The Impact of Marketing Digital Banking Services on Enhancing Financial Inclusion: A Causal Analytical Study of Financial Data in a Sample of Leading Iraqi Banks

Abstract

This study aims to measure the causal impact of digital banking services marketing on enhancing financial inclusion within the Iraqi banking sector, specifically addressing the gap between digital infrastructure investments and actual service adoption rates. Adopting a quantitative descriptive-analytical methodology, the research analyzes official secondary panel data from 2016 to 2025 across a sample of five leading Iraqi banks: Al-Rafidain, Al-Rasheed, Baghdad, International Development, and Iraqi Trade Bank. Multiple linear regression models with fixed effects and Granger causality tests were applied to test the hypotheses. The results reveal that digital marketing content quality is the most significant driver of financial inclusion (β = 0.71–0.77), followed by marketing intensity, whereas channel diversity showed no causal significance. The study identifies a critical "continuity gap," with customer retention rates not exceeding 64%, indicating a failure in post-acquisition strategies despite private sector growth reaching 153%. It concludes that educational-investment marketing outperforms promotional advertising in achieving sustainable inclusion. Recommendations include reallocating 70% of marketing budgets to educational content, adopting a focused digital model, and linking retention metrics to regulatory incentives.