The MENA Fintech Association (MFTA), the leading non-profit fostering fintech innovation across the Middle East and Africa, has announced the launch of its Iraq chapter. Bahaa Abdul Hadi, an Iraqi-Canadian fintech pioneer and co-founder of International Smart Card (ISC), has been appointed chapter chair to lead initiatives aimed at accelerating fintech adoption, collaboration, and regulatory compliance in Iraq.
Iraq’s financial sector is undergoing rapid digital transformation, supported by regulatory reforms like the Digital Payment Regulation No. 2 of 2024, which promotes cashless transactions and financial inclusion. Digital transaction volumes surged from 2.6 trillion to 7.6 trillion Iraqi dinars in one year, reflecting growing trust in digital finance.
Under Hadi’s leadership, MFTA Iraq will focus on innovation, regulatory modernization, financial literacy, and fostering partnerships. With MFTA’s regional network of 22,000+ members and active chapters in multiple countries, the Iraq chapter aims to integrate Iraq into the broader MENA fintech ecosystem, supporting economic diversification and digital growth.
Nameer Khan, MFTA Chairman, noted that this expansion is key to embedding fintech into Iraq’s economic future, fostering cross-border trade and inclusive financial empowerment.
