(MENAFN- Iraq Business News) By John Lee.
The Kurdistan Regional Government (KRG) has announced that the Iraqi Islamic Bank (IIB) has formally joined the 'My Account' financial inclusion initiative, alongside BBAC, Cihan, NBI and RT.
In a statement on Tuesday, the KRG said it expects other major banks to join by the end of the month.
It continues:
"To date, more than 240,000 bank accounts have been created for KRG beneficiaries, with over 120,000 debit cards delivered. The partnerships with the banks have already led to a significant increase in the availability of ATMs. With registrations now available across the Kurdistan Region, the project remains on schedule to onboard more than one million KRG beneficiaries by the end of the year.
"The growing number of banks in the programme is part of an effort to provide more banking choices, products and services, and to promote healthy competition in the financial services sector. The banks will also receive additional support to increase their branch network across the Kurdistan Region.
"The KRG expects partnerships with all the participating banks to grow significantly as other digital payments emerge later this year.
"For more information visit the official website: "
(Source: KRG)
The post Iraqi Islamic Bank (IIB) joins 'My Account' Initiative first appeared on Iraq Business News .
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