Visa Partnership to Promote Financial Inclusion in Kurdistan

The KRG's financial inclusion initiative 'MyAccount' has entered a strategic partnership with Visa, a world leader in digital payments, marking a key milestone in advancing digital payment solutions and promoting financial inclusion in the Kurdistan Region of Iraq.

As part of this partnership, Visa will work with the KRG (Kurdistan Regional Government) and issuers on awareness campaigns and collaborate with acquirers to expand the use of digital payments.

Visa will also organize workshops for the public on the benefits of financial inclusion, sharing global best practices and insights that align with the KRG's vision for a modern financial system. Leveraging its global expertise, Visa will help develop and launch campaigns to educate consumers on the benefits of seamless and secure digital payments.

Mario Makary, Vice President and General Manager for the Levant Region at Visa, commented on the partnership, saying:

"Financial literacy and inclusion are pivotal for economic empowerment and development. By equipping individuals with the knowledge and tools to manage their finances effectively, we are laying the foundation for a more resilient and prosperous society. Visa is committed to playing a significant role in this transformative journey across Kurdistan, bringing our global expertise to foster a secure and thriving digital economy."

This partnership underscores a shared commitment to reducing reliance on cash, enhancing access to financial services, and building a more inclusive and digitally empowered economy.

To date, nearly 750,000 beneficiaries on the KRG's payroll have registered for bank accounts under the MyAccount initiative.