Baghdad Today – Baghdad
The Ministry of Finance revealed on Wednesday, February 5, 2025, a meeting to follow up on the restructuring procedures of Rafidain Banks, Al-Rashid and insurance companies.
The ministry said in a statement received by Baghdad Today that “Minister of Finance Taif Sami, chaired on Wednesday, an expanded meeting with the head of the Insurance Bureau and the directors of government banks, insurance companies and the International Auditing and Control Company “Ernst & Young” to follow up on the measures taken in the implementation of restructuring of insurance companies and government banks, led by Rafidain and Al-Rasheed Banks.
During the meeting, the minister pointed out that restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards. She pointed to the importance of developing banking systems, strengthening internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services.
Sami also indicated that the strategic plan will include the introduction of modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from international expertise, in addition to setting specific time frames for the implementation of modernization operations, in order to raise the efficiency of government banks and support the national economy.