PM: Restructuring government banks to ensure the availability of capabilities and openness with global specifications, 10 JAN

 PM: Restructuring government banks to ensure the availability of capabilities and openness with global specifications

Baghdad - INA

Prime Minister Mohammed Shia Al-Sudani confirmed, today, Thursday, that government banks with their current structures are unable to open up and address problems, indicating, therefore, they were restructured in a way that ensures the availability of all capabilities and openness with modern global technical specifications.

The Prime Minister's media office said in a statement - received by the Iraqi News Agency (INA): "Prime Minister Mohammed Shia Al-Sudani chaired a special meeting to discuss the development of the work of government banks, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting."

The statement added, "The Prime Minister was briefed on the plan for the restructuring project of Al-Rasheed and Al-Rafidain Banks, and the technical and administrative procedures related to the project, which includes a comprehensive review and structural administrative reforms to provide integrated banking services to citizens and companies."

The Prime Minister explained - according to the statement - that "the completion rate of the project to restructure Rafidain Bank has reached its final stages", stressing "its entry into force within the next few days, within the framework of a plan that has been studied and implemented according to the established standards and specifications". Al-Sudani added that "government banks with their current structures are unable to open up and address the problems, and for this reason, they have been restructured in a way that ensures the availability of all capabilities and openness with modern global technical specifications".