Qi and K2 Integrity to Elevate Iraq's Financial Standards
By John Lee.
Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm.
The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing of terrorism (CFT).
The partnership spans operations in the UAE, Jordan, and Iraq. A major compliance back office will be established in Jordan, fully integrated into Qi's ecosystem, while the UAE office will serve as an innovation hub.
ISC Chairman Bahaa Abdul Hadi described the initiative as part of a broader national mission:
"This is not just about one business group. This is about Iraq and its economic future ... we are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity."
The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks. Evaluate and transform Qi's current financial crime compliance (FCC) framework.
Train Qi's personnel across all levels-from frontline staff to executive leadership.
Take operational responsibility for implementing globally benchmarked compliance practices.
Transition the program into a sustainable, best-in-class model eventually managed by Qi.
According to a press release, this initiative marks a pivotal milestone in Iraq's compliance evolution, strengthening national capabilities and building a foundation for secure, scalable financial growth; it positions Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion.
(Source: Qi) Tags: anti money laundering (AML), cg, compliance, Counter Financing of Terrorism (CFT), electronic payments, featured, financial inclusion, financial integrity, fintech, International Smart Card (ISC), Iraq, Jordan, K2i, Qi, Qi card, United Arab Emirates (UAE), United States
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