The National Bank of Iraq (NBI) has joined the My Electronic Financial Account project, according to an announcement by the Kurdistan Regional Government on Friday.
The project now includes participation from the following five banks: Ashur, Bank of Beirut, BBAC, Cihan Bank, RT Bank, and the National Bank of Iraq (BNI).
This step is part of the regional government’s ongoing efforts to expand the scope of the Hasabe project, providing more services to subscribers, beneficiaries, and employees.
The government aims to promote healthy competition in the banking and financial services sector. It has indicated that it will provide further clarifications about the fees and offers submitted by these banks. This will help ensure transparency and fairness in the industry.
The Kurdistan Regional Government plans to strengthen its partnership with the National Bank of Iraq and other banks. It is expected that the electronic digital payment system will be rolled out for citizens at the start of next year, which will encourage other banks to participate in the project. This move aims to boost the use of digital payments and improve financial inclusion for citizens in the region.
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