Small and Medium Enterprises (SMEs) make up around 90% of all Iraqi companies and account for over 70% of formal jobs, in addition to contributing a significant amount to the country’s GDP. As such, they represent a critical economic sector of great importance to investors, business owners, and analysts. Small and Medium Enterprise policy in Iraq falls under the authority of the Ministry of Finance in conjunction with the country’s National Investment Commission. The Commission’s activities are regulated by Investment Law No. 13 of 2006, which gives it the power to register and regulate investment industries in Iraq as well as regulate and monitor investment activities in order to promote economic growth. The commission also oversees the Iraqi Company for Financing SMEs (ICF-SME), a nonbanking institution with over US$ 14 bn in capital, and the Iraqi Company for Bank Guarantees, a premier provider of SME loan guarantees. The Iraqi government is looking to SME development as a major factor in reducing unemployment and easing the business environment in the country. Since 2003, the SME sector has been the focus of national and international investment initiatives across the country.