Promoting Financial Inclusion for Growth and Development in Iraq

A well-functioning financial sector is critical for efficient resource allocation leading to increased productivity, greater investment, and higher overall levels of economic growth. This is particularly critical in Iraq, where years of political i...

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Bibliographic Details
Main Authors: Aziz, Teymour Abdel, McConaghy, Peter
Format: Brief
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
MFI
SME
TAX
Online Access:http://documents.worldbank.org/curated/en/2014/02/19434768/promoting-financial-inclusion-growth-development-iraq
http://hdl.handle.net/10986/18154
id okr-10986-18154
recordtype oai_dc
spelling okr-10986-181542021-04-23T14:03:42Z Promoting Financial Inclusion for Growth and Development in Iraq Aziz, Teymour Abdel McConaghy, Peter ACCESS TO CREDIT ACCESS TO FINANCIAL SERVICES BANK ASSETS BANK DEBT BANKING LAW BANKING SECTOR BANKING SECTOR ASSETS BRANCHES BUSINESS LOANS CAPITAL REQUIREMENTS CENTRAL BANK CLIENT BASE CODE OF CONDUCT COLLATERAL COMMERCIAL BANKS CONSUMER PROTECTION CONVENTIONAL BANKS CREDIT BUREAU CREDIT INFORMATION CREDITWORTHINESS DEBT DEPOSIT DEPOSITS DISBURSEMENT ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EMPLOYEE ENABLING ENVIRONMENT ENTREPRENEURS EXPANSION FINANCE COMPANIES FINANCE COMPANY FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL LEASING FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR POLICIES FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SYSTEM FIRMS FOREIGN PARTNERS FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL INSTITUTIONS FORMAL FINANCIAL SERVICES FREE LOANS FUNDING SOURCES GOVERNMENT INTERVENTION GROWTH RATES HOUSEHOLD WELFARE HOUSEHOLDS HOUSING HOUSING LOANS INCOME INCOME GROUP INCOME-GENERATING PROJECTS INFORMATION SHARING INSURANCE INSURANCE COMPANIES INSURANCE SERVICES INTEREST RATES INVESTMENT CLIMATE LABOR FORCE PARTICIPATION LARGE ENTERPRISES LAWS LEGAL FRAMEWORK LEVEL PLAYING FIELD LOAN LOAN PORTFOLIO LOAN PROCESSING LOAN PROCESSING TIME LOAN PROVISIONING LOAN RECOVERY LOAN SIZE LOCAL INVESTORS MACROECONOMIC STABILITY MARKET DISTORTION MFI MFIS MICRO-ENTERPRISES MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE PROGRAMS MICROFINANCE SECTOR MONETARY FUND MONEY TRANSFERS MOVABLE COLLATERAL NON-PERFORMING LOANS OUTREACH OVERDRAFT PAYMENT SERVICES PORTFOLIO QUALITY PRIVACY PRIVATE BANKS PRIVATE SECTOR DEVELOPMENT PRODUCTIVITY PRUDENTIAL REGULATIONS REGULATORY BARRIERS REGULATORY FRAMEWORK REPAYMENT REPAYMENT PERIOD RESOURCE ALLOCATION SAVINGS SAVINGS ACCOUNTS SMALL BUSINESSES SME SME FINANCE STOCK MARKET SUPERVISORY FRAMEWORK TAX TAX EXEMPTIONS TRADE FINANCE TRANSACTION TRANSACTION COSTS UNEMPLOYMENT UNFAIR COMPETITION A well-functioning financial sector is critical for efficient resource allocation leading to increased productivity, greater investment, and higher overall levels of economic growth. This is particularly critical in Iraq, where years of political instability and violence have impeded the development of a robust private sector, decimated infrastructure and institutions, and caused serious employment challenges. The proportion of individuals with access to formal financial services including credit, savings, and insurance services is critical for improving household welfare by spurring economic activity and helping manage economic shocks. Financial inclusion positively impacts on macroeconomic stability. The extent of financial intermediation causally impacts growth, mostly through lower transaction costs and better distribution of capital and risk across the economy. Microfinance has in recent years become an important mechanism to promote financial inclusion and economic development in Iraq. Microfinance institutions (MFIs) have emerged as credible sources of financing for low income households and microenterprises, both underserved by conventional banks. 2014-05-05T16:42:12Z 2014-05-05T16:42:12Z 2014-02 http://documents.worldbank.org/curated/en/2014/02/19434768/promoting-financial-inclusion-growth-development-iraq http://hdl.handle.net/10986/18154 English en_US MENA knowledge and learning quick notes series;no. 116 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Brief Publications & Research Middle East and North Africa Iraq
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACCESS TO CREDIT
ACCESS TO FINANCIAL SERVICES
BANK ASSETS
BANK DEBT
BANKING LAW
BANKING SECTOR
BANKING SECTOR ASSETS
BRANCHES
BUSINESS LOANS
CAPITAL REQUIREMENTS
CENTRAL BANK
CLIENT BASE
CODE OF CONDUCT
COLLATERAL
COMMERCIAL BANKS
CONSUMER PROTECTION
CONVENTIONAL BANKS
CREDIT BUREAU
CREDIT INFORMATION
CREDITWORTHINESS
DEBT
DEPOSIT
DEPOSITS
DISBURSEMENT
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
EMPLOYEE
ENABLING ENVIRONMENT
ENTREPRENEURS
EXPANSION
FINANCE COMPANIES
FINANCE COMPANY
FINANCIAL DEVELOPMENT
FINANCIAL INSTITUTIONS
FINANCIAL INTERMEDIATION
FINANCIAL LEASING
FINANCIAL SECTOR
FINANCIAL SECTOR DEVELOPMENT
FINANCIAL SECTOR POLICIES
FINANCIAL SERVICE
FINANCIAL SERVICE PROVIDERS
FINANCIAL SYSTEM
FIRMS
FOREIGN PARTNERS
FORMAL FINANCIAL INSTITUTION
FORMAL FINANCIAL INSTITUTIONS
FORMAL FINANCIAL SERVICES
FREE LOANS
FUNDING SOURCES
GOVERNMENT INTERVENTION
GROWTH RATES
HOUSEHOLD WELFARE
HOUSEHOLDS
HOUSING
HOUSING LOANS
INCOME
INCOME GROUP
INCOME-GENERATING PROJECTS
INFORMATION SHARING
INSURANCE
INSURANCE COMPANIES
INSURANCE SERVICES
INTEREST RATES
INVESTMENT CLIMATE
LABOR FORCE PARTICIPATION
LARGE ENTERPRISES
LAWS
LEGAL FRAMEWORK
LEVEL PLAYING FIELD
LOAN
LOAN PORTFOLIO
LOAN PROCESSING
LOAN PROCESSING TIME
LOAN PROVISIONING
LOAN RECOVERY
LOAN SIZE
LOCAL INVESTORS
MACROECONOMIC STABILITY
MARKET DISTORTION
MFI
MFIS
MICRO-ENTERPRISES
MICROCREDIT
MICROENTERPRISES
MICROFINANCE
MICROFINANCE INSTITUTIONS
MICROFINANCE PROGRAMS
MICROFINANCE SECTOR
MONETARY FUND
MONEY TRANSFERS
MOVABLE COLLATERAL
NON-PERFORMING LOANS
OUTREACH
OVERDRAFT
PAYMENT SERVICES
PORTFOLIO QUALITY
PRIVACY
PRIVATE BANKS
PRIVATE SECTOR DEVELOPMENT
PRODUCTIVITY
PRUDENTIAL REGULATIONS
REGULATORY BARRIERS
REGULATORY FRAMEWORK
REPAYMENT
REPAYMENT PERIOD
RESOURCE ALLOCATION
SAVINGS
SAVINGS ACCOUNTS
SMALL BUSINESSES
SME
SME FINANCE
STOCK MARKET
SUPERVISORY FRAMEWORK
TAX
TAX EXEMPTIONS
TRADE FINANCE
TRANSACTION
TRANSACTION COSTS
UNEMPLOYMENT
UNFAIR COMPETITION
spellingShingle ACCESS TO CREDIT
ACCESS TO FINANCIAL SERVICES
BANK ASSETS
BANK DEBT
BANKING LAW
BANKING SECTOR
BANKING SECTOR ASSETS
BRANCHES
BUSINESS LOANS
CAPITAL REQUIREMENTS
CENTRAL BANK
CLIENT BASE
CODE OF CONDUCT
COLLATERAL
COMMERCIAL BANKS
CONSUMER PROTECTION
CONVENTIONAL BANKS
CREDIT BUREAU
CREDIT INFORMATION
CREDITWORTHINESS
DEBT
DEPOSIT
DEPOSITS
DISBURSEMENT
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
EMPLOYEE
ENABLING ENVIRONMENT
ENTREPRENEURS
EXPANSION
FINANCE COMPANIES
FINANCE COMPANY
FINANCIAL DEVELOPMENT
FINANCIAL INSTITUTIONS
FINANCIAL INTERMEDIATION
FINANCIAL LEASING
FINANCIAL SECTOR
FINANCIAL SECTOR DEVELOPMENT
FINANCIAL SECTOR POLICIES
FINANCIAL SERVICE
FINANCIAL SERVICE PROVIDERS
FINANCIAL SYSTEM
FIRMS
FOREIGN PARTNERS
FORMAL FINANCIAL INSTITUTION
FORMAL FINANCIAL INSTITUTIONS
FORMAL FINANCIAL SERVICES
FREE LOANS
FUNDING SOURCES
GOVERNMENT INTERVENTION
GROWTH RATES
HOUSEHOLD WELFARE
HOUSEHOLDS
HOUSING
HOUSING LOANS
INCOME
INCOME GROUP
INCOME-GENERATING PROJECTS
INFORMATION SHARING
INSURANCE
INSURANCE COMPANIES
INSURANCE SERVICES
INTEREST RATES
INVESTMENT CLIMATE
LABOR FORCE PARTICIPATION
LARGE ENTERPRISES
LAWS
LEGAL FRAMEWORK
LEVEL PLAYING FIELD
LOAN
LOAN PORTFOLIO
LOAN PROCESSING
LOAN PROCESSING TIME
LOAN PROVISIONING
LOAN RECOVERY
LOAN SIZE
LOCAL INVESTORS
MACROECONOMIC STABILITY
MARKET DISTORTION
MFI
MFIS
MICRO-ENTERPRISES
MICROCREDIT
MICROENTERPRISES
MICROFINANCE
MICROFINANCE INSTITUTIONS
MICROFINANCE PROGRAMS
MICROFINANCE SECTOR
MONETARY FUND
MONEY TRANSFERS
MOVABLE COLLATERAL
NON-PERFORMING LOANS
OUTREACH
OVERDRAFT
PAYMENT SERVICES
PORTFOLIO QUALITY
PRIVACY
PRIVATE BANKS
PRIVATE SECTOR DEVELOPMENT
PRODUCTIVITY
PRUDENTIAL REGULATIONS
REGULATORY BARRIERS
REGULATORY FRAMEWORK
REPAYMENT
REPAYMENT PERIOD
RESOURCE ALLOCATION
SAVINGS
SAVINGS ACCOUNTS
SMALL BUSINESSES
SME
SME FINANCE
STOCK MARKET
SUPERVISORY FRAMEWORK
TAX
TAX EXEMPTIONS
TRADE FINANCE
TRANSACTION
TRANSACTION COSTS
UNEMPLOYMENT
UNFAIR COMPETITION
Aziz, Teymour Abdel
McConaghy, Peter
Promoting Financial Inclusion for Growth and Development in Iraq
geographic_facet Middle East and North Africa
Iraq
relation MENA knowledge and learning quick notes series;no. 116
description A well-functioning financial sector is critical for efficient resource allocation leading to increased productivity, greater investment, and higher overall levels of economic growth. This is particularly critical in Iraq, where years of political instability and violence have impeded the development of a robust private sector, decimated infrastructure and institutions, and caused serious employment challenges. The proportion of individuals with access to formal financial services including credit, savings, and insurance services is critical for improving household welfare by spurring economic activity and helping manage economic shocks. Financial inclusion positively impacts on macroeconomic stability. The extent of financial intermediation causally impacts growth, mostly through lower transaction costs and better distribution of capital and risk across the economy. Microfinance has in recent years become an important mechanism to promote financial inclusion and economic development in Iraq. Microfinance institutions (MFIs) have emerged as credible sources of financing for low income households and microenterprises, both underserved by conventional banks.
format Publications & Research :: Brief
author Aziz, Teymour Abdel
McConaghy, Peter
author_facet Aziz, Teymour Abdel
McConaghy, Peter
author_sort Aziz, Teymour Abdel
title Promoting Financial Inclusion for Growth and Development in Iraq
title_short Promoting Financial Inclusion for Growth and Development in Iraq
title_full Promoting Financial Inclusion for Growth and Development in Iraq
title_fullStr Promoting Financial Inclusion for Growth and Development in Iraq
title_full_unstemmed Promoting Financial Inclusion for Growth and Development in Iraq
title_sort promoting financial inclusion for growth and development in iraq
publisher World Bank, Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2014/02/19434768/promoting-financial-inclusion-growth-development-iraq
http://hdl.handle.net/10986/18154
_version_ 1764439413661630464