Economic Update – Baghdad
The “My Account” platform has officially announced the initiation of January salary disbursements for employees in the Kurdistan Region through its digital system.
The team overseeing the “My Account” platform confirmed that salary distributions will commence today across all governorates of the Kurdistan Region. Beneficiaries can expect their salaries to be transferred to their bank accounts starting at 8:00 AM.
According to the statement, approximately 275,000 individuals will benefit from this disbursement process. This includes around 216,500 civil employees and approximately 56,700 members of the Peshmerga forces, all of whom will be able to withdraw their salaries via over 550 ATMs, which are strategically located across more than 200 sites throughout the region.
Moreover, the number of registered employees on the “My Account” platform has reached 720,000 out of nearly one million total employees receiving salaries from the Kurdistan Regional Government. Notably, 370,000 bank cards have already been distributed to service beneficiaries.
In tandem, the Ministry of Finance and Economy for the Kurdistan Region announced that January salaries have been successfully deposited into the respective bank accounts of beneficiaries enrolled in the “My Account” project.
The statement further indicated that technical teams are prepared to assist employees in the withdrawal of their salaries.
This initiative aligns with the Kurdistan Regional Government’s broader strategy to drive digital transformation in salary management, aimed at decreasing reliance on cash transactions, enhancing transparency, and streamlining the withdrawal process for beneficiaries. This reflects a significant trend towards adopting digital banking services in the region.
The “My Account” project is a critical component of the Kurdistan Regional Government’s efforts to modernize banking infrastructure, focusing on improving salary administration and facilitating smoother financial transactions for employees. This project aims to alleviate congestion at traditional salary distribution points while promoting the use of electronic banking services, thereby contributing to a more extensive shift towards digitization of governmental operations in the region.
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