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First Iraqi Bank Announces Iraq’s Fully Digital Bank, Gears for a Cashless Economy in the Country



Arasat Al Hindi, Iraq–(Newsfile Corp. – December 12, 2022) – First Iraqi Bank has officially launched Iraq’s first digital banking services to provide further opportunities for the banking sector in the country. The company’s goal is to meet the rising demand for improved banking options in a cash-based country by establishing a bank that will help Iraq transition to a cashless economy.

“Digital banking has become more prevalent in recent years, but the innovation is still underutilized in some countries, including Iraq,” says founder Kawa Junad. “With our new digital banking application, we can now provide digital-first banking services including full-scope online banking and direct digital transactions without third-party providers.”

“It also enhances the customer experience by assigning each customer an IBAN (International Bank Account Number) to allow cross-border transactions,” he adds.

Junad explains, “First Iraqi Bank is more than just a digital bank. It’s a big platform. It is a new financial ecosystem. You can call it a software app, which includes so many services. It’s a financial institution that would allow Iraq and other countries to enter the FinTech world with a solid advanced foundation.”

The company’s goal is to improve the country and life of the Iraqi people by providing them with innovative technologies. Junad inaugurated the first and only interconnection between Iraq and the international fiber network, launching the first 4G-LTE network in Iraq and the first standalone LTE network in the Middle East.

Junad and his team also pursued the financial technology industry by developing FastPay, Iraq’s quickest, safest, and most convenient mobile wallet. These breakthroughs prove his massive impact on Iraq’s telecommunication and internet industry.

About First Iraqi Bank (FIB)

First Iraqi Bank is the first digital bank in Iraq, created to enhance the country’s financial ecosystem and give its people access to a modern and efficient way of banking. Founded by Kawa Junad, FIB runs on a combination of technologies adapted from the Eastern and Western banking systems into one digital platform.

Contact Details:

Contact Person: Lucy Petsikyan
Email: [email protected]

To view the source version of this press release, please visit

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.


CBiGroup Completes $15M Series A Funding, Focuses on R&D




CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D




CBiGroup Completes $15M Series A Funding, Focuses on R&D

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COTI V2 changing private play on blockchain via encrypted circuit




COTI V2 is revolutionizing blockchain technology with private play through encrypted circuits, offering enhanced speed and efficiency. Currently, the Genesis builder network is live, and the company is inviting developers to join their program. The network supports private play upgrades for Ethereum.

As a privacy-focused Ethereum layer 2 solution, COTI V2 employs advanced encryption technology and encrypted circuits, enabling operations on all devices without compromising personal data.

The primary goal of COTI V2, as outlined in its whitepaper, is to address private play issues on blockchains. Developers can protect privacy through encrypted circuits. The COTI V2 Devnet provides a user-friendly, connectible EVM space (gcEVM) using the Solidity programming language.

Additionally, the COTI V2 network offers developers tools for privacy play with TypeScript and Python SDKs, along with EVM RPC, documentation, a faucet, an explorer, and Hardhat.

COTI has received positive feedback from Civic, a provider of Web3 identification toolkits.

The COTI Foundation plans to launch a privacy-focused growth fund, the ABC Growth Fund, allocating 400 million COTI tokens to provide real-time privacy services.

Developers using the COTI V2 builder network can explore use cases such as confidential DeFi, private payment transactions, stablecoins and RWAs, on-chain data control, confidential AI and machine learning, and decentralized identity recognition.

According to COTI CEO Shahaf Bar-Geffen, the COTI V2 builder and developer program is now available to the public, inviting developers to join the network.


The post COTI V2 changing private play on blockchain via encrypted circuit appeared first on HIPTHER Alerts.

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