International Development Bank (IDB) removed from the MyAccount programme

Erbil, Kurdistan Region (GOV.KRD) – The KRG Ministry of Finance and Economy announces that the International Development Bank (IDB) will no longer participate in the MyAccount programme, following restrictions imposed by the Central Bank of Iraq (CBI) on US dollar transactions.

The KRG beneficiaries currently assigned to IDB will be reassigned to other participating banks. Everyone affected will be contacted directly by the MyAccount call centre.

The MyAccount programme continues to operate with seven partner banks that remain fully compliant with CBI regulations and can conduct transactions in US dollars, allowing KRG’s beneficiaries to use their debit cards both inside Iraq and outside of the country.

Prime Minister Masrour Barzani announced the MyAccount initiative in February 2023 as part of the KRG’s strategy to increase financial inclusion and reduce dependence on cash. More than 900,000 beneficiaries on the public payroll have now registered.