The Kurdistan Regional Government (KRG) on Wednesday announced that the MyAccount financial inclusion initiative had entered a strategic partnership with Visa, a world leader in digital payments.

As part of this partnership, Visa will work with the KRG and issuers on awareness campaigns and collaborate with acquirers to expand the use of digital payments.

Visa will also organize workshops for the public on the benefits of financial inclusion, sharing global best practices and insights that align with the KRG’s vision for a modern financial system.

Additionally, it will help develop and launch campaigns to educate consumers on the benefits of seamless and secure digital payments.

“Financial literacy and inclusion are pivotal for economic empowerment and development. By equipping individuals with the knowledge and tools to manage their finances effectively, we are laying the foundation for a more resilient and prosperous society,” Mario Makary, Vice President and General Manager for the Levant Region at Visa, said.

“Visa is committed to playing a significant role in this transformative journey across Kurdistan, bringing our global expertise to foster a secure and thriving digital economy.”

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The KRG’s MyAccount project aims to utilize advanced digital technologies to effectively and efficiently accelerate bank account creation for government employees.

Nearly 750,000 beneficiaries on the KRG’s payroll have registered for bank accounts under the MyAccount initiative.