Shafaq News / The Kurdistan Regional Government (KRG) announced, on Friday, that more than 25,000 government employees have received their salaries through the "My Account" project.
According to KRG’s Media and Information Department, employees with bank cards enabling them to receive their salaries via ATMs will receive their payments gradually by the end of next week.
Earlier, Kurdish Prime Minister Masrour Barzani had confirmed that one million employees would have access to banking services by the end of this year, with financial services accessibility in the Region expected to reach 35% by late 2024.
KRG shed light on the My Account payroll system's advantages, assuring that civil employees have more control over their balances with lesser fees compared to other options.
In a statement, KRG's Information and Media Department highlighted key features differentiating "My Account" (Hesabi) from the "Domiciliation" project.
"My Account", according to the statement, empowers employees to select their preferred bank, unlike domiciliation where a bank is assigned based on pre-existing agreements.
The new system includes six private banks, according to the statement. The other system involves five state-owned and 38 private banks.
"My Account" also offers free ATM withdrawals at the chosen bank. Conversely, employees who have their salaries domiciled should pay extra charges upon withdrawals through agents or ATMs.
"Enrolling in the My Account system is free, unlike Domiciliation, which may charge up to 25,000 IQD depending on the bank," the statement continued.
"My Account utilizes debit cards that can be used all over the globe, whereas the Domiciliation system typically employs, salary cards' not linked to other accounts."
Up until April, over 300,000 civil servants have already registered for My Account. KRG said it is actively expanding its ATM network to ensure convenient access for registered employees. The current count of 231 ATMs is expected to quadruple by the end of 2024.