Sunday, January 12, 2025

CRYPTO TRADER : Birth of a new banking entity in Iraq, 12 JAN

 CRYPTO TRADER

Birth of a new banking entity in Iraq.. A government advisor reveals the details .

--

The financial advisor {Economic: Al Furat News} to the Prime Minister, Mazhar Muhammad Salih, revealed a study being conducted by a global consulting firm, commissioned by the state, to restructure Rafidain and Rashid Banks, which constitute 85% of the banking market in .

the country Saleh explained to Al Furat News Agency that "the two banks suffer from a historical legacy of challenges, which requires a comprehensive reform plan to reposition them within the map ".of effective and efficient banking work Saleh added, 

"The study aims to establish a new banking entity specializing in government banking operations, to meet the government's needs exclusively. This entity will contribute to achieving the goals of the unified treasury account, which is a crucial tool for regulating ".cash flows for public finances He pointed out that "the study focuses on

evaluating the legal status of the two banks, including property rights, evaluating assets and

liabilities, and studying the requirements of a strategic partner if necessary, with a focus on

developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking ".market

He stressed that "the structural reform also aims to enhance the integration of the two

banks into the national banking market and enable them to expand into global financial

markets, especially in the areas of trade and ".investment financing for the private sector

He added that "the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus .on digital payments

He concluded by saying: "The study is expected


No comments:

Post a Comment