KRG unveils the advantages of the new "My Account" Payroll System
Shafaq News/ The Kurdistan Region Government (KRG) shed light on the "My Account" payroll system's advantages, assuring that civil servants they have more control on their balances with lesser fees compared to other options.
In a statement, the 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 to the My Account system is free, unlike domiciliation, which may charge up to 25,000 Iraqi dinars depending on the bank," the statement said. "My Account utilizes debit cards that can be 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 MyAccount. 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.
