This study aims to explain the importance of regulatory laboratories for innovative financial technologies, and the necessity for the Central Bank of Iraq to establish this laboratory for the purpose of determining which innovation is more appropriate and less expensive for customers and to develop the banking and financial industry in a way that leads to the diversification of services and products, and make room for people with low incomes to use it by raising the awareness and enhancing the culture of banking among the people of Iraqi society, in order to give them the opportunity to obtain the necessary financing. A descriptive, inductive approach was followed for studies and research in this field, and it was concluded that the Central Bank issued innovative digital technologies and attracted financial technology companies, which led to the issuance of instructions and laws regulating the work of these companies and financial technologies. Accordingly, it could establish a special laboratory for Iraq to test other technologies that the Central Bank wants to offer to customers.