KRG digital banking scheme
My Account adds another bank in expansion
ERBIL — The Kurdistan Regional Government (KRG) has announced the inclusion of the Iraqi Islamic Bank in the My Account project, a digital initiative aimed at streamlining the process for government employees and pensioners to receive their payments.
The project now collaborates with multiple banks, including BBAC, Cihan, NBI, and RT, with additional banks expected to join by the end of March. To date, the initiative has resulted in the creation of over 240,000 bank accounts for regional government employees, with more than 120,000 banking cards distributed. The project is part of the KRG’s efforts to enhance financial accessibility and efficiency within the region.
However, the initiative has been met with mixed reactions. On one hand, it is viewed as a step towards modernizing the region’s financial systems and moving towards a cashless society. On the other, it has sparked protests among certain sectors of the public workforce, particularly in Sulaymaniyah, where teachers only just concluded a months-long strike over the KRG’s historical difficulties with timely salary payments. The KRG has faced challenges in consistently distributing salaries on time for nearly a decade.
Protesters, especially in Sulaymaniyah and Halabja, have called for salaries to be paid through Iraqi banks instead, citing the Federal Supreme Court’s ruling that salaries in the Kurdistan Region should be managed directly by Baghdad.
Sulaymaniyah teachers protest My Account banking initiative
KRG launches My Account initiative in Sulaymaniyah, Duhok
