Zain is set to increase the footprint of Zain Cash in Iraq and launch an education programme in a bid to boost financial inclusion among the 89 per cent of the population without access to a bank account.

The company said by expanding its merchant network and increasing knowledge about its mobile money service, it could boost the number of citizens able to access financial services and contribute to meeting the UN’s Sustainable Development Goals (SDGs).

Of the 17 SDGs – which were a major theme of MWC18 – Zain said mobile money services can directly contribute to meeting 11.

In a statement, Zain said it aimed to create awareness and “invest more resources in educating the public on mobile banking and banking in general as most of the population are unaware of the logistics”.

Zain Cash launched in Iraq during 2015 and enables cash transfer, bill payment and point-of-sale retail transactions to be made using any type of mobile handset.

Zain is the country’s largest mobile operator by connections, according to GSMA Intelligence figures for Q4 2017, with 14.7 million connections.

“The global spread of mobile technology has elevated society’s expectations and demand for an accessible, user-friendly, fast, and effective tool for conducting financial transactions,” Zain Group CEO Bader Nasser Al-Kharafi (pictured) said.

“Iraq is a special and unique case given the instability it has endured for nearly a decade and a half now. Iraqis are a proud and industrious people, and in many ways mobile communications has been one of their greatest tools of recovery in this period.”

Zain Cash Iraq CEO Yazen Altimimi added: “Our capabilities have led us to join forces with key NGOs to overcome a shared challenge, with humanitarian agencies hailing the [Zain Cash] model for its quick delivery, higher transparency and control, and cost effectiveness.”