ERBIL, Kurdistan Region - The Kurdistan Regional Government (KRG) announced the launch of the “My Account” initiative aimed at providing citizens with an inclusive financial program and modernizing the banking sector, in line with its digitalization campaign.
Last year, Prime Minister Masrour Barzani announced the KRG’s Digital Transformation Strategy aimed at transforming government services into being more “citizen-centric.”
The “My Account” initiative will provide will provide public sector employees, pensioners, and security forces with safe, transparent, and convenient access to their salaries,” according to a statement released by the KRG on Tuesday.
“We want to achieve what takes other countries 30 years to accomplish in two years. We do not have such time. The indicators are suggesting that the project’s success is almost guaranteed,” Hiwa Afandi, the head of the KRG's Department of Information Technology (DIT) told Rudaw on Thursday.
The new program will be available in numerous locations across the Kurdistan Region and Iraq, providing access to modern banking services.
“Further enriching the program's spectrum, we eagerly anticipate the onboarding of more banking partners in the near horizon,” Barzani said on Wednesday.
Afandi stated that account registration began last month with over 71,000 people already having registered, adding that 20 registration points currently exist in Erbil.
The KRG said that the new project would reduce the existing heavy reliance on cash while also increasing government efficacy and transparency. Afandi also said the project is being carried out in coordination with the federal government in Baghdad, reassuring that the value of the dinar would remain the same.
It provides civil servant salaries with “an advanced banking system,” with them being allowed to use it around the world. They can pay for governmental services such as electricity and water through the account.
“My Account” is set to begin registrations in Sulaimani and Duhok next month, aiming to reach the private sector by next year.
The soft launch of the program was carried out in February, with the KRG stating that over 800 employees of Erbil’s Children and Maternity Hospital successfully received their salaries using electronic transfers.
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