PM Masrour Barzani at HITEX24 highlights KRG's digital transformation, banking reforms

ERBIL (Kurdistan24) – On Tuesday, the Kurdistan Region’s Prime Minister Masrour Barzani inaugurated the fifth Erbil International Technology Exhibition and Conference (HITEX24), underscoring the Kurdistan Regional Government's (KRG) strides in digitalizing government services and bolstering the banking system.

In his opening address, the Prime Minister expressed his hope that HITEX2024 would serve as a catalyst for further development in the Kurdistan Region, connecting it to the global technology market.

He emphasized that the KRG has made significant progress in digitizing government affairs and public services, aiming to improve efficiency, reduce bureaucracy, and prevent the misuse of public resources.

Prime Minister Barzani lauded the KRG's Office of Technology and Information as one of the most proactive government bodies, actively engaged in building a robust and advanced digital infrastructure.

He also highlighted the recently announced digital transformation strategy, envisioning a modern digital government that accelerates economic development and places citizens at the center of service delivery through technology.

Furthermore, the Prime Minister stressed the importance of a strong and efficient banking system in the region. He noted that the KRG has initiated banking reforms to establish a modern and resilient digital economy, further encouraging investment and attracting businesses and investors from around the world.

Prime Minister Barzani concluded by expressing confidence in the KRG's path toward technological advancement and digital transformation, particularly in the banking and financial sectors. He believes these reforms will foster economic growth and prosperity in the Kurdistan Region.

Full transcript of the Kurdistan Region’s Prime Minister Masrour Barzani’s speech at HITEX24 Expo:

In the Name of God, the Most Gracious, the Most Merciful

Dear Audience,

I am honored and delighted to be here at this exhibition with you, where we have gathered representatives of local and international companies in various fields of technology, communication, and information banking. My hope is that this exhibition will serve as a catalyst for further development in the technology sector, enabling us to connect more closely with both the market and the global technological landscape.

One of our primary goals has been to electronize government affairs and digitize public services, with the aim of improving and accelerating service delivery while also preventing bureaucracy and the waste of public resources.

KRG Department of Information Technology (DIT) stands at the forefront of government agencies dedicated to constructing a robust and advanced digital infrastructure, where technology empowers citizens and places them at the center of our attention. In a move towards a digital future, the Kurdistan Region's Department of Information Technology has recently unveiled a comprehensive digital transformation strategy. This ambitious initiative aims to build a modern, efficient digital government capable of accelerating economic development and placing citizens at the forefront through innovative technology utilization.

Given that one of the key topics of this conference is the governance and development of the financial and banking technology sectors, I feel it is crucial to address the government's programs concerning banking reform.

A strong, effective, and active banking system is essential. To that end, we have embarked on reforming our banking system to establish a modern and resilient digital economy infrastructure, capable of keeping pace with contemporary advancements.

I am pleased to state that we are currently on the right track toward change and reform in terms of technology and the digitalization of financial and banking services. This progress will further encourage both domestic and international businesspeople and investors to explore investment opportunities in various fields within our region.

I extend my gratitude for your cooperation and support of the "MyAccount" project, which serves as an exemplary demonstration of the initial steps we are taking to restore trust in banks and the banking system. As previously announced, our program aims to register one million salaried employees within the banking system over the course of a year. This represents significant progress, as integrating such a large number of citizens into the banking system is no small feat. While I was initially cautioned about the potential difficulties in achieving this within the given timeframe, I am happy to report that we are steadily approaching our objective.

Presently, our banking system is more robust and efficient than ever before, demonstrating commendable growth. Thousands of civil servants are no longer burdened with waiting in long queues to receive their salaries. Additionally, procedures for exporting and receiving remittances have been streamlined and can now be conveniently conducted via mobile phones. Moreover, we have installed 200 new ATMs throughout the region, bringing the total number to an impressive 1,000.

To date, we have successfully integrated over half a million public sector employees into the banking system. In the past ten months alone, banking services in the Kurdistan Region have expanded fivefold. This month, more than 120,000 employees will receive their payments digitally, and next month, this figure will surpass 200,000, with approximately $200 million deposited directly into bank accounts. Remarkably, private sector banks accomplish this within a single day, whereas the KRG previously required a week and the involvement of numerous accountants to achieve the same outcome.

The heightened liquidity and availability of securities are instilling greater confidence in private and commercial banks, enabling them to extend loans to their partners, both individuals and companies.

Initially, private banks will allocate $2.5 million (with plans to increase this to $10 million) toward growth loan projects and support for small and medium-sized enterprises. This initiative empowers small businesses and provides them with a fair chance to flourish.

While the banking system and financial services constitute a cornerstone of our reform process, our efforts have not ceased there. Citizens are now conducting a significant portion of their interactions with the government online, a development that enhances speed and efficiency for everyone. We have also established a data and information center that adheres to international standards. Furthermore, the process of registering companies and businesses has been significantly simplified and expedited.

In the forthcoming year, we will be unveiling several additional initiatives poised to revolutionize the daily operations of citizens and businesses. One such initiative involves issuing over 1.5 million digital identity cards. These cards, already initiated under this cabinet, will enable access to a range of public services in the near future. Anticipate a substantial increase in this number next year.

Distinguished Guests,

The Kurdistan Region has made substantial strides towards digitizing government affairs. Through the implementation of the digital transformation strategy, we anticipate a qualitative leap in the delivery of public services to our citizens, characterized by speed and sophistication.

Today, the technological and artificial intelligence revolution has ushered in a pivotal moment in our lives, impacting all spheres, including communications, education, healthcare, and business. The process of change and advancement is ongoing and swift, compelling us to leverage these advancements effectively and prepare ourselves for the challenges and obstacles that may arise. While technology has undoubtedly made our lives more convenient and enjoyable, it is imperative that we use it judiciously and responsibly, ensuring it serves humanity.

Ladies and Gentlemen,

During my visit to this exhibition this morning, I was filled with immense pride as I witnessed the remarkable technological achievements of our youth. They have established and invented numerous companies and programs, showcasing their ingenuity and creativity. In conversations with several of them, I was heartened to learn that some of the digital services they have created have applications not only within Kurdistan but also throughout the region and beyond. This digital system they have developed fosters direct and enhanced communication, serving as an additional avenue to introduce Kurdistan to the world.

In closing, I would like to reiterate my gratitude to the organizers of this exhibition and to all the participating companies. I wish you continued success and safety, and may our Kurdistan always remain prosperous.

Thank you once again, and I wish you all the best in your endeavors.