Kurdistan Region embraces Court's salary domiciliation directive
Shafaq News/ On Tuesday, the Kurdistan Regional Government welcomed the Federal Supreme Court’s directive, that responded to the message of the Regional Prime Minister Masrour Barzani.
This directive stipulated the right of Kurdistan Region employees to perform salary domiciliation in any private or public bank, within the framework of the banks participating in this process.
The Regional Government stated that it will continue working under the instructions of the Central Bank of Iraq (CBI), noting the need for the banks participating in the “My Account” project to adhere to these instructions, ensuring that all employees are registered in this process by the end of 2024.
According to the statement, this step aims to enhance transparency and fairness in salary domiciliation, which contributes to improving banking services provided to employees of the Region.
The Kurdish Ministry of Finance and Economy affirmed that the "My Account" project offers more than 19 banking services to employees, with a monthly cost of 2500 IQD for all services.
The ministry stated that "My Account" is "a significant and strategic project for KRG, executed by PM Barzani’s Office in coordination with the Ministry of Finance and Economy, with the knowledge of the Federal Prime Minister and approval from CBI."
It further clarified that "the project's purpose is not to establish a bank but rather a comprehensive financial project aimed at providing a safe and convenient means of accessing various modern financial and banking services, including salary payments and various types of loans, thereby combating money laundering and corruption."
The statement emphasized that "the project will provide accurate and transparent data on expenditures and revenues, offering different types of loans to employees and beneficiaries in both the public and private sectors, ultimately contributing to economic development and revitalizing various sectors in the Kurdistan Region."
