"THIS BANK RESTRUCTURING IS FOR THE MONETARY REFORM!!!". BY FRANK26, 27 JULY

KTFA

FRANK26: "THIS BANK RESTRUCTURING IS FOR THE MONETARY REFORM!!!"...........F26

Minister of Finance receives draft regulation and restructuring of Rafidain and Rashid Banks

7/25/2024

 

Baghdad - WAA -

Minister of Finance Taif Sami received today, Thursday, from the international auditing and oversight firm Ernst & Young a draft of the organization and restructuring of Rafidain and Rashid banks.

The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): "Sami chaired a meeting at the ministry's headquarters with representatives of the international auditing and oversight firm Ernst & Young," noting that "a draft was submitted by the auditing firm on organizing and restructuring Rafidain and Rashid banks, in addition to discussing the proposed plan, implementation stages, and defining the frameworks of the contract and formulating it in a manner consistent with the priorities of reform and development."
It added that "the Minister of Finance discussed with the company the work plan and the necessary steps to merge and organize a number of institutions of the Iraqi Ministry of Finance."
The Minister of Finance stressed - according to the statement - "the importance of benefiting from the expertise of solid international companies such as Ernst & Young in the field of organizing and restructuring financial institutions, noting that "the ministry aims to make Iraqi banks internationally and locally acceptable to provide better services to citizens."
She explained that "the expertise of the auditing firm will contribute to improving the efficiency and effectiveness of financial institutions, as it is expected that merging and organizing financial institutions will improve the quality of banking services provided and enhance investor confidence in the Iraqi economy."

 

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