Federal Court to clarify equal rights for KRG citizens in Iraq's salary domiciliation program
He reiterated this stance on a post on the social media platform X, underscoring that any bank licensed by the Central Bank of Iraq and meeting the MyAccount initiative requirements should be able to create accounts for KRG beneficiaries.
ERBIL (Kurdistan24) – Aziz Ahmad, Deputy Chief of Staff to the Prime Minister, announced that the Federal Supreme court in Baghdad will issue a correction this week to ensure that citizens of the Kurdistan Region enjoy the same rights as all Iraqis under the Central Bank of Iraq's salary domiciliation program (Tawteen).
Ahmad emphasized that KRG citizens have the same rights as Federal government beneficiaries to choose from a list of approved banks.
He reiterated this stance on a post on the social media platform X, underscoring that any bank licensed by the Central Bank of Iraq and meeting the MyAccount initiative requirements should be able to create accounts for KRG beneficiaries.
The court in Baghdad will issue a correction this week to clarify that KRI citizens enjoy the same rights as all Iraqis under @cbiraq’s salary domiciliation program, as we have long argued.
— Aziz Ahmad (@azizkahmad) April 28, 2024
Federal govt beneficiaries choose from a list of approved banks. The KRG beneficiaries…
He further clarified that all banks participating in the MyAccount initiative are licensed and individually approved by the Central Bank of Iraq, ensuring compliance with regulatory standards.
Ahmad's statements come in response to previous concerns raised regarding the banking of salaries for the Kurdistan Region.
Earlier remarks from Ahmad highlighted the commitment of the Prime Minister's Office to adhere to decisions and recommendations from the Central Bank of Iraq regarding the banking process for KRI salaries.
He stressed the need for parity between the Kurdistan Region’s citizens and Federal government beneficiaries in bank selection for salary disbursement.
While both the KRG's MyAccount project and the Federal government's domiciliation program (Tawteen) aim to distribute salaries through bank cards, the MyAccount initiative offers additional benefits at a lower cost.
MyAccount enables remittances, daily purchases, investments, and trades with trusted banks, along with round-the-clock access to cash withdrawal machines.
Notably, all banks participating in the MyAccount initiative have been approved by the US Treasury Department and licensed by the Central Bank of Iraq. The participating banks are: BBAC, NBI, Cihan Bank, RT, IIB, and Bank of Baghdad.
The My Account Project, a strategic initiative of the ninth cabinet of the Kurdistan Regional Government, represents a significant milestone in salary payment methods, strengthening public sector finances with the approval of the Central Bank of Iraq.
The project continues to open bank accounts for KRG salaried employees, with over 260,000 employees registered and more than 150,000 bank cards issued as of early this month.
