Outcomes of the Sudanese meeting on the reform of the Rafidain and Rashid banks
Economy News – Baghdad
Prime Minister Mohammed Shia Al-Sudani chaired on Sunday a meeting dedicated to following up the procedures for reforming the Rafidain and Rashid banks in the presence of representatives of Ernst and Young.
The meeting witnessed the review of the stages of work on the subject of banking reform adopted by the government to structure and develop the Rafidain and Rashid Banks, and discussed the reconsideration of their internal regulations in accordance with international standards, and the objectives of banking reforms, as well as discussing the file of the debts of the two banks and the mechanisms for their repayment, and the measures taken to train the cadres working in them. In this regard, the Prime Minister directed the continuation of the reform process of the two banks, and the development of 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 in the name of Rafidain I Bank, which was approved at the Council of Ministers session held on January 13, with a different vision that adopts modern technologies and international standards that help implement government targets in financial and banking reform, which is reflected in the economic track and development movement in the country.
Ernst & Young submitted a report reviewing the financial and technical offers of the first Rafidain Bank establishment project.
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