Скачать или смотреть The National Bank of Iraq (NBI) Brings Digital Skills and Finance to Young Iraqi Entrepreneurs

The National Bank of Iraq (NBI), with support from IFC, has made it its mission to provide financial services as well as enhance the digital and educational resources available to entrepreneurs. “We recognize that a cash-based economy is not enough for growth. We’re working to transition Iraq towards a credit-based system,” explains NBI CEO Ayman Abu Dhaim. “We’re investing in a new core banking system that ranks among the best globally,” Dhaim says. “This will streamline daily transactions and help our SMEs to manage their finances more efficiently.”

Iraq has one of the youngest populations in the world, with almost 70 percent of the population under 25 years old. About 700,000 young Iraqis enter the job market each year, and youth unemployment is estimated at 36 percent. With better access to credit, SMEs can create the employment opportunities needed to absorb a young and growing population. To address existing barriers faced by women in particular, NBI launched workshops to educate aspiring women entrepreneurs and pushed for initiatives targeting women-led projects.

Small and medium-sized enterprises (SMEs) are the main drivers of economic growth and job creation in Iraq. Nevertheless, these vital businesses face an estimated financing gap of $38 billion and receive only about 9 percent of the country’s private sector investment.

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