Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

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4. Results: Answers
Tips and traps
What are your top tips for fintech players seeking to enter your jurisdiction and what potential sticking points would you highlight?

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.

For more information about this answer please contact: Lama Abou Ali from Aljad Law