Latest news with #InternationalSmartCard
Mid East Info
4 days ago
- Business
- Mid East Info
Iraqi Fintech ‘Qi Card', ‘Turkish Airlines' Launch Mastercard Debit Card - Middle East Business News and Information
Highlights: The debit card to reward 11 million Qi cardholders in Iraq 20 million Turkish Airlines reward members to get access to Qi Card's digital payment network Convenient payment experience across Iraq and at millions of merchants and ATMs worldwide Following Turkish Airlines partnership, Qi Card anticipates interest from airlines in the Middle East (DUBAI / BAGHDAD)- Qi Card, Iraq's leading digital payments provider, and Turkish Airlines, one of the world's largest airlines, has signed a landmark partnership in Istanbul to launch a new co-branded Mastercard debit card for Iraqis. The partnership will benefit 11 million Qi cardholders in Iraq by integrating their everyday spend to Turkish Airlines' Miles&Smiles rewards programme. The new agreement will enrich their travel experience. With 31 bank partnerships in more than 50 countries, Miles&Smiles programme continues to be part of over 20 million members' lifestyles. Qi Card aims to give them access to Qi Card's trusted payment network, backed by 17 years of innovation and service excellence. Member Benefits: With the new debit card linked to the Qi Card payment system, Iraqi consumers will be able to earn Miles&Smiles rewards directly from their daily spending while enjoying a secure and convenient payment experience both across Iraq and at millions of merchants and ATMs worldwide. The benefits include point-to-mile conversion at a fixed rate, use of miles across more than 353 destinations in 131 countries through Turkish Airlines and its Star Alliance partners. In addition, customers will avail privileged services such as access to business lounges, seat upgrades, fast-track services, and exclusive bonus mile offers. Strategic Partnership: This strategic partnership combines Qi Card's deep understanding and expertise of the Iraqi market. Turkish Airlines' global aviation excellence will deliver an integrated solution that blends financial convenience with world-class travel benefits. 'This partnership reflects our shared vision of enriching everyday experiences through smarter financial tools and aspirational travel rewards,' said Bahaa Abdul Hadi, Chairman of International Smart Card (Qi Card), and added: 'We are excited to offer Iraqis a globally accepted, loyalty-driven product that rewards them for how they spend .' Miles&Smiles Qi Card Mastercard is designed to meet the lifestyle and travel choices of Iraqi consumers. The card is fully integrated with Qi Card's nationwide infrastructure and mobile platform, and can be used globally wherever Mastercard is accepted. ' This co-branded card shows our commitment to the Iraqi market and strengthens our presence in the region by transforming everyday purchases into Miles&Smiles advantages that will pave the way for more memorable experiences for Iraqis ,' said Ahmet Olmuştur, Chief Commercial Officer at Turkish Airlines. The card will be available soon through Qi Card's national distribution network, with onboarding and customer service support provided round the clock. Middle East Expansion: Following its landmark partnership with Turkish Airlines, Qi Card anticipates strong interest from other airlines based in Iraq and in the Middle East seeking similar collaborations to expand horizons and give a better experience for Qi cardholders. About Qi Card: Qi Card is Iraq's leading digital payments platform and the flagship product of International Smart Card (ISC). Since its launch, Qi Card has become a trusted and accessible solution for millions of Iraqis, offering secure and convenient payment, savings, and transaction services through a robust network of financial institutions, merchants, and mobile solutions. About Turkish Airlines: Established in 1933 with a fleet of five aircrafts, Star Alliance member Turkish Airlines has a fleet of 492 (passenger and cargo) aircraft flying to 353 worldwide destinations as 300 international and 53 domestic in 131 countries.
Iraq Business
24-06-2025
- Business
- Iraq Business
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
Khaleej Times
20-06-2025
- Business
- Khaleej Times
Fintech major Qi andUS-based K2 Integrity join forces to align Iraq's financial sector with global standards
In a strategic move to strengthen financial compliance standards across its operations, Qi, also known as International Smart Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. Qi-K2 scope of work will be split into Qi UAE, Qi Jordan and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading not only Qi's internal controls but also developing a model for strengthening the integrity for the entire Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post war and the country has increased its multilateral integration with the international financial institutions, central banks, governments and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. 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. What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. The New York-based K2 Integrity brings decades of experience advising the US government, international institutions, and Fortune 500 banks. Its team includes former senior US Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, global head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' This initiative will position 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.
Mid East Info
19-06-2025
- Business
- Mid East Info
Fintech Major Qi and U.S.-based K2 Integrity Join Forces to Align Iraq's Financial Sector with Global Standards
This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards – Bahaa Abdul Hadi ( Dubai, United Arab Emirates ) – In a strategic move to strengthen financial compliance standards across its operations, Qi, also known as International Smart Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. Qi-K2 scope of work will be split into Qi UAE, Qi Jordan and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading not only Qi's internal controls but also developing a model for strengthening the integrity for the entire Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post war and the country has increased its multilateral integration with the international financial institutions, central banks, governments and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, Chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. Setting National Roadmap 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) Train Qi's personnel across all levels—from frontline staff to executive Take operational responsibility for implementing globally benchmarked compliance Transition the program into a sustainable, best-in-class model eventually managed by What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. Bringing Global Expertise to Iraq The New York-based K2 Integrity brings decades of experience advising the U.S. government, international institutions, and Fortune 500 banks. Its team includes former senior U.S. Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, Global Head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' Reclaiming Iraq's Financial Legacy 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. About Qi: Qi, also known as the International Smart Card or Qi Card, is Iraq's leading digital payment platform, serving over 10 million customers through a unified ecosystem of cards, mobile wallets, merchant services, and government integrations. With a mission to empower the Iraqi economy through transparency, innovation, and financial inclusion, Qi continues to lead Iraq's digital transformation journey. About K2 Integrity: K2 Integrity is a global leader in risk advisory, compliance, and investigations. With a legacy of shaping financial integrity standards and advising on complex cross-border regulatory issues, K2 Integrity empowers institutions worldwide to navigate risk and drive trust.
Fintech News ME
18-06-2025
- Business
- Fintech News ME
Qi Teams Up with K2 Integrity to Boost Iraq's Financial Compliance Standards
Qi, also known as International Smart Card and based in Iraq, has entered into a strategic partnership with K2 Integrity, a United States-based advisory firm specialising in compliance and financial crime prevention. The agreement is intended to enhance the financial compliance standards across Qi's operations in the UAE, Jordan, and Iraq. Under the terms of the partnership, K2 Integrity will establish a large operations and compliance office in Jordan, which will be integrated into Qi's broader compliance framework. Qi's back office in the UAE will also be used by K2 Integrity as a space for testing and developing new products and services. The collaboration represents a step towards upgrading Qi's internal controls and establishing a compliance model aimed at supporting the wider Iraqi financial system. The partnership comes at a time when Iraq is focusing on economic reconstruction and reintegration into the global financial system. Transparency and outdated compliance infrastructure have been areas of concern, affecting the country's reputation with international institutions and investors. Qi has taken action by working with K2 Integrity, a firm recognised for its work in anti-money laundering and counter-terrorist financing standards. The initiative aims to address these challenges and contribute to broader efforts to improve financial integrity in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, Chairman of International Smart Card, which operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' He added that the partnership reflects Qi's commitment to aligning Iraq's electronic payments infrastructure with international compliance expectations. The collaboration will span 36 months and will be carried out in three phases. K2 Integrity will be responsible for evaluating and revising Qi's financial crime compliance framework, providing training to personnel across all levels, taking over operations to implement international best practices, and eventually transitioning the programme to be managed internally by Qi. The scale of this initiative is expected to have a national impact. As Iraq's largest electronic payment provider, Qi works with government agencies, banks, and global financial networks. The compliance systems developed through this partnership are likely to influence broader regulatory and industry standards in the country. K2 Integrity, based in New York, has a track record of advising governments, multinational institutions, and major banks. Its team includes former officials from the US Treasury with experience in designing global compliance and financial crime prevention strategies. The firm's involvement in Iraq reflects a level of confidence in the country's direction on financial reforms. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, Global Head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' The initiative is viewed as a significant development in Iraq's efforts to improve compliance frameworks, foster investor trust, and support financial stability. It is also expected to facilitate cross-border transactions and improve access to financial services, supporting the country's broader economic goals.
