PM Barzani reinforces commitment to financial inclusion with MyAccount initiative

ERBIL (Kurdistan24) – Prime Minister Masrour Barzani reaffirmed the Kurdistan Regional Government's (KRG) commitment to its MyAccount initiative, stating that efforts to undermine the initiative "would not succeed." Speaking to Kurdistan24's Nawras Abdulla during a press conference following the MERI Forum held in Erbil on Tuesday, Barzani underscored the government’s determination to advance financial accessibility for civil servants across the Kurdistan Region.

The MyAccount initiative is a cornerstone of the KRG’s broader financial inclusion strategy, designed to streamline salary payments and increase financial access for nearly one million civil servants. As part of the initiative, the government plans to deploy around 1,000 ATMs across the region, enabling civil servants to access their wages directly from their personal bank accounts.

Developed by the Department of Information Technology (DIT) in compliance with the Central Bank of Iraq's Know-Your-Customer (KYC) standards, the MyAccount initiative includes a secure onboarding application tailored to meet regulatory requirements. The initiative has already garnered support from eight major banks: BBAC, Cihan Bank, RT Bank, Bank of Baghdad, Iraqi Islamic Bank, National Bank of Iraq, Trade Bank of Iraq, and the International Development Bank.

Through MyAccount, the KRG aims to provide civil servants with a safe and convenient method to access their salaries, reinforcing the government's commitment to enhancing financial services and fostering a more accessible banking environment across the Kurdistan Region.