On 17 February 2025, the Communications and Media Commission ("CMC") of Iraq formally issued the Framework Regulations for Digital Platforms and Services ("FDP").

We can name quite a few things that have changed in the world since 2014 particularly in the fintech and digital payment services sector of Iraq, and this is especially true when it comes to Iraq's Electronic Payment Services Regulation No. (3) for 2014.

Iraq’s Financial System is under review following the recent extraordinary session convened by the Central Bank of Iraq (CBI) reflects a familiar feature of financial systems operating in periods of regional uncertainty: regulatory institutions move early to assess stability and preserve confidence.

This article deals mainly with the question of Limitation Period under Iraqi Law. Creditors of claims against Iraq which arose from construction, financing and supply contracts concluded with the Iraqi government entities prior to the fall of Saddam Hussein`s regime in 2003 may find this article of interest.

Since the fall of Saddam Hussain`s regime and the occupation of Iraq by the American and the British forces on 9th April 2003, Iraqi laws have been in constant changes. Many old laws have been repealed and replaced by new legislation, and other laws have been amended; first by the US Civil Administrator Paul Bremer, and later by the governments of Iraq.

Contractors and banks intending to enter construction contracts or financing transaction for projects in the Middle East are faced with the questions of the application of Islamic Law and the compliance of certain provisions of their contracts with Sharia.

Islamic banks in Iraq operate under a comprehensive legal framework established by Islamic Banking Law No. 43 of 2015, requiring Central Bank licensing, minimum capital of IQD 250 billion, and mandatory Sharia Supervisory Board oversight. The regulatory environment incorporates AAOIFI and IFSB standards while prohibiting interest-based transactions and requiring strict compliance with Islamic Sharia principles across all banking operations and financial products.

FinTech Comparative Guide for the jurisdiction of Iraq, check out our comparative guides section to compare across multiple countries

In this article we shall attempt to outline the definition of interest, so called( Riba) under the Sharia or Islamic law , followed by a short survey of the laws of some Arab countries which have prohibited or permitted charging interest.