KTFA

FRANK26: "MY ACCOUNT... MY NEW EXCHANGE RATE".....F26

Rush at TBI as Kurdistan speeds up “My Account” rollout

5/20 2025

Long queues formed outside the Trade Bank of Iraq (TBI) in al-Sulaymaniyah of Iraqi Kurdistan on Tuesday as public employees rushed to complete their registration for the My Account (HISABI) system.

“We arrived early this morning after being informed that the cards were ready,” said Nour al-Din Wali, a government employee from the Garmian Administration. “Without this card, we cannot receive our May salary.”

The My Account initiative—launched under Prime Minister Masrour Barzani and supported by the Central Bank of Iraq (CBI)— allows employees to freely choose among six participating private banks to open their salary accounts and gain access to over 19 monthly banking services, including loans, transfers, and payments, for a nominal fee of 2,500 IQD ($1.9).

The project complements a parallel government initiative, the “domiciliation” system, which assigns employees to specific banks based on agreements between the Ministry of Finance, accounting units, and financial institutions.

Both programs aim to reduce cash dependency, enhance payment security, and combat corruption through improved financial transparency.

The KRG has mandated that all public employees register by May 27, in line with a Federal Supreme Court decision calling for unified salary disbursement mechanisms nationwide.

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