{Baghdad: Al Furat News} The Minister of Finance and Economy of the Kurdistan Regional Government of Iraq announced that there is no money in the pension fund in the region, and the money was spent on the employees ’salaries during the financial crisis.

Yesterday, the Kurdistan Parliament approved the second reading of the reform bill.

Finance Minister Awat Sheikh Janab said, “The pension fund in the Kurdistan region was established in 2006 by a law for the Kurdistan Parliament, where 6% of all employee salaries were saved and placed in the fund, but due to the financial crisis that swept the Kurdistan region, the fund was emptied of that money.

He added, “In the Kurdistan region, 9 retirement laws are worked with by the Ministry of Finance and they want, through the Reform Law, to create a bank account for employees and through it all employees’ amounts of retirement and savings are put on this account.”

News Source: https://alforatnews.com/