On Friday, the Kurdistan Regional Government announced that the National Bank of Iraq (NBI) had joined the initiative My Electronic Financial Account.
This initiative included participation from five banks: Ashur, Bank of Beirut, BBAC, Cihan Bank, RT Bank, and the National Bank of Iraq (BNI).
This move is part of the regional government’s ongoing attempts to broaden the scope of the Hasabe project’s activities and consequently provide more services to subscribers, beneficiaries, and staff.
This measure is part of the government’s efforts to promote healthy competition in the banking and financial services sectors, and it comes at a time when the government has stated that it would continue to give and present explanations on the fees and proposals offered by these institutions.
The Kurdistan Regional Government expects to expand its partnership with the National Bank of Iraq and other banks, and it is hoped that the electronic digital payment system will be available to citizens by the beginning of next year, encouraging and motivating other banks to join the account project.