Islamic Banking Opportunities Across Small and Medium Enterprises in MENA

This report is a regional executive summary that compares data from nine individual country reports on Islamic banking opportunities across small and medium enterprises. It aims to summarize the findings put forward in the previous reports, analyze the existing structure, and look into future prospects. It provides a comparative analysis of the potential of Islamic banking for SMEs in the  Middle East and North Africa (MENA) region.

Iraq-Patent law

Law NO.65 of 1970

The law covers many important aspects related to granting, registering and publishing patents, right of priority, the expiry and invalidation of patent rights, and transfer of patent ownership, as well as it has a provision covering industrial design-related issues.

Iraq-VAT law

Law NO. 113 of 1982

The law enacts the value added tax, it determines the tax rate imposed on each product and imported goods, also it has provisions on tax deduction on inputs, imposing administrative fines, and tax evasion  (The law amended many times)

Iraq-Investment law

Law NO.13 of 2006

The law (amended by law NO.2 of 2010 and law NO. 50 of 2015) aimed at encouraging investments and transferring modern technologies to contribute to the Iraqi development process, encouraging the Iraqi, foreign and mixed private sector to invest in Iraq by providing necessary facilities to establish investment projects., and by protecting their rights.

Economic and Social Commission for Western Asia (ESCWA)

ESCWA has been working on a project for SMEs that aims to enhance and support the entrepreneurship ecosystem and private sector (M/SMEs) in Arab region. In This regard, ESCWA is developing an SME Digital Enabling Portal for the Arab region which will serve as a one stop shop for information related to finance, legislation, learning and development, UN initiatives and market opportunities.   

Iraq-Company law

Law NO. 21 of 1997

The law (amended by law of 2019) provides all information on how to set-up a company, its registration procedures, its legal form, name, company declaration and termination, as well as stakeholders' rights.

Iraq-Commercial law

Law NO. 30 of 1984

The law covers many important aspects related to types of commercial business including eligibility requirements to practice a commercial business, store rent and insurance, types of commercial contracts, illegal competition, marine businesses, commercial ledgers, and guarantees.