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‘My Account’ Project Enrolls 800,000 Public Employees in Push Toward Full Banking Access
The project team confirmed that all remaining public employees across the Kurdistan Region will soon be onboarded, ensuring access to modern banking services for the entire public workforce
The Kurdistan Regional Government’s (KRG) digital financial inclusion initiative, “My Account” (Hezhmary Min), announced on Saturday that over 800,000 public sector employees have now registered in the project and obtained personal bank accounts.
According to a statement, the project team confirmed that all remaining public employees across the Kurdistan Region will soon be onboarded, ensuring access to modern banking services for the entire public workforce.
The announcement follows a significant milestone reached earlier on Thursday, when the project revealed that the salaries of thousands of employees in key ministries—including Health, Education, and Higher Education—had been successfully transferred to their personal bank accounts for the first time.
Additionally, more than 8,000 retirees in the provinces of Duhok, Erbil, and Sulaimani have now received their pensions via personal bank accounts and can access their funds through over 400 ATMs distributed across the region.
The My Account initiative is a central part of the KRG’s efforts to build a more modern and transparent financial system by shifting from cash-based to digital salary payments. It aims to empower individuals by offering broader access to financial services, improving financial literacy, and strengthening economic infrastructure.
Officials say the project offers increased financial autonomy and security, giving every salary recipient in the region the opportunity to manage their finances independently and access a wide range of banking tools previously unavailable to many. link
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June salaries will be sent soon, and a representative adds: Unless…
Iraqi parliament member Sarwa Mohammed, representing the Patriotic Union of Kurdistan (PUK), revealed that the federal government will soon send June salaries to the Kurdistan Region, barring an emergency.
“Currently, the Iraqi Ministry of Finance is reviewing the June payroll for Kurdistan Region employees,” Mohammed said in a statement followed by Al-Masry.
She added, “If there are no technical or political obstacles, and the region and Baghdad adhere to their agreement, Baghdad will send July salaries to the Kurdistan Region within a short period.”
In a related development, a source in the Kurdistan Regional Government’s Ministry of Finance and Economy announced that the ministry will send non-oil revenues to Baghdad this week. The payroll and audit balance sheets were also previously sent to the Iraqi Ministry of Finance link
Digital transformation is essential to address the liquidity crisis in Iraq.
In a move that reflects a growing awareness of the importance of financial modernization, the Prime Minister’s Financial Advisor, Dr. Mazhar Mohammed Salih, emphasized that digital transformation in financial transactions is no longer a technical option, but rather an urgent economic necessity to address liquidity challenges and achieve stability in the Iraqi financial system.
In a statement monitored by Al-Mustaqilla, Saleh noted that Iraq ranks third in the Arab world in terms of the number of bank cards issued, reflecting clear progress in developing the financial infrastructure and increasing confidence in government measures to address digital transformation.
He explained that the shift to electronic payments not only contributes to reducing reliance on cash, but also plays a pivotal role in introducing liquidity into official channels and enhancing transparency and financial oversight—essential goals for building a modern, more crisis-resistant economy.
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Despite the progress, Salih stressed that Iraq still faces significant challenges, most notably weak trust in banks, bureaucracy, and fear of oversight. He called for overcoming these obstacles by developing digital infrastructure and providing direct incentives for citizens to use electronic payment methods.
These statements come at a time when the Iraqi government is working to accelerate financial inclusion by requiring government institutions and private sector companies to adopt electronic payments, reflecting a strategic direction toward a more transparent and sustainable digital economy.
Abstract: The financial advisor’s statement indicates that digital transformation is not merely a technological development, but rather a comprehensive economic strategy aimed at addressing the structural challenges in the Iraqi financial system, which requires political will, a secure banking environment, and increased community trust. link
Source: Dinar Recaps
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