Iraq’s central bank praises PM Barzani’s financial inclusion program

The goal is to move more than a million civil servants into retail banking, the premier said on Friday.

Kurdistan 24 2023/03/04 15:30

Two public employees showing their credit cards at one of the newly installed ATMs in Erbil. (Photo: KRG)

Kurdistan Iraq CBI Kurdistan Region Masrour Barzani Krg MyAccount

ERBIL (Kurdistan 24) — The Central Bank of Iraq (CBI) on Saturday thanked the Kurdistan Region Prime Minister Masrour Barzani for the financial inclusion program he recently announced, a banker told Kurdistan 24.

Ammar Khallad, the bank’s deputy governor, speaking to Kurdistan 24, described the program as “progressive and international.”

Last Tuesday, Barzani, for the first time, announced that the salaries of 850 public employees will be paid electronically, as part of the My Account initiative, which aims to digitize the government’s payment system.

The goal is to move more than a million civil servants into retail banking, the premier said on Friday.

The program also aims to establish a banking infrastructure for the cash-reliant region.

“This will greatly facilitate the lives of all citizens, enabling them to purchase and travel abroad using bank cards without the need for cash,” he said.

The pilot project will be finalized in 2025 with the goal of integrating all public service employees into the digital payment system.

Last week, Barzani also announced the first electronic visa system for the region.