
Qi, K2 Integrity partner to raise Iraq's financial compliance standards
Baghdad (IraqiNews.com) – Iraqi fintech Qi has partnered with US-based K2 Integrity to upgrade its compliance systems and align Iraq's financial sector with global standards.
The agreement includes the establishment of a compliance hub in Jordan and an innovation center in the UAE, supporting operations across the region.
The 36-month roadmap will see K2 Integrity revamp Qi's financial crime compliance framework, train staff, and implement international best practices.
Qi Chairman Bahaa Abdul Hadi said the move reflects a commitment to transparency and economic leadership in Iraq. 'This is about Iraq's future. We are investing to meet the highest global standards.'
Qi, Iraq's largest electronic payment platform, serves over 10 million users and plays a central role in the country's financial ecosystem.
K2 Integrity's involvement is seen as a vote of confidence in Iraq's ongoing economic reforms.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Iraqi News
5 hours ago
- Iraqi News
Iraq's oil exports surpass 101 million barrels in May
Baghdad ( – Iraq exported over 101 million barrels of oil in May 2025, compared to 100.9 million barrels of oil in April 2025, according to data released by Iraq's State Organization for Marketing of Oil (SOMO). The total exports of crude oil reached 101,630,925 barrels, Shafaq News reported. Iraq exported a total of 100,365,335 barrels of crude oil from fields in the central and southern parts of the country in May. Iraq's oil exports to Jordan reached 309,906 barrels, and the quantities exported from the Qayyarah field in Nineveh province reached 955,684 barrels. Revenues generated from May's oil exports surpassed $6 billion. Iraqi oil exports saw minor variations in the first quarter of 2025, as the country adhered to prior production limitations set by OPEC+, particularly given the increase in export quantities during the first two months of the year. Iraqi oil shipments fell sharply toward the end of 2024, particularly in December and November, due to Baghdad's commitment to voluntary reduction under the OPEC+ agreement. Experts predict that Iraq's oil shipments will gradually increase in the coming months, with the OPEC+ group of eight members declaring the voluntary resumption of limited volumes beginning in April 2025.


Shafaq News
11 hours ago
- Shafaq News
Ex-finance official: Erbil must lead talks with Baghdad on financial dispute
Shafaq News/ A high-level delegation from the Kurdistan Region must visit Baghdad to resolve the growing financial dispute, former Deputy Minister of Finance Fadhil Nabi stated on Tuesday. 'The resolution of financial issues between Erbil and Baghdad requires an official visit by the Region's Supreme Committee, including top policymakers and a technical team,' he stated. Nabi added that recent rulings by the Federal Supreme Court on financial arrangements between Iraq and the Region had been 'misunderstood in their implementation,' noting that the latest State Administration Coalition meeting in Baghdad failed to produce any concrete solution. 'These meetings often end by deferring back to the court's decisions,' he said. Tensions between Erbil and Baghdad have escalated sharply following the Iraqi Ministry of Finance's decision to halt salary disbursements for the Kurdistan Region's May 2025 payroll. The ministry cited the Kurdistan Regional Government (KRG)'s alleged failure to remit both oil and non-oil revenues to the federal treasury and exceeding its budget allocation. In response, the KRG accused Baghdad of breaching its obligations, labeling the move as ' politically motivated' and harmful to over 1.2 million public sector employees in the Region. The standoff comes despite a February ruling by the Federal Court obligating Baghdad to pay KRG public salaries directly. The court's decision followed months of delayed payments and mounting public frustration in the Kurdistan Region.


Shafaq News
14 hours ago
- Shafaq News
All Iraqi airports resume flights after Iran-Israel ceasefire
Shafaq News/ Iraq fully reopened its airspace and resumed flight operations at all airports, following a temporary closure triggered by regional tensions, the Civil Aviation Authority announced on Tuesday. In a statement, Benkin Rikani, head of the Civil Aviation Authority, confirmed that improved security conditions and Iraq's ability to maintain high standards of air safety and traffic control for overflying aircraft supported the reopening. He also noted that reopening the airspace strengthens Iraq's position as a strategic air corridor connecting East and West, reducing flight times and fuel costs for international airlines. The airspace closure began on Friday, June 13, amid escalating conflict between Iran and Israel. Since then, Basra International Airport had remained the only airport in Iraq handling flights, operating under daylight-hour restrictions. The shutdown left many Iraqi nationals stranded abroad, with airlines rerouting flights and Iraqi airports incurring economic losses during the nearly two-week suspension.