PM Barzani promises benefits from new banking initiative
ERBIL (Kurdistan 24) – Kurdistan Region Prime Minister Masrour Barzani on Friday said in a video message on Twitter that citizens in the Kurdistan Region can expect many benefits from the new financial inclusion program, which focuses on improving the banking system in Kurdistan.
Citizens can expect many benefits from our financial inclusion program:
— Masrour Barzani (@masrourbarzani) March 3, 2023
• Over 1 million citizens moved into retail banking
• Corporate banking for businesses
• Digital payments of public services
• Ubiquity of point of sale machines
That’s my promise -mb.#هەژماری_من pic.twitter.com/zDGTtm8pP0
He highlighted the goals of the initiative to include moving more than 1 million citizens into retail banking, enhancing corporate banking for businesses, enabling digital payments for public services, and an ubiquity of point of sale machines.
“This will greatly facilitate the lives of all citizens enabling them to purchase and travel abroad using bank cards without the need for cash. Additionally, it will serve as a facilitation for visitors of Kurdistan,” he said.
“Our intention is to implement this digitally under the close supervision of the government. The reason why we dedicated two years to this project is to ensure that it can be successfully implemented,” he added.
So far the government has worked with two banks that had the capacity to implement the project.
“However, within the next six months, we will expand the opportunity for other banks that are able to participate.”
He also added that in “the future, there will be more advanced systems that citizens can benefit from,” such as making payments with their smartphones. “I envision a remarkably bright future for Kurdistan.”
Read More: PM Barzani launches another groundbreaking initiative
Last Tuesday, KRG PM Barzani announced the soft launch of a new banking initiative, “My Account.”
It is a financial inclusion program for public sector employees, pensioners and security forces.
PM Barzani affirmed that the program will be expanded with new measures to enhance digital payments in the near future.
As part of the 9th cabinet agenda, PM Barzani aims to digitize public services, increase citizen satisfaction, and facilitate the ease of doing business in Kurdistan.