The World Bank revealed on Sunday that Iraq has exceeded the financial coverage of the Arab countries by 11%.
The Bank said in a press statement that “Iraq recently worked with the system of financial inclusion in order to continue the financial and banking progress that the world works today, which reached very advanced levels.”
According to the bank, “Iraq accounts for 11% of the financial system, 15.3% in Sudan, 24.2% in the West Bank and Gaza, 24.6% in Jordan and 27.3% in Tunisia.”
Worldwide, Canada was the world’s most prevalent country with 99.2% prevalence, followed by the UK and Australia with 98.9%, Germany with 98.8%, Japan and France with 96.6%.
Financial coverage, known as financial spread, is the ability of the banking system to provide banking services to the largest number of segments of society at reasonable costs, and can be expressed in several measures, most notably the proportion of individuals over the age of 15 who have bank accounts in the banking system.