65,000 public employees registered to MyAccount initiative, says PM Barzani
ERBIL (Kurdistan 24) – Kurdistan Region Prime Minister Masrour Barzani on Wednesday announced that 65,000 public employees have been registered to the Kurdistan Regional Government (KRG)’s My Account Initiative, a financial inclusion program that aims to digitalize the public payment system.
Prime Minister Barzani early Wednesday visited the General Directorate of Erbil Police to follow up on the implementation process of the My Account Initiative, which has been rolled out since early February, initially as a pilot project.
The second phase of the financial program began on Sept. 3, and so far, 65,000 employees have been registered, the premier announced.
“MyAccount Initiative aims to facilitate the salary payment process for public employees,” Barzani explained, adding the program also facilitates access to banking services.
The KRG plans to register all its employees to the system in less than two years, which will help in preventing corruption, money laundering, and payment of salaries on time and without delays.
The government also aims to engage the private sector in the project, as it would also benefit the sector, Barzani said.
At least three banks are currently part of the project. The KRG has reached out to other banks to take part in the project.
Around 1,000 ATMs will be installed as part of the project along with points of sale across the Region. The system is currently being carried out in Erbil. The process will begin in Sulaimani and Duhok "soon", the premier added.
What is the MyAccount initiative?
MyAccount Initiative is the KRG's financial inclusion program which aims to "provide public sector beneficiaries with a safe, and convenient way to access their salaries."
First initially launched as a pilot project, which included 841 employees at Erbil Children and Maternity Hospital, the program aims to digitalize all the payment systems.
The KRG Department of Information Technology (DIT) designed, tested, piloted, and implemented a secure application for onboarding KRG employees into the My Account initiative in line with the Central Bank of Iraq’s Know-Your-Customer (KYC) needs, according to a press release shared with Kurdistan 24.
Our financial inclusion project is off to a good start, with big wins:
— Masrour Barzani (@masrourbarzani) October 11, 2023
- Onboarded 65,000 KRG employees
- We will reach >1mn in less than two years
- Private sector payrolls will move to banks in Jan 2024
- Payment terminals (POS) will emerge next year#MyAccount #هەژماری_من pic.twitter.com/xmyMvvSsxL
