Peregraf - The Kurdistan Regional Government on Tuesday launched e-Psule, a new digital payment platform aimed at modernizing the Region’s banking and public finance systems, as part of broader efforts to reduce cash transactions and expand financial transparency.
Prime Minister Masrour Barzani, who inaugurated the platform at an official ceremony on Mount Korek attended by Central Bank of Iraq Governor Ali al-Alaq, described the initiative as a milestone for the Kurdistan Region and a model that could be expanded nationwide.
The platform enables citizens to pay government bills electronically through participating banks and digital wallets, eliminating the need for cash-based payments. Officials said the system is designed to improve efficiency, strengthen links between citizens, businesses, and state institutions, and provide clearer oversight of public revenues and expenditures.
Barzani said the move toward digital payments would enhance transparency and accountability, adding that modern financial systems are essential for sustainable economic governance. He stressed that digital infrastructure must be supported by widespread access to banking services, noting that ensuring every citizen holds a bank account was a foundational step in the reform process.
Central Bank Governor Ali al-Alaq welcomed the initiative, calling payment digitalization a core pillar of economic and financial reform in Iraq. He emphasized that progress in this sector cannot be achieved without close coordination between federal institutions and the Kurdistan Region.
The e-Psule platform currently supports the payment of electricity bills, including outstanding dues and accumulated debts, with plans to expand to additional services. Participating financial institutions include Cihan Bank, First Iraqi Bank, and the National Bank of Iraq, alongside digital wallets such as Fastpay, AsiaPay, and Nass Wallet. Officials said more banks and payment providers are expected to join in coming phases.
The launch builds on earlier KRG reforms such as MyAccount, a digital payroll system through which more than 800,000 public-sector employees and beneficiaries now receive their salaries electronically.
KRG officials say e-Psule is a key step toward establishing a cashless economy in the Kurdistan Region, aligning local financial reforms with broader national efforts to modernize Iraq’s banking sector.