By Ahmed Kadhum, Chief Investments Officer of Qi Group
Today, discussions at the world’s leading fintech conferences have moved beyond digital payments. At Money20/20 Europe 2026 in Amsterdam, conversations revolved around a clear shift in the sector’s priorities. The focus has shifted toward building interconnected digital ecosystems that integrate financial services, commerce, education, government services, and artificial intelligence within a unified framework. This convergence is transforming daily life, while fundamentally reshaping the broader financial landscape. For emerging economies, it offers substantial opportunities to create more agile and connected economic models.
This raises a fundamental question: Where does Iraq stand in this global transformation?
Iraq is increasingly well positioned for digital transformation, thanks to several key strengths. A young population is driving the demand for technology, while government institutions continue to make steady progress in advancing their digital transformation initiatives. These factors provide Iraq with a unique opportunity not only to keep pace with the changes happening across the globe, but also to leapfrog conventional stages of development that other economies have had to navigate and establish itself as a forward-looking model for digital innovation.
Payments: the beginning, not the end
Experiences from around the world demonstrate that even the most routine digital transaction can become the foundation of a direct and meaningful relationship between citizens and the services they depend on. It can save retirees valuable time, help small businesses expand efficiently, empower individuals to manage their finances confidently, and equip government institutions with clearer and more effective tools to deliver services. These everyday experiences reinforce a fundamental truth: digital transformation is driven by people’s needs rather than technology alone. In this context, digital payments should be considered not as an end in themselves, but as a catalyst for building a more connected and dynamic economy.
Since its establishment, Qi Group has regarded digitization of payments to a much broader objective rather than an end in itself. Our focus has always been to remove barriers that limit people’s access to essential services. Experiences have shown that enabling citizens to receive digital money is only the beginning of a much larger journey. As digital adoption grows, so do expectations for secure payment solutions, effective savings management, responsible financing, seamless participation in eCommerce, and easier access to government services. Each of these requirements creates an opportunity to develop an additional solution, allowing the digital infrastructure to evolve into an expanding ecosystem that continuously adapts to the evolving needs of individuals, businesses, and society.
From a payments company to a comprehensive digital ecosystem:
At Qi Group, we believe that a digital economy is not built through isolated solutions, but through interconnected systems. This conviction has guided our evolution from a company focused on cards and transactions into a comprehensive technology ecosystem encompassing financial services, artificial intelligence, digital commerce, education, media, logistics, and digital government solutions. Bringing these sectors together within a unified infrastructure has created a seamless digital experience that simplifies everyday life in Iraq and fosters greater connectivity.
Infrastructure first:
Today, the Group serves nearly 22 million accounts and has issued more than 25 million Qi Cards, supporting over 160,000 merchants across Iraq. Beyond their scale, these figures underscore an infrastructure that allows millions of Iraqis to receive their salaries digitally, operate their businesses, participate in e-Commerce and seamlessly access government services.
As this ecosystem continues to expand, artificial intelligence (AI) has become a key part of our operations, especially in fraud prevention and compliance, enhancing customer experience and facilitating decision-making.
Technology alone is not enough to determine the success of a digital ecosystem. It depends on an environment where trust is embedded through effective governance, robust cybersecurity, strong data protection and clear regulatory compliance. As digital infrastructure advances and its usage increases, the need to protect individual rights and ensure the security of businesses operating within it becomes significant.
This is a key pillar of sustainable digital transformation. It offers both citizens and institutions the confidence to use services while enabling innovative technologies to drive economic development.
Iraq’s growing digital infrastructure is increasingly positioning the country as a promising destination for technology leaders, investors and international partners seeking transparency, reliability and efficiency.
A New Narrative for Digital Iraq:
International examples show that economies burdened by complex conventional systems often face significant challenges when attempting to modernise. However, in Iraq, this creates broader opportunities. The absence of certain conventional structures has created an opportunity to adopt cutting-edge digital models from the outset.
This supports merchants through mobile payments, QR code payments and e-Commerce, while it enables citizens to access government services through a unified digital ecosystem that reduces the need to repeatedly provide information or deal with different entities. With a digital ecosystem that integrates payments, logistics and e-Commerce within a single framework, entrepreneurs can easily expand into international markets.
This digital transformation is founded on redesigning processes from the ground up, driven by a vision that prioritises people. It enables seamless integration of services into everyday life, while technology evolves into the infrastructure that boosts access to opportunities and widens their reach.
Iraqi Ambition Is Shaping a New Reality:
International discussions on Iraq have often focused on past challenges. Amid those struggles, there is an inspiring story that deserves the world’s attention, which is the story of a vibrant generation of developers and entrepreneurs, rapidly expanding companies and institutions that are continuously embracing technology with great agility.
This stands as a testament to Iraq’s ability to develop digital solutions tailored to its evolving needs and responsive to the realities of its society, creating opportunities in local and regional markets. It further underscores the potential of digital transformation as a powerful economic and social force that can open new horizons for future generations and redefine the country’s growth prospects.
As digital transformation progresses, technology’s success will be marked by its ability to create tangible improvements in people’s lives, support the growth of small and medium-sized enterprises (SMEs), enhance the efficiency of public institutions and unlock opportunities for future generations. Digital payments marked the beginning of Qi’s story, but they haved evolved into a gateway to a wider ecosystem, one where technology removes barriers, services become seamless, businesses find new opportunities for growth, and citizens can easily manage their daily lives.
As this digital ecosystem continues to grow, a clear vision is taking shape: building a connected digital economy that harnesses the opportunities of global transformation and lays the foundations for a stronger, more connected future for Iraq.
