Aziz, Teymour AbdelMcConaghy, Peter2014-05-052014-05-052014-02https://hdl.handle.net/10986/18154A well-functioning financial sector is critical for efficient resource allocation leading to increased productivity, greater investment, and higher overall levels of economic growth. This is particularly critical in Iraq, where years of political instability and violence have impeded the development of a robust private sector, decimated infrastructure and institutions, and caused serious employment challenges. The proportion of individuals with access to formal financial services including credit, savings, and insurance services is critical for improving household welfare by spurring economic activity and helping manage economic shocks. Financial inclusion positively impacts on macroeconomic stability. The extent of financial intermediation causally impacts growth, mostly through lower transaction costs and better distribution of capital and risk across the economy. Microfinance has in recent years become an important mechanism to promote financial inclusion and economic development in Iraq. Microfinance institutions (MFIs) have emerged as credible sources of financing for low income households and microenterprises, both underserved by conventional banks.en-USCC BY 3.0 IGOACCESS TO CREDITACCESS TO FINANCIAL SERVICESBANK ASSETSBANK DEBTBANKING LAWBANKING SECTORBANKING SECTOR ASSETSBRANCHESBUSINESS LOANSCAPITAL REQUIREMENTSCENTRAL BANKCLIENT BASECODE OF CONDUCTCOLLATERALCOMMERCIAL BANKSCONSUMER PROTECTIONCONVENTIONAL BANKSCREDIT BUREAUCREDIT INFORMATIONCREDITWORTHINESSDEBTDEPOSITDEPOSITSDISBURSEMENTECONOMIC ACTIVITYECONOMIC DEVELOPMENTECONOMIC GROWTHEMPLOYEEENABLING ENVIRONMENTENTREPRENEURSEXPANSIONFINANCE COMPANIESFINANCE COMPANYFINANCIAL DEVELOPMENTFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIATIONFINANCIAL LEASINGFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL SECTOR POLICIESFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SYSTEMFIRMSFOREIGN PARTNERSFORMAL FINANCIAL INSTITUTIONFORMAL FINANCIAL INSTITUTIONSFORMAL FINANCIAL SERVICESFREE LOANSFUNDING SOURCESGOVERNMENT INTERVENTIONGROWTH RATESHOUSEHOLD WELFAREHOUSEHOLDSHOUSINGHOUSING LOANSINCOMEINCOME GROUPINCOME-GENERATING PROJECTSINFORMATION SHARINGINSURANCEINSURANCE COMPANIESINSURANCE SERVICESINTEREST RATESINVESTMENT CLIMATELABOR FORCE PARTICIPATIONLARGE ENTERPRISESLAWSLEGAL FRAMEWORKLEVEL PLAYING FIELDLOANLOAN PORTFOLIOLOAN PROCESSINGLOAN PROCESSING TIMELOAN PROVISIONINGLOAN RECOVERYLOAN SIZELOCAL INVESTORSMACROECONOMIC STABILITYMARKET DISTORTIONMFIMFISMICRO-ENTERPRISESMICROCREDITMICROENTERPRISESMICROFINANCEMICROFINANCE INSTITUTIONSMICROFINANCE PROGRAMSMICROFINANCE SECTORMONETARY FUNDMONEY TRANSFERSMOVABLE COLLATERALNON-PERFORMING LOANSOUTREACHOVERDRAFTPAYMENT SERVICESPORTFOLIO QUALITYPRIVACYPRIVATE BANKSPRIVATE SECTOR DEVELOPMENTPRODUCTIVITYPRUDENTIAL REGULATIONSREGULATORY BARRIERSREGULATORY FRAMEWORKREPAYMENTREPAYMENT PERIODRESOURCE ALLOCATIONSAVINGSSAVINGS ACCOUNTSSMALL BUSINESSESSMESME FINANCESTOCK MARKETSUPERVISORY FRAMEWORKTAXTAX EXEMPTIONSTRADE FINANCETRANSACTIONTRANSACTION COSTSUNEMPLOYMENTUNFAIR COMPETITION10.1596/18154