The Director of Kurdish Studies in Kirkuk, Kamran Ali, issued an urgent directive today for Kurdish language teachers and staff to complete "MyAccount" forms at the Iraqi Trade Bank (TBI) to ensure the timely processing of their salaries through the new localization system.

This announcement, made on Tuesday, November 5, 2024, affects all supervisors, principals, teachers, and employees within Kurdish educational institutions in Kirkuk. Ali explained that the Ministries of Finance and Education have decided that salaries will now be disbursed through TBI Bank, urging school principals to notify their staff. The deadline for submitting the MyAccount form has been set for Tuesday, November 12, 2024, and principals will bear responsibility for any delays.

In his statement, Ali emphasized, “Any employee who fails to complete the MyAccount form will be accountable for any resulting changes to their salary payments.” The new arrangement aims to simplify access to banking services and prevent travel-related incidents as staff commute to areas like Chamchamal to collect their pay.

TBI Bank’s media advisor, Aqil Shwaili, also revealed plans to expand the bank’s presence in the Kurdistan Region, including new branches in Sulaymaniyah and Duhok, which are part of a recent contract with the Kurdish Regional Government under the "MyAccount" salary localization project. The project is being implemented under the guidance of Iraqi Prime Minister Mohammed Shia’ Al-Sudani and is intended to streamline salary distribution across the region.

Shwaili stated, “We currently operate one branch in the Kurdistan Region, but we are actively working to open additional branches in Sulaymaniyah and Duhok.” He noted that around 34,000 employees have already registered, with approximately 10,000 having received their MasterCards, and an additional 3,900 cards dispatched today to Erbil.

The "MyAccount" project, a strategic initiative within Kurdistan’s financial and economic framework, aims to offer accessible, secure banking services for government employees. Unlike the previous "Localization" project, MyAccount allows employees to select from six private banks and provides free cash withdrawals from designated ATMs. Account setup fees are waived, and service fees for mobile banking are capped at 2,500 IQD, ensuring affordable access to essential banking functions.

With plans for additional ATMs and increased credit options for state employees, the TBI Bank's involvement is expected to enhance financial inclusion in the Kurdistan Region, supporting economic development across various sectors.