7•September 6, 2022

Business LANDSCAPE Magazine Issue 7

#Iraq Market Research#Market Research Iraq#Iraq#Iraq Private Sector#Banking Sector Iraq#Banking System Iraq#Financial Infrastructure Iraq

September 6, 202212 Articles

Issue Overview

The 7th issue of Business LANDSCAPE Magazine highlights key developments within Iraq’s private sector during a period of accelerating economic and market change. This edition explores how businesses and entrepreneurs are navigating uncertainty, adapting to shifting conditions, and pursuing practical solutions to strengthen resilience and market confidence. The issue covers a range of business and investment-related topics, including organizational performance, innovation in business models, and companies’ responses to evolving consumer needs. It also examines technology as an enabling tool while addressing ongoing challenges related to regulation, access to finance, and workforce development. Featuring in-depth analysis and interviews with private-sector leaders, alongside real-world business stories from the Iraqi market, this issue offers a grounded perspective on the role of the private sector in supporting economic growth and building a more diversified and sustainable economy.

Articles in this Issue

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The Neglected Building Blocks of Iraq’s Economy

Introduces the issue’s focus on Iraq’s financial and entrepreneurial challenges. Stresses the importance of stronger regulations, access to finance, and investor trust to empower the private sector.

ArticleSafwa Salim – Executive Editor, Business LANDSCAPE7 min

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The Elephant in the Room: Absence of International Services

Examines why global players like Amazon and PayPal avoid Iraq. Cites barriers such as weak financial infrastructure, regulatory uncertainty, reliance on cash, and lack of logistics. Missed opportunities include e-commerce growth and foreign investment.

ArticleKAPITA’s Research Team17 min

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Access to Finance in Iraq: An Analytical Study

Breaks down barriers to SME financing: high collateral, weak banking sector, limited microfinance. Notes low loan-to-GDP ratio (12%). Recommends venture capital, credit guarantees, and digital finance.

ArticleAbdal Ghany Al-Hassani 9 min

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Measure it to Manage it: The Role of Proper Accounting in the Success of SMEs in Iraq

Advocates for data-driven policy and corporate governance in Iraq. Argues that measurement is the basis for reform in sectors like banking, investment, and entrepreneurship.

ArticleDr. Yass Alkafaji8 min

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The Iraqi Private Sector We Need: Call to Action

Calls for bold reforms to activate Iraq’s private sector, including reducing reliance on oil, fostering startups, improving laws, and strengthening financial institutions.

ArticleAli Al Suhail, CFA6 min

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Venture Capital Ecosystem in Iraq

Reviews the gaps in Iraq’s VC ecosystem: legal obstacles, lack of exit options, and investor reluctance. Suggests incentives, legal reforms, and regional partnerships.

ArticleKAPITA’s Research Team15 min

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Relieved from Economic Sanctions: Iraq’s New Global Status

Traces Iraq’s reintegration into the global financial system after sanctions. Notes opportunities in investment and banking, while highlighting persistent governance and corruption risks.

ArticleAbdulaziz Al Attar10 min

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ISX Performance in 4M22

Analyzes the Iraqi Stock Exchange performance in the first four months of 2022. Banking dominated with 64% of market cap. Notes volatility, liquidity issues, and concentration risks.

ArticleKAPITA’s Research Team8 min

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An Overview of the Iraqi Banking Sector and Financial Infrastructure

Reviews Iraq’s 74 banks, their dominance by state-owned banks, and weak financial penetration (23% banked adults). Highlights growth of e-payments (ZainCash, QiCard, FastPay) but persistent cash dominance, weak trust, and poor ATM/POS infrastructure.

ArticleKAPITA’s Research Team17 min

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Iraqi Entrepreneurs Journey V.2 New Trends and Insights

Updated 2022 survey of Iraq’s startups. Key findings: 24.5% women founders, rise of e-commerce and agriculture startups, dominance of self-teaching, reliance on networks for hiring, and challenges in funding, scaling, and registration. Recommendations include supporting women, reforming education, and boosting B2B and B2G markets.

ArticleKAPITA’s Research Team19 min

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Business LANDSCAPE Interview: Shwan Ibrahim Taha

Taha shares his journey from studying in the US to leading investments across MENA and founding Rabee Securities in Iraq. He highlights Iraq’s underdeveloped capital markets, excessive bureaucracy, and lack of awareness about the stock exchange. Despite obstacles, he continues to invest in Iraqi startups like Miswag and Alsaree3, praising their resilience. He stresses the importance of supportive laws, capital markets for growth, and his philosophy of backing hardworking entrepreneurs.

ArticleShwan Ibrahim Taha22 min

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Business LANDSCAPE Interview: Hussain Qaragholi

Qaragholi recounts his role in restructuring Iraq’s $220B debt post-2003, wiping out 80% and reintroducing Iraq to global capital markets. He reviews changes in banking, credit, and capital markets, while noting persistent gaps in SME financing and SOE inefficiencies. He sees FinTech as a major opportunity in Iraq, with potential in digital payments, microfinance, and e-commerce, but warns of regulatory and cultural barriers. He also emphasizes the need for more venture capital, startup support, and reforms to make Iraq truly investable.

ArticleHussain Qaragholi15 min

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