Latest news with #AliKarimAl-Fatlawi
Iraq Business
17-05-2025
- Business
- Iraq Business
Rafidain Bank launches Phase II of Entrepreneurship Initiative
By John Lee. Iraq's state-owned Al-Rafidain Bank has announced the launch of the second phase of its "Riyada" initiative [Iraqi Riyada Network for Access Development and Advancement, IRADA Network], following the success of the first phase, which it says funded over 8,000 productive projects with a total of more than 107 billion IQD [$82 million]. The program, aimed at promoting self-employment and stimulating the local economy, marks a shift from traditional financing to a strategic developmental tool. General Manager Dr. Ali Karim Al-Fatlawi emphasized that the bank now views financing as a national mission to support youth, enhance local markets, and build a productive economy beyond rent-based practices. Funds have been allocated for new projects submitted through Riyada, subject to technical and legal evaluations. Dr. Hussein Falamrz, advisor to the Prime Minister, highlighted that more than 10,000 projects are ready for funding. The bank says he praised its proactive approach and collaboration with Qi Card to simplify procedures. Al-Rafidain called for broader national involvement, particularly from the Central Bank of Iraq (CBI), to establish: Easy financing windows for startups, A national fund to guarantee entrepreneurial loans, Integration of the Riyada initiative into the upcoming financial inclusion strategy. The bank sees entrepreneurship as a pathway to economic revival, driven by empowering young people rather than merely employing them. (Source: Al-Rafidain Bank) Tags: Central Bank of Iraq (CBI), cg, Entrepreneurship, featured, financial inclusion, Iraqi Riyada Network for Access Development and Advancement (IRADA Network), Micro- Small- and Medium-sized Enterprises Development Agency (MSMEDA), micro-small-and medium-enterprises, MSMEs, Qi card, Youth
Iraqi News
12-05-2025
- Business
- Iraqi News
Al-Rafidain Bank launches Phase 2 of Riyada initiative: 10,000 new projects eyed for funding
Baghdad ( – Al-Rafidain Bank today (Monday, May 12, 2025) launched the second phase of its 'Riyada' initiative, aimed at funding entrepreneurial projects across Iraq. This follows a successful first phase that saw over 8,000 individual projects financed with more than 107 billion Iraqi dinars. Director General of Al-Rafidain Bank, Ali Karim Al-Fatlawi, stated the bank now views such funding as a 'strategic national development tool' to support youth, stimulate local markets, and build a productive economy. Prime Minister's Advisor, Hussein Fallamarz, noted that over 10,000 new projects are ready for financing in this second phase. Al-Fatlawi emphasized that sufficient funds are allocated, pending project assessments, and called on institutions like the Central Bank of Iraq to create accessible financing for startups and a national loan guarantee fund for entrepreneurs. He highlighted Al-Rafidain's transformation into a leading national platform for entrepreneurship. The initiative, praised for its collaboration with Qi Card in streamlining processes, marks a significant government-backed push to foster self-employment and boost Iraq's local economy through empowering its emerging business talent.
