INA- BAGHDAD
The Governor of the Central Bank, Ali Mohsen Al-Alaq, said on Thursday that thanks to the Prime Minister Mohamed Shia Al-Sudani's backing, the progress in the restructuring project of Rafidain Bank has been accelerated.
The bank's media office said in a statement obtained by the Iraqi News Agency (INA), that "the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired an expanded meeting to discuss the restructuring project of Rafidain Bank," pointing out that "the committee for this project included officials in the Ministry of Finance and the Central Bank, the adviser to the Prime Minister and the head of the World Bank mission in Iraq, as well as members of Ernst & Young as an expert auditor and consultant in the restructuring process."
The statement added that "the World Bank Country Manager in Iraq, Emmanuel Salinas, explained the reality of work on this project, in which he presented the opportunities available within the banking environment in Iraq and the mechanism for developing the restructuring plan in its operational and financial aspects."
Feras Kilani, an expert in the structuring project from Ernst & Young, explained that "the project has progressed very significantly since it began in September of 2024 and has currently reached 74%, and the next phase of the scope of work will be completed by the end of this month, and move to an advanced stage in this project."
The Governor stressed that "the support of the Prime Minister in this aspect positively accelerated the progress of the project, to reach important stages in the process of structuring and development in Rafidain Bank."
The Governor of the Central Bank, Ali Mohsen Al-Alaq, said on Thursday that thanks to the Prime Minister Mohamed Shia Al-Sudani's backing, the progress in the restructuring project of Rafidain Bank has been accelerated.
The bank's media office said in a statement obtained by the Iraqi News Agency (INA), that "the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired an expanded meeting to discuss the restructuring project of Rafidain Bank," pointing out that "the committee for this project included officials in the Ministry of Finance and the Central Bank, the adviser to the Prime Minister and the head of the World Bank mission in Iraq, as well as members of Ernst & Young as an expert auditor and consultant in the restructuring process."
The statement added that "the World Bank Country Manager in Iraq, Emmanuel Salinas, explained the reality of work on this project, in which he presented the opportunities available within the banking environment in Iraq and the mechanism for developing the restructuring plan in its operational and financial aspects."
Feras Kilani, an expert in the structuring project from Ernst & Young, explained that "the project has progressed very significantly since it began in September of 2024 and has currently reached 74%, and the next phase of the scope of work will be completed by the end of this month, and move to an advanced stage in this project."
The Governor stressed that "the support of the Prime Minister in this aspect positively accelerated the progress of the project, to reach important stages in the process of structuring and development in Rafidain Bank."
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