Masrour Barzani launches the "My Account" initiative for employees and retirees

Kurdistan Region Prime Minister Masrour Barzani on Tuesday, February 28, 2023, announced the soft launch of a new banking initiative, “My Account.”

In his speech, Masrour Barzani stated that Today marks the soft launch of "My Account" initiative, a financial inclusion program for public sector employees, pensioners and security forces. In the coming days, we will pilot this initiative by paying salaries to nearly 850 employees of Erbil's Children and Maternity Hospital using electronic transfers to new digitally enabled bank accounts. Over the coming months, we will learn from the experience and improve the service. By June this year, we will embark on a two-year journey to digitize all payments to KRG’s employees, pensioners and security forces.

Barzani added, “My Account” will provide a safe, transparent, and convenient way for government workers and pensioners to access their salaries through a network of ATMs that will grow to cover over 1,000 locations in the Kurdistan Region. Additionally, it will offer public sector employees’ access to modern banking services, such as loans, savings products, domestic and international transfers, international cash withdrawals, and online and digital payments.

Barzani expressed his confidence that the program would modernize the banking sector, accelerate the digital transformation agenda, and grow the economy. “It will also reduce our reliance on cash transactions, increasing government efficiency and transparency.

He also explained that the “My Account” initiative is just one of many long-term goals of his government to digitize public services, increase citizen satisfaction, and facilitate ease of doing business in Kurdistan.

Masrour Barzani confirmed that the program will be expanded with new measures to enhance digital payments in the near future. Moreover, the Premier expressed his gratitude to the Ministry of Finance and Economy for their continued support in launching this initiative and driving transformative reforms forward.