The Kurdistan Regional Government (KRG) has intensified efforts to finalize the establishment of Nishtiman Bank, a new financial institution designed to modernize banking services and strengthen transparency across the Kurdistan Region.
During a meeting, KRG Minister of Finance and Economy Awat Sheikh Janab instructed the bank’s supervisory committee and board of directors to speed up all remaining legal and technical procedures. Officials aim to launch the bank in the near future.
The session included Abdulhakim Khusraw and other senior officials overseeing the project. According to the Ministry of Finance and Economy, the bank has already secured an establishment license from the Central Bank of Iraq.
Officials described Nishtiman Bank as a major step in the KRG’s wider financial reform agenda. The government hopes the institution will improve administrative transparency, strengthen public confidence, and align regional banking systems with federal regulations.
During the meeting, officials confirmed that the bank secured a headquarters building in Erbil. They also reported progress in organizing the board of directors and preparing the bank’s financial and electronic infrastructure.
Minister Janab said the project holds major importance for the future of the Kurdistan Region. He stressed that the government would continue supporting the initiative because of its role in advancing reform and improving governance.
The KRG plans to open branches across all provinces and independent administrations in the region. Once operational, the bank will provide modern financial services for citizens, public employees, and businesses.
The project also reflects the government’s push toward digitization. Officials want to replace older cash-based systems with electronic financial services that improve efficiency, accountability, and transparency.
At the same time, the KRG continues broader banking reforms aimed at restructuring specialized financial institutions into a more unified network. Officials believe these reforms will strengthen investor confidence, improve financial access, and support long-term economic stability across the Kurdistan Region.