Iraq’s fintech transformation is taking bold steps toward digital growth with the launch of the MENA Fintech Association (MFTA) Iraq Chapter. This development marks a new chapter in the country’s financial evolution. As the digital economy takes shape, fintech stands at the core of Iraq’s strategy.
To lead this important initiative, MFTA appointed Iraqi-Canadian entrepreneur Bahaa Abdul Hadi as Chairperson. Known for co-founding International Smart Card (ISC), he also pioneered the Qi Card biometric payment system, which revolutionized digital payments in Iraq.
Speaking about this new role, Abdul Hadi shared his vision for Iraq’s fintech transformation. He believes that the future of the country lies in digital innovation. Moreover, fintech can bring financial tools to more people, opening up access and opportunity.
According to him, the Iraq Chapter will help build a strong ecosystem. This will involve banks, startups, government bodies, and investors. Together, they aim to promote financial empowerment, new technologies, and smart regulatory frameworks.
Furthermore, the MFTA Iraq Chapter plans to connect Iraq with broader regional trends. Countries across the MENA region are already investing in fintech. By learning from their experience, Iraq can fast-track its own progress in digital finance.
A key goal is to solve long-standing issues such as limited access to banking. While many citizens still rely on cash, fintech tools could help them move into the formal economy. Through modern services, Iraqis may soon gain faster, safer ways to save, spend, and invest.
Abdul Hadi brings valuable experience to this mission. His leadership on the Qi Card changed the way millions of Iraqis handle money. With this new role, he hopes to drive Iraq’s fintech transformation even further.
In addition to policy and product development, the new chapter aims to attract tech talent. It will also support digital entrepreneurs and create training opportunities for young innovators.
Clearly, Iraq’s fintech transformation has moved from concept to action. With the MFTA Iraq Chapter now in place, the country is better positioned to embrace digital finance and lead change in the region.