Erbil, Kurdistan Region — The MyAccount initiative is set to expand its operations, with discussions underway to onboard three additional banks by early next year. This move will bring the total number of participating banks to 11, further streamlining and accelerating banking services for users across the region.

Currently, eight banks are part of the MyAccount program, including BBAC, Cihan Bank, RT Bank, Bank of Baghdad, Iraqi Islamic Bank, National Bank of Iraq, TBI, and the International Development Bank. The addition of three more banks will mark a significant expansion of the initiative’s reach and impact, underscoring the growing momentum of public and private sector collaboration in modernizing financial services.

As part of its operational expansion, the MyAccount initiative will facilitate December salary payments for all civil servants in Erbil province. Approximately 230,000 employees will benefit from this service, enabling them to access their salaries directly through the MyAccount platform. This marks a critical step in enhancing financial accessibility and convenience for public sector employees.

Recent milestones for the initiative demonstrate its growing effectiveness. Over 191,000 civil servants received their October salaries through the platform, a figure projected to surpass 200,000 for November. The initiative’s team reported smooth salary distribution in October, with no issues related to ATM cash availability or power outages.

“There were no issues with ATM cash availability or power outages during October salary distribution. Today alone, salaries for over 8,000 higher education employees were processed through MyAccount,” the project team stated.

These developments highlight the MyAccount initiative’s role as a transformative force in the financial landscape of the Kurdistan Region. The initiative’s goal is to modernize financial systems, increase efficiency, and improve convenience for civil servants and other users.

With the expected onboarding of three additional banks, MyAccount’s influence is set to grow, enabling more comprehensive access to streamlined financial services. The initiative’s progress represents a broader push toward modernization and enhanced financial inclusion in the Kurdistan Region, with the public and private sectors working together to advance banking and payment systems.

The MyAccount program’s success is seen as a model for how digital platforms can drive financial sector innovation, reduce administrative burdens, and improve service delivery. As the initiative continues to expand, it is poised to play an increasingly pivotal role in shaping the future of financial services in the Kurdistan Region.