The Iraqi Private Banks League announced on Saturday a remarkable increase in financial inclusion in Iraq, which has risen by 48.5% in the current year. The association confirmed Iraq’s commitment to achieving a financial inclusion rate of 60% by next year.
Wadee Al Handal, Head of Iraqi Private Banks League, stated in a statement to the Iraqi News Agency (INA) that “the number of banking cards has reached 20 million in 2023, and we expect a significant increase in this sector in the current and coming years.”
He emphasized that “financial inclusion in Iraq has increased by 48.5% this year.”
He further noted, “We aim to reach a 60% financial inclusion rate next year, affirming that this change is driven by the High Commission represented by the Prime Minister and his office.”
Al Handal stressed the importance of integrating financial inclusion into school curricula, starting from early grades up to universities, to ensure that students understand the details and practice of financial inclusion.
He highlighted the need for continuous training to develop the necessary infrastructure, noting that the number of bank accounts increased from 6 million in 2020 to 13 million in 2023.
