Fayeq Ali Ali
Accounting Department, Ishik University, Erbil, Iraq
Email: [email protected]
(Full Paper)

This study is the literature review based upon exploring the importance of disruptive innovation having a vital role in transforming physical money to E-payment by building a strong and well-establishing stock exchange market that benefits the growth of the economy. The focus of this paper is on the physical money transformation to the e-payment system through the establishment of banks, investment banks and building stock exchange market, which could work as a hub that people of Kurdistan can buy and sell stocks globally. The establishment of such an important market may face many difficulties such as trust of people, family-owned businesses, bank infrastructure, investment banks, financial advice-giving agencies, government involvement and so on. In such situation it gets important of transferring money from people pockets to E-payment through banks then it may have the core of the economy of region by attracting foreign direct investments and also can give opportunities to the domestic investors to participate in buying and selling of stocks and securities mean the whole stock exchange operations locally and internationally by encouraging Initial Public Offering to play a role of stock exchange market on development and strengthening the Kurdistan economy.

Keywords: Disruptive Innovation, Physical Money, E-payment system, Stock Exchange Market, Kurdistan Region Government of Iraq, Economic Growth.

ISBN 978-0-9962570-9-1

Faculty of Administrative Sciences and Economics
Tishk International University