An Analytical Study of the Financial Inclusion Indicators in the Iraqi Banking Sector Between 2011-2021

Abstract

Financial inclusion has been recently gaining the attention of researches due to its important role in achieving sustainable development, reducing poverty and unemployment rates, and enhancing the efficiency and effectiveness of the financial performance in banking sector. The aim of this study is to analyze the indicators of financial inclusion for the banking sector in Iraq during the period from 2011 till 2021 using the descriptive approach. Results showed that financial inclusion indicators (FII) (access, use and quality of services) in Iraq are still below the international standards, but they have witnessed a relative improvement in recent years, which is attributed to the growing attention to raising the level of financial inclusion in Iraq and the efforts made by the Central Bank of Iraq. Central Bank of Iraq is recommended to adapt more developed initiations to elevate the level of financial inclusion and cooperate with the local authorities and international partners in order to formulate an integrated and implementable national strategy that could help in achieving this goal.