In today’s rapidly changing business landscape, companies must be ready to adapt and evolve to remain competitive and succeed in the long term. Being “future-ready” means having the foresight, flexibility, and resources necessary to respond effectively to the challenges and opportunities of tomorrow. Whether mitigating potential risks, anticipating shifts in consumer behavior, or staying ahead of technological advancements, companies prioritizing their future readiness will be better positioned to navigate an uncertain and complex business environment.
Revolutionary leader and entrepreneur Kawa Junad believes in the importance of being ‘future ready’ to build technologies, cultures, and ideas that can shape how the world works today. He shares some insights on how it is to have a future-focused mindset and its impact on the business.
Kawa Junad is an entrepreneur with 20 years of combined experience and expertise in the telecommunications and financial technology industries and the founder of Newroz Telecom.
After Newroz Telecom’s success, it established Fastlink which is the first company to implement the 4G LTE Network in Kurdistan. This makes the group the leading telecom services provider in the region.
Consumers are becoming more digital-first
A future-focused individual also knows and understands that various industries are becoming more digital-first. According to a study, 70% of businesses either have a digital transformation strategy or are currently working on one.
Through continuous globalization expansion, advances in technology and communication are making it easier for businesses, people, and governments to collaborate and trade in ways that were impossible before. This is evident in e-commerce platforms, worldwide shipping options, online payments to anywhere in the world, and many more.
Globalization also allowed financial technology and telecommunications industries to digitize formerly traditional methods such as cash-based payments and 2G internet connections.
Meeting consumer and industry demands with technology
Prior to the advancement of globalization, Junad was already revolutionizing the telecommunications industry in Kurdistan Region of Iraq by introducing cutting-edge technologies aimed at enhancing people’s lives. Despite the significant challenges faced in 2005, when the government still dominated the telecom industry in Iraq, Junad and his team made history by establishing the first and only interconnection between Iraq and the global fiber network. With over 5,700 km of fiber network spanning the entire region and country,
It established the interconnection between Iraq and Turkey which allowed Iraq to be easily connected to the Western world.
“At the time, building the infrastructure was very expensive, and there was no guarantee on the return on investment, but we tried despite all these odds because we always believe in the future,” Junad shares.
Junad was also a pioneer in the country’s financial technology sector. Anticipating the future of digital banking and Iraq’s need for transformation, he led the shift towards modern banking systems, moving away from a solely cash-based economy. He established FastPay, Iraq’s fastest and most secure mobile wallet, where users can access their funds for shopping, bill payments, internet recharge, money transfers and more in a single app.
In addition, Junad pioneered The First Iraqi Bank (FIB), Iraq’s first digital that integrates the latest banking and payment technologies from both Western and Eastern countries into one digital banking platform. FIB also offers digital banking services, including bank-to-bank payments through QR code scanning.
“FIB is more than just a digital bank. It’s a platform, a new financial ecosystem, a financial institution that will allow Iraq and other countries to enter the world of fintech with a solid and advanced foundation,” Junad expounds.
Junad’s forward-thinking mindset was a critical factor in his ability to drive these major transformations. Despite facing obstacles, he was unwavering in his belief that his efforts would positively impact the lives of Iraqis in the future.
“It’s important to not just focus on immediate needs, but to look towards the future and anticipate what will be required at that time,” says Junad. “With this in mind, I strive to create something new, even if it doesn’t yet exist.”
Looking At The Bright Future For Iraq
As the Iraqi government shifts its policies to adapt to the continuous modernization of financial systems, Junad sees a bright future ahead for the country. This unwavering dedication and forward-thinking mindset enabled him to revolutionize the telecommunications industry and establish groundbreaking financial technology projects in Iraq.
“The Iraqi economy is rising again, and I believe it will be one of the strongest in the next two or three years,” Junad states. With Iraq’s potential, Junad is envisioning greater things for the country.
Despite the challenges he faced in establishing a revolutionary interconnection between Iraq and the international fiber network, Junad persevered in his pursuit of a better future for Iraq. His innovative solutions, including FastPay and the First Iraqi Bank, have already transformed the lives of many and continue to drive efficiency and ease for the Iraqi people.
