On Tuesday, Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani announced that this week 1 million citizens on the KRG payroll will receive their salaries electronically through partner banks licensed by the Central Bank of Iraq.

“Three years ago, we promised to move the KRG’s cash-based payroll into licensed banks through the MyAccount initiative,” he said. “MyAccount was the foundational program in our commitment to expand financial inclusion. It gives citizens access to credit and modern banking services, while making it easier for the government to enable electronic payments for public services.

”The KRG’s MyAccount project aims to accelerate bank account creation for public employees in the Kurdistan Region in order to modernize the banking system as the region moves toward a cashless society.

“This has been transformational for more than 1 million citizens. MyAccount has given them greater financial independence, giving them control of their finances and access to a growing ATM network across the Kurdistan Region,” Prime Minister Barzani added.

“The days of citizens standing in long queues outside government buildings waiting for cash handouts are over. I thank our people for their patience, our partner banks for their support and investment over the last three years, and the MyAccount team for delivering this national program,” he concluded.