Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Thursday on efforts to develop the work of the government banking sector, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.
A statement issued by Al-Sudani’s media office stated that during the meeting, a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking.
The statement explained that these recommendations will be submitted to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval.
The statement quoted Al-Sudani as saying that the issue of restructuring Rafidain Bank is the first step in the government’s banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially the committee concerned with the restructuring process.
The Prime Minister stressed the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence can be given to citizens, in addition to enhancing cooperation with local and foreign investors.
shafaq.com
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