MP: Iraq Will Not Deposit Salaries in Private Banks

Economy 02:33 PM - 2024-10-11

MP Dr. Narmin Maruf.

An Iraqi Parliament member affirmed that the government is unwilling to deposit the salaries of civil servants in the Kurdistan Region into private banks, insisting that the bank must be state-owned.

Dr. Narmin Maruf, a member of the Patriotic Union of Kurdistan (PUK) bloc in the Iraqi Parliament, told PUKMEDIA: "Despite the launch of the 'My Account' project by the Kurdistan Regional Government, the Iraqi Ministry of Finance has yet to endorse it."

"The Iraqi government is unwilling to place its funds in private banks following legal and accounting protocols but deposits them in public banks and will only send salary funds to a state-owned account," she stated.

To resolve the salary dispute between Baghdad and Erbil, the Federal Court has decided to nationalise the Kurdistan Region's civil servant salaries and distribute them through Iraqi state-owned banks, removing deceased individuals, duplicates, and fake names from the KRG salary list. However, Kurdistan Region's Prime Minister Masrour Barzani announced a banking system for disbursing the salaries of the Kurdistan Region's civil servants under the name of ‘My Account’.

‘My Account’ is entirely at odds with the Federal Court's order, and the banks within the system are private and lack guarantees; hence, in the event of bankruptcy, civil servants' salaries will be lost.

 

PUKMEDIA