Business

A Closer Look at Qi Card’s Range of Financial Services

Published

6 months ago

August 19, 2024

Credit: Qi Card

Since starting in 2007, Qi Card has become a significant player in Iraq’s financial services. The Iraqi Electronic Payment Systems and Rafidain Bank founded Qi Card, which has changed how financial services operate in Iraq. It offers a variety of services that have impacted the financial industry.

Biometric ID Cards: Enhancing Security

Qi Card introduced biometric ID cards, setting a new standard for secure transactions in Iraq. These cards use fingerprint-based authentication, which helps prevent fraud and identity theft. Users can access their funds and complete transactions safely and efficiently.

Qi Card’s biometric ID cards have transformed financial inclusion in Iraq. As of 2024, Qi Card serves over twelve million clients, including government employees, pensioners, and private sector workers. Bahaa Abdul Hadi, the founder of Qi Card, said, “Our biometric technology has improved security and enhanced the user experience, making financial services accessible to more Iraqis.”

Comprehensive Mobile Application: Qi Services

Qi Card’s mobile application, Qi Services, is vital to its offerings. The app allows users to check balances, transfer money, and accept payments—all from their smartphones. This easy-to-use platform helps customers manage their finances effortlessly.

One standout feature of the Qi Services app is its integration with Western Union. This partnership makes it easy for users to send money internationally, which is essential for the Iraqi diaspora, as it allows them to send money home quickly and securely.

Salary Distribution and Loan Disbursement

Qi Card is crucial for distributing salaries to government and private sector employees. This service guarantees that employers pay wages on time and securely, reducing the administrative burden on employers and providing employees with a reliable way to receive their pay.

Since 2018, Qi Card has disbursed over $4 billion in loans to more than 800,000 citizens. These loans support small businesses and individuals, contributing to economic growth. The use of multi-biometric identification makes sure that these loan disbursements are secure and accessible.

Strategic Partnerships: Expanding Reach and Capabilities

Qi Card has formed strategic alliances to enhance its service offerings. Its partnership with Asiacell and Digital Zone aims to streamline digital transactions and promote financial inclusion in Iraq. These collaborations combine the strengths of each partner to offer more comprehensive services to users.

In a significant move, Qi Card launched the ‘superQi’ app in partnership with Alipay. This app integrates various financial services, including e-commerce capabilities, making it a one-stop solution for users. Bahaa Abdul Hadi noted, “The ‘superQi’ app marks a significant leap in providing comprehensive, advanced financial services to our users, setting a new standard in the region.”

Commitment to Financial Inclusion

A key goal of Qi Card is to enhance financial inclusion. It provides access to financial services to previously underserved populations, including displaced migrants. Qi Card is filling critical gaps in the financial system, making sure that more Iraqis can participate in the formal economy, and promoting broader economic growth.

Qi Card continues to innovate with products like travel card and credit facilities, which cater to the diverse needs of Iraq’s population and provide tailored solutions that enhance financial accessibility and convenience.

Future Prospects and Industry Impact

Iraq’s fintech sector is expected to grow significantly, with an estimated annual growth rate of 20% for 2024-2025. Qi Card is well-prepared to lead this growth with its strong technological foundation and strategic partnerships. The company’s innovative solutions and comprehensive services will likely attract more users.

While Qi Card has achieved considerable success, challenges remain. Regulatory changes and technological advancements, such as blockchain and AI, present both risks and opportunities. Qi Card’s ability to adapt and innovate will be crucial in navigating these changes and maintaining its leadership in the market.

Qi Card’s range of financial services highlights the company’s innovative spirit and dedication to enhancing financial inclusion in Iraq. Through advanced biometric technology, a comprehensive mobile application, strategic partnerships, and a focus on underserved populations, Qi Card is transforming the financial terrain in Iraq.

As the company continues to grow and evolve, its impact on Iraq’s economy and the global fintech industry will be significant.

Business

Mega Construction Projects That Relied on Advanced Crane Technology

Published

2 days ago

February 21, 2025

Matthew Wiles

When it comes to large-scale construction projects, the right equipment can make all the difference. From towering skyscrapers to massive bridges and complex infrastructure developments, cranes play a crucial role in lifting, transporting, and positioning heavy materials with precision and efficiency. As technology has advanced, so too has crane engineering, allowing for safer and more ambitious builds. In the points below, we take a closer look at some of the world’s most impressive mega construction projects that relied on cutting-edge crane technology to bring them to life.

Burj Khalifa – Dubai, UAE

Standing at a staggering 828 metres, the Burj Khalifa remains the tallest building in the world. Constructing such a colossal structure required cranes that could operate at extreme heights. Specialised luffing-jib tower cranes were employed to lift materials hundreds of metres into the air, battling high winds and desert heat. These cranes were anchored to the structure itself as it rose, ensuring stability and precision throughout the build.

Sydney Metro – Australia

As Australia’s largest public transport infrastructure project, the Sydney Metro has transformed the way people move around the city. The project required massive tunnel boring machines (TBMs) to carve underground routes, but just as critical were the cranes used to transport and position enormous precast concrete segments. Mobile and crawler cranes with advanced hydraulic systems played a key role in assembling stations and track infrastructure with minimal disruption to existing road networks.

Hong Kong-Zhuhai-Macau Bridge – China

This engineering marvel, stretching 55 kilometres across the Pearl River Delta, is one of the longest sea crossings ever built. Given its scale, floating cranes with immense lifting capacity were used to position pre-fabricated bridge sections. Some of these cranes had lifting capabilities exceeding 3000 tonnes, demonstrating the sheer power and precision required for such a complex marine project.

The Panama Canal Expansion – Panama

The expansion of the Panama Canal was one of the most ambitious infrastructure projects in recent history, involving the construction of massive new lock chambers. Gigantic gantry cranes were used to install the enormous steel lock gates, some weighing over 3000 tonnes. These cranes had to operate with pinpoint accuracy to ensure the seamless functioning of the canal’s new locks, allowing for the passage of larger vessels.

Hinkley Point C Nuclear Power Station – UK

The construction of this next-generation nuclear power plant has required some of the world’s most advanced heavy-lift cranes. The site features one of the largest land-based cranes in the world, capable of lifting reactor components that weigh hundreds of tonnes. These high-tech cranes have been crucial in ensuring the safe and efficient assembly of the plant’s intricate infrastructure.

The Role of Advanced Crane Technology in Modern Construction

Each of these projects would have been impossible without the evolution of crane technology. Innovations such as digital load monitoring, autonomous operation, and enhanced safety systems have allowed cranes to handle heavier loads with greater precision than ever before. For companies tackling complex construction projects, working with an experienced crane hire provider is essential. Businesses like Sventek Cranes offer cutting-edge crane solutions, ensuring that even the most ambitious projects can be completed safely and efficiently.

Mega construction projects continue to push the limits of engineering and design, and advanced crane technology remains at the heart of these achievements

Whether it’s lifting components for a record-breaking skyscraper or positioning bridge segments over open water, cranes will always be an integral part of building the world’s most remarkable structures. By leveraging state-of-the-art crane systems, today’s construction industry is making the impossible possible – one lift at a time.