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The Central Bank in Erbil debunks fears and speculations about the localization of salaries in the region
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Baghdad Today-Erbil
The Director of the Central Bank branch in Erbil, Kazem Namiq, confirmed today, Friday (July 5, 2024), that the bank is the one supervising the process of localizing salaries in the region, and not any other party .
Namiq said in an interview with "Baghdad Today" that "the Central Bank of Iraq is the one supervising the process of localizing salaries for all banks in all governorates and institutions, including the Kurdistan Region ."
He added, "The Central Bank relies on the decisions of the Federal Cabinet, Decision No. 313 of 2016, and Decision No. 281 of 2017, in implementing this decision."
There are major concerns, objections and problems regarding the issue of localizing salaries of Kurdistan Region employees and the possibility of the regional government intervening and benefiting from it, especially with the recent clarification issued by the Federal Supreme Court, which confirmed that its decision regarding localization includes all banks licensed by the Central Bank operating in the Kurdistan Region.
Resolution No. (313) of 2016 stipulates the implementation of the project to localize employees’ salaries and receive them through the electronic card issued by the bank, while Resolution No. 281 of 2017 stipulates that the employee may choose a bank from among the banks approved by the Central Bank of Iraq in the process of localizing salaries to open a bank account in preparation for receiving his salary through the account electronically using a bank card.
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