Monday, September 23, 2024

MILITIAMAN CC NOTES HIGHLIGHTS: Al-Sudani's Participation in UNGA and Banking Reforms , 23 SEPT

 Al-Sudani's Participation in UNGA and Banking Reforms 

  • Prime Minister Muhammad Shia Al-Sudani arrived in New York for the 79th UN General Assembly session, involving multiple speeches and sideline meetings.

  • Key discussion topics include strengthening cooperation, facing global challenges, and affirming commitments.

  • Sudani's advisor highlights that Iraq's banking system is rentier, heavily reliant on oil resources and government liquidity.

  • Comprehensive reforms are needed to transition Iraq towards a market economy, with potential assistance from Ernst & Young.

  • Privatization of two large state banks is anticipated to enable integration with the international financial system.

  • Al-Sudani announced a higher committee to align Iraqi banks with international financial standards and improve relations with global financial entities.

  • Previous discussions at the Davos meetings emphasized restoring confidence in the international financial system, spotlighting Iraq’s role.


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