At a Glance

• 922,000 employees receive July salaries digitally via MyAccount.
• Over 950,000 registered users, representing 96% of the KRG workforce.
• August 31 is the final date to collect bank cards before Baghdad stops cash payouts.
• A shortage of 212 ATMs leaves a strained ratio of 1 machine per 1,298 users.

Salary distribution for 922,000 digital bank card beneficiaries is set to commence this Tuesday, following the release of the July payroll schedule for Kurdistan Region public sector employees.

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 Key Statements and Focus Areas

• According to official data from the government's digital financial initiative, MyAccount, more than 950,000 beneficiaries have registered, 950,000 bank cards have been distributed, and 922,000 individuals now receive their salaries electronically.
• While operational standards require one automated teller machine (ATM) per 1,000 beneficiaries, a current shortfall exists, complicating localized cash access.

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The 922,000 payroll beneficiaries of the Kurdistan Region currently receive their salaries through 710 ATM machines, creating a ratio of one machine per 1,298 beneficiaries. 

To achieve the required ratio of one ATM per 1,000 beneficiaries, participating banks in the MyAccount project must address a deficit of 212 uninstalled machines, an infrastructure gap that frequently causes severe overcrowding at active withdrawal points.

Workforce Demographics and Regional Breakdown

• Sector Breakdown: Civil employees account for 388,000; Peshmerga and security forces total 238,000; military and civil retirees stand at 260,000; and the families and relatives of martyrs account for 37,000.
• Governorate Distribution: Regional allocations stand at 395,000 beneficiaries in Erbil Governorate, 314,000 in Slemani Governorate, 192,000 in Duhok Governorate, and 21,000 in Halabja Governorate, solidifying the grand total at 922,000.

The Ministry of Finance has designated August 31 as the absolute deadline for payroll beneficiaries to collect their MyAccount bank cards. In accordance with federal government mandates, manual cash salary disbursements will be permanently suspended after this date. 

Consequently, any individual whose payroll data is not processed through an authorized banking channel will have their salary distribution blocked by Baghdad. 

MyAccount officials emphasize that all beneficiaries must possess their cards by month's end to secure their financial entitlements.

FYI

Launched by the Kurdistan Regional Government (KRG) in early 2023 to modernize its public sector banking system, MyAccount is a digital financial transformation initiative that has now reached a 96% enrollment rate across the region's workforce. 

For the June financial cycle, 836,000 individuals received their salaries digitally. 

An additional 86,000 individuals transitioned to card payments for the July cycle, expanding the total electronic network to 922,000 active beneficiaries.

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