, and help small businesses thrive. These efforts should reduce poverty, increase financial literacy, and open new opportunities across various regions of the country.
As Iraq works toward long-term development, this strategy clearly reflects its commitment to building a more inclusive and resilient digital economy. With strong local and international partnerships, the Central Bank is actively moving to close gaps in access and ensure that everyone benefits from broad-based financial growth.