The MENA Fintech Association (MFTA), the leading not-for-profit organization dedicated to fostering fintech innovation and collaboration across the Middle East and Africa, recently announced the launch of its Iraq Chapter.
Bahaa Abdul Hadi, a distinguished Iraqi-Canadian entrepreneur and fintech pioneer, has been appointed as the Chapter Chair, bringing his extensive expertise and vision to drive digital financial transformation in Iraq and foster international compliance in Iraq.
Bahaa will lead the association’s initiatives in Iraq, focusing on accelerating fintech adoption, fostering collaboration, and supporting the country’s evolving financial risk and compliance infrastructure.
Iraq’s financial sector is witnessing a wave of transformation, driven by digital banking initiatives, mobile payments, and fintech innovation, and fueled by economic reforms, increasing financial inclusion, and rapid digital adoption.
The introduction of the Digital Payment Regulation No.2 of 2024, aiming to reduce cash dependency, increase transparency, and drive greater adoption of digital payment tools, marks a significant leap towards a cashless economy.
Backed by the Central Bank of Iraq (CBI), and United Nations Development Programme (UNDP), this regulation is designed to modernize Iraq’s financial infrastructure, enhance financial inclusion, and align with international best practices.
“By working closely with regulators, financial institutions, and technology innovators, we aim to drive the adoption of secure and efficient digital payment solutions that serve the needs of the Iraqi people and businesses,” stated Bahaa on her appointment.
