To the Council of the College of Administration and Economics / University of Karbala, as part of the requirements for obtaining a Master of Science degree in Economics.

by the student

Zainab Kattouf Abees 

Supervised

 Asst. Prof. Dr. Shaima Rasheed Muhisen

Asst. Prof. Dr. Khalil Hameed Radhi

Financial inclusion plays a significant role in planning sustainable economic development strategies that advance towards achieving their goals through financing sources and leveraging available financial resources according to a well-considered vision. This vision directs these resources towards sectors that contribute to achieving the highest level of well-being for individuals and society in general by providing financial services to individuals and businesses. This, in turn, contributes to strengthening the stability of the financial system, eradicating poverty, achieving sustainable economic development, and extending financial services to the largest possible number of members of society. It also allows women to contribute to building society and enables marginalized groups to own bank accounts, which leads to achieving advanced levels of sustainable economic development, eliminating unemployment and poverty rates, raising educational and health standards, and increasing economic growth rates. Looking at the Iraqi experience, it appears that the Iraqi financial sector has had only a very limited impact on the process of sustainable economic development. This is attributed to the total dependence on oil revenues, the weak contribution of financial projects to economic activity, and the low number of banks, their branches, and the prevailing financial institutions that provide services.  Various financial factors, as well as the decline in consumer demand for the banking sector, may be due to the lack of sufficient funds among individuals, a lack of trust in the banking system, the bureaucratic procedures followed by banks, and the outdated methods used in providing services. Data also indicates that the percentage of the population who have bank accounts did not exceed (23%) in (2023), which reflects a low level of inclusion compared to the average of the countries of the region, which is (52%). The number of bank branches in Iraq reached only about (900) branches during recent years, which is an average of (23) branches per (100,000) people, which is less than the global average of (12) branches per (100,000) people. Poverty data shows that poverty rates recorded high levels, reaching (31%) in some years, which reflects the weak ability of the economy to empower marginalized groups. Therefore, a comprehensive national strategy for financial inclusion must be developed.

To the Council of the College of Administration and Economics / University of Karbala, as part of the requirements for obtaining a Master of Science degree in Economics.

by the student

Zainab Kattouf Abees 

Supervised

 Asst. Prof. Dr. Shaima Rasheed Muhisen

Asst. Prof. Dr. Khalil Hameed Radhi

Financial inclusion plays a significant role in planning sustainable economic development strategies that advance towards achieving their goals through financing sources and leveraging available financial resources according to a well-considered vision. This vision directs these resources towards sectors that contribute to achieving the highest level of well-being for individuals and society in general by providing financial services to individuals and businesses. This, in turn, contributes to strengthening the stability of the financial system, eradicating poverty, achieving sustainable economic development, and extending financial services to the largest possible number of members of society. It also allows women to contribute to building society and enables marginalized groups to own bank accounts, which leads to achieving advanced levels of sustainable economic development, eliminating unemployment and poverty rates, raising educational and health standards, and increasing economic growth rates. Looking at the Iraqi experience, it appears that the Iraqi financial sector has had only a very limited impact on the process of sustainable economic development. This is attributed to the total dependence on oil revenues, the weak contribution of financial projects to economic activity, and the low number of banks, their branches, and the prevailing financial institutions that provide services.  Various financial factors, as well as the decline in consumer demand for the banking sector, may be due to the lack of sufficient funds among individuals, a lack of trust in the banking system, the bureaucratic procedures followed by banks, and the outdated methods used in providing services. Data also indicates that the percentage of the population who have bank accounts did not exceed (23%) in (2023), which reflects a low level of inclusion compared to the average of the countries of the region, which is (52%). The number of bank branches in Iraq reached only about (900) branches during recent years, which is an average of (23) branches per (100,000) people, which is less than the global average of (12) branches per (100,000) people. Poverty data shows that poverty rates recorded high levels, reaching (31%) in some years, which reflects the weak ability of the economy to empower marginalized groups. Therefore, a comprehensive national strategy for financial inclusion must be developed.