Latest news with #K2Integrity
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity
Lebanon's central bank signed an agreement on Monday with US risk management advisory firm K2 Integrity aimed at combating illegal activities and fraud, according to a statement. The agreement is part of the central bank's efforts to come off the global financial crime watchdog FATF's "grey list" of countries under special scrutiny. FATF placed Lebanon on the list last October.
Al Arabiya
3 days ago
- Business
- Al Arabiya
Lebanon central bank signs deal with US risk management firm to combat illegal activity
Lebanon's central bank signed an agreement on Monday with US risk management advisory firm K2 Integrity aimed at combating illegal activities and fraud, according to a statement. The agreement is part of the central bank's efforts to come off the global financial crime watchdog FATF's 'grey list' of countries under special scrutiny. FATF placed Lebanon on the list last October. Read more:
Iraq Business
24-06-2025
- Business
- Iraq Business
Qi and K2 Integrity to Elevate Iraq's Financial Standards
By John Lee. Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm. The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing of terrorism (CFT). The partnership spans operations in the UAE, Jordan, and Iraq. A major compliance back office will be established in Jordan, fully integrated into Qi's ecosystem, while the UAE office will serve as an innovation hub. ISC Chairman Bahaa Abdul Hadi described the initiative as part of a broader national mission: "This is not just about one business group. This is about Iraq and its economic future ... we are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity." The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks. Evaluate and transform Qi's current financial crime compliance (FCC) framework. Train Qi's personnel across all levels-from frontline staff to executive leadership. Take operational responsibility for implementing globally benchmarked compliance practices. Transition the program into a sustainable, best-in-class model eventually managed by Qi. According to a press release, this initiative marks a pivotal milestone in Iraq's compliance evolution, strengthening national capabilities and building a foundation for secure, scalable financial growth; it positions Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion. (Source: Qi) Tags: anti money laundering (AML), cg, compliance, Counter Financing of Terrorism (CFT), electronic payments, featured, financial inclusion, financial integrity, fintech, International Smart Card (ISC), Iraq, Jordan, K2i, Qi, Qi card, United Arab Emirates (UAE), United States
Iraqi News
23-06-2025
- Business
- Iraqi News
Qi, K2 Integrity partner to raise Iraq's financial compliance standards
Baghdad ( – Iraqi fintech Qi has partnered with US-based K2 Integrity to upgrade its compliance systems and align Iraq's financial sector with global standards. The agreement includes the establishment of a compliance hub in Jordan and an innovation center in the UAE, supporting operations across the region. The 36-month roadmap will see K2 Integrity revamp Qi's financial crime compliance framework, train staff, and implement international best practices. Qi Chairman Bahaa Abdul Hadi said the move reflects a commitment to transparency and economic leadership in Iraq. 'This is about Iraq's future. We are investing to meet the highest global standards.' Qi, Iraq's largest electronic payment platform, serves over 10 million users and plays a central role in the country's financial ecosystem. K2 Integrity's involvement is seen as a vote of confidence in Iraq's ongoing economic reforms.
Tahawul Tech
22-06-2025
- Business
- Tahawul Tech
Qi, K2 Integrity join forces to align Iraq's financial sector with global standards
Dubai — Iraq's leading digital payment platform, Qi, International Smart Card or Qi Card, has signed a landmark partnership with K2 Integrity, a global compliance and financial crime advisory firm. The Qi-K2 scope of work will be split into Qi UAE, Qi Jordan, and Qi Iraq. K2 Integrity will build a large operations and compliance back office in Jordan for Qi and will integrate this office into Qi's compliance ecosystem. K2 Integrity will further use Qi's UAE back office as an innovation incubator and sandbox for new Qi products and services. This long-term collaboration marks a new milestone for upgrading Qi's internal controls and developing a model for strengthening the integrity of the Iraqi financial system. The agreement comes at a time when the Iraqi economy has started rebuilding post-war and the country has increased its multilateral integration with the international financial institutions, central banks, governments, and foreign investors. The concerns over outdated compliance and transparency have challenged the country's reputation. At this point, Qi has taken decisive action and partnered with a pioneer and powerhouse of the modern global AML/CFT compliance and standards conglomerate. The Qi and K2 Integrity duo is set to shift this narrative and build a model of excellence for compliance in Iraq. 'This is not just about one business group,' said Bahaa Abdul Hadi, Chairman of International Smart Card (ISC), which owns and operates the Qi Card platform. 'This is about Iraq and its economic future. We believe in leading by example as we did in the past. We are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity.' 'This partnership illustrates Qi's proactive stance in positioning the company's and Iraq's electronic payment infrastructure at the forefront of global compliance standards,' said Bahaa. The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks. Evaluate and transform Qi's current financial crime compliance (FCC) framework. Train Qi's personnel across all levels—from frontline staff to executive leadership. Take operational responsibility for implementing globally benchmarked compliance practices. Transition the program into a sustainable, best-in-class model, eventually managed by Qi. What distinguishes this initiative is its national impact. Qi is Iraq's largest electronic payment platform, serving millions of customers and integrating with the central government, major banks, and global payment networks. The compliance infrastructure built with K2 Integrity for Qi will ripple across the country's financial ecosystem, influencing how banks, the fintech sector, and regulators approach risk, governance, and trust. The New York-based K2 Integrity brings decades of experience advising the US government, international institutions, and Fortune 500 banks. Its team includes former senior US. Treasury officials who helped craft counter-illicit finance strategies and global standards. K2 Integrity's entry in Iraq signals confidence in Iraq's financial reform trajectory. 'Qi is setting the tone for a new era in Iraq,' said Chip Poncy, Global Head of Financial Integrity at K2 Integrity. 'By committing to global standards and transparency, Qi is building not just resilience, but regional leadership in financial compliance.' This initiative marks a pivotal milestone in Iraq's compliance evolution, strengthening national capabilities and building a foundation for secure, scalable financial growth.
