Digital Banking Transformation and Regulatory Readiness in Iraq
The Iraqi banking sector is undergoing a gradual shift toward digital banking models, driven by financial inclusion goals, payment modernization initiatives, and demand for mobile-first services. Regulatory frameworks are evolving, with the Central Bank of Iraq (CBI) encouraging innovation while maintaining prudential oversight.
Digital Banking Focus Areas
- Mobile and online banking channels
- E-KYC and digital onboarding tools
- API connectivity and open banking discussions
- Cybersecurity and data protection controls
- Payment processing and settlement systems
- Customer experience & financial inclusion objectives
Regulatory Considerations
- Licensing of digital banking entities (current status and requirements)
- Governance and IT risk supervision
- Data privacy expectations
- Cyber resilience standards
How Etihad Can Assist
Etihad provides legal and regulatory advisory services to banks, financial institutions, and businesses, supporting compliance with applicable laws, regulations, and regulatory guidance issued by any competent authorities.