Iraq
Answer ... Fintechs that provide electronic payment services, online lending and e-commerce services have a high potential of growth and success in Iraq, given the demographics of the Iraqi market (around 60% of the population are under 25).
Before operating in Iraq, fintechs must seek legal advice on any specific registration or authorisation requirements, depending mainly on whether the fintech undertakes a regulated activity such as electronic payment services that requires a licence from the Central Bank of Iraq.
Given the possible need to hire foreign talent, fintechs must carefully consider the specific regulations that apply to foreign workers in Iraq.