Economy

Trade Bank of Iraq joins MyAccount project

According to the instructions of Prime Minister Masrour Barzani, representatives of the Kurdistan Regional Government (KRG) and the MyAccount project team held several meetings this week with representatives from TBI.

Kurdistan 24 2024/05/08 16:50

The logo of the Trade Bank of Iraq (left) and the MyAccount project. (Photo: Designed by Kurdistan24)

Kurdistan My Account Iniative Trade Bank of Iraq

ERBIL (Kurdistan24) – The Ministry of Finance and Economy announced on Wednesday, that the Trade Bank of Iraq (TBI) declared its participation in the MyAccount project.

At the meeting, both sides discussed the mechanisms and requirements for opening accounts, the process of issuing cards, and the deployment of ATMs throughout the region.

The Ministry of Finance and Economy welcomes this partnership and says it will bring great benefits to the people of the Kurdistan Region.

The total number of civil servants registered for the MyAccount project has reached more than 300,000 so far.

The government’s Department of Information Technology (DIT) designed, tested, piloted, and implemented a secure application for onboarding KRG civil servants into the program in line with the Central Bank of Iraq’s Know-Your-Customer (KYC) needs, according to a press release previously shared with Kurdistan24.

Four private banks have so far taken part in the project, including Ashur, BBAC, Cihan, and RT Bank.

MyAccount project is the KRG's financial inclusion program which aims to "provide public sector beneficiaries with a safe and convenient way to access their salaries."