Foreign Investor Entry into the Iraqi EPSP Market
Iraq’s electronic payment sector has attracted interest from foreign payment companies, fintechs, and technology firms. Foreign investors must navigate licensing, localization, data residency, ownership rules, and compliance requirements to operate legally. The market offers significant growth opportunities but requires structured market entry planning to align with CBI regulations and Iraqi operating conditions.
Foreign Investor Considerations
- Licensing requirements and permitted activities
- Local incorporation vs. branch vs. joint venture structures
- Ownership approvals and capital requirements
- Local data hosting and IT infrastructure expectations
- Merchant network development
Regulatory Compliance Requirements
- Engage with the CBI for licensing procedures
- Demonstrate technical adequacy and cybersecurity capacity
- Establish AML/KYC capabilities suitable for Iraq
- Maintain local governance and oversight mechanisms
CBI compliance
- Transparency of ownership and control
- Financial soundness of parent company
- Source of funds verification
- Knowledge transfer and local capacity building
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.