KTFA
FRANK26: "ERNST & YOUNG IS EXCITED ABOUT 1310... LOL!!!"......F26
The Iraqi government is listening to proposals to establish a new bank called "Rafidain First."
3/23/2025
The Iraqi government received financial and technical offers on Sunday to begin work on establishing a new bank called "Al-Rafidain First."
This came during a meeting chaired by Al-Sudani to follow up on reform measures at the Rafidain and Rashid banks, attended by representatives from Ernst & Young, according to a statement issued by Al-Sudani's media office.
The statement added that the meeting reviewed the progress made in the banking reform process, which the government has adopted to restructure and develop Rafidain and Rashid banks. It also discussed revising their internal regulations to ensure they are in line with international standards and the objectives of banking reform. It also discussed the issue of private debts in the two banks, their repayment mechanisms, and the measures taken to train their staff.
In this regard, the Prime Minister directed the two banks to continue their reform process, and for their managements to develop strategies that contribute to accelerating the reform process.
The meeting also followed up on the procedures for establishing a new bank called Rafidain First Bank.
The Council of Ministers, in a session held on January 13, approved the establishment of this bank, with a different vision that embraces modern technologies and international standards to help implement the government's financial and banking reform objectives, which will have a positive impact on the country's economic trajectory and development.
The statement indicated that Ernst & Young submitted a report in which it reviewed the financial and technical offers for the project to establish the First Rafidain Bank.
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"IRAQ MONETARY REFORM... IMPRESSIVE!!!".........F26
Outcomes of the Sudanese meeting on reforming the Rafidain and Rashid banks
3/23/2025
The meeting reviewed the progress of the banking reform process adopted by the government to restructure and develop Rafidain and Rashid banks, and discussed revising their internal regulations to be in line with international standards and the objectives of banking reforms. It also discussed the debts of the two banks and their repayment mechanisms, as well as the measures taken to train their staff. In this regard, the Prime Minister directed the continuation of the reform process for the two banks, and for their administrations to develop strategies that contribute to accelerating the reform process.
The meeting also followed up on the procedures for establishing a new bank, Rafidain First Bank, which was approved during the Cabinet session held on January 13. The bank's vision is to adopt modern technologies and international standards that will help implement the government's financial and banking reform objectives, which will have a positive impact on the country's economic trajectory and development.
Ernst & Young submitted a report reviewing the financial and technical offers for the project to establish the First Rafidain Bank.
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