The rise of more advanced technology led to unfolding more digital innovations in healthcare, education, banking, e-commerce, legal services, hiring services, and even telecommunications.
As a response, countries are working to adapt and keep pace with the latest technological advancements. This often involves investing in infrastructure and education and updating laws and regulations to ensure the safe and effective use of technology. Governments are also partnering with tech companies and start-ups to drive innovation and economic growth in a digital economy.
Iraq is one of the countries that has entered into a new era of digital innovations. With the successful initiatives of entrepreneur and leader Kawa Junad, the country effectively managed the integration of technology into their society, balancing the benefits of digital upgrades with the need to protect privacy and security in their day-to-day lives.
Kawa Junad is a businessman and currently the Chairman of Newroz Telecom, a major telecommunications provider in Iraq, and of First Iraqi Bank, the country's first digital bank. With his 20 years of expertise, he led the revolutionary projects that brought Iraq into digital and modern advancements that improved their way of living.
Junad's Unwavering Passion and Commitment To Innovation
According to Junad, his journey in ushering Iraq into the digital era was difficult. It was filled with frustrations and disappointments, but he and his team did not give up because they believed in what they had and what they could achieve.
Junad shares that his innovation journey started when the conflict in 2003 left the telecommunications network in Kurdistan severely damaged, with only a 1% penetration rate many thought it was impossible to restore it. But as a visionary entrepreneur, he saw the potential for a better future and took on the challenge. Through his partnership with various dedicated brands using licensed technologies such as Fiber Backbone Carriers, Fixed Broadband Internet, and 4G LTE, they restored and supplied connections that currently have over 1 million subscribers.
In 2005, Junad also mentioned that the telecom infrastructure in Kurdistan was under the government and had no fiber connection. Despite the difficulties, Junad and his company, Newroz Telecom, secured a deal with the Ministry of Telecom and became partners on a project that would last for many years.
Their partnership has proven to be a great success, as Newroz Telecom has since become a leading provider of telecommunications services in the region. The company has transformed the industry by bringing fiber connectivity, high-speed internet, and mobile services to the people of Kurdistan.
At the same time, Iraq remains a cash-based economy, where cash is the primary form of payment, and services such as Internet banking, ATMs, and credit card transactions are rare. Junad continued to push the boundaries and find innovative solutions to serve the needs of its customers. He established Iraq's first digital bank, the First Iraqi Bank (FBI) which now serves Iraqi people by making banking transactions safe and easy.
"Throughout my career, my main goal was to improve the country and life for the Iraqi people by providing them with innovative technologies. It was hard, but I am happy that these innovations made their lives better," Junad shares.
Junad's Future-Focused Mindset
"Never do what's happening now. Look to the future and create what is needed for then," Junad shares. This belief enabled Junad to achieve what Iraq has now and what can still be achieved in the future.
He also elaborates that following the global economic growth, progress, and innovations also prompted him to understand the need to develop financial and telecommunication technologies in Iraq. Through this, he was able to initiate projects that drastically changed and opened opportunities for better innovations.
Junad's determination and vision made a significant impact on the region, improving the quality of life for many people and paving the way for a brighter future. His determination is a testament to the power of innovation and determination and a reminder that even the most challenging obstacles can be overcome with hard work and a clear vision.
