Kurdistan's "My Account" banking system to offer loans to employees

Shafaq News/ On Sunday, Awat Sheikh Janab Nuri, the Minister of Finance and Economy for the Kurdistan Region, announced that the new "My Account (Hisabi)" banking system "will provide advances and loans of at least 15 million IQD ($11K) to employees who have their salaries deposited in this account."

According to a statement from the Ministry of Finance and Economy, Minister Nuri explained that "it is expected that most employees receiving salaries will enroll in this system by the end of the year."

On Tuesday, September 3rd, Kurdistan Regional Prime Minister Masrour Barzani described the Region's banking system as "stronger and more effective," noting that 500,000 public sector workers have already been integrated into the "Hesabi" system for salary and financial disbursements.

Notably, the "My Account" project, launched by the Kurdish Government under PM Masrour Barzani, modernizes employee financial services, offering over 19 monthly banking services, including salary payments and loans, for 2500 IQD.

Supported by the Central Bank of Iraq, it aims to integrate all employees by the end of 2024, enhance transparency, and combat corruption, contributing to economic development in the Region.

Employees can collect their salaries from various payment centers across the Region without needing to visit banks. The project aims to reduce cash dependency and improve the efficiency and security of payment processes.