Advisor to the Prime Minister Reveals Plan to Merge Rafidain and Rasheed Banks
Economy Yesterday, 6:26 PM Baghdad – INA Advisor to the Prime Minister and Executive Director of the Reform Management Cell, Amer Al-Adhadh, revealed plans to merge Rafidain and Rasheed Banks.
While addressing the government's achievements in the field of economic reforms,
he explained the contents of the "House of Reform" project and its importance to the investment portfolio.
He also outlined the contents of the draft law on public-private partnerships, which aims
to enhance the investment environment in Iraq.
Al-Adhadh told Al-Shabaka magazine, as reported by the Iraqi News Agency (INA), in his discussion of the "House of Reform" project, "This project is not merely a government program, but rather
a comprehensive roadmap aimed at achieving sustainable development through interconnected objectives,one of which is activating human capital and enhancing national competencies."
He added, "Economic reforms cannot succeed without an investment-attractive legal and regulatory environment, which is what the government is working to achieve through this project."
Regarding cooperation with the World Bank, Al-Adhadh stated, "The World Bank commended the reforms implemented by the Iraqi government,including the "House of Reform" policies that support sustainable development.
Cooperation focuses on supporting financial reforms, providing technical advice, and financial assistance to enhance the stability of the Iraqi economy and improve financial governance systems."
Al-Adhadh also noted that "the government has made significant progress in preparing the draft law on public-private partnerships, which is an essential part of the government's program.
This partnership aims to enhance cooperation between the government and the private sector, particularly in infrastructure, transportation, and energy projects, contributing to stimulating the national economy and achieving sustainable development."
Regarding the restructuring of the banking sector, Al-Adhadh revealed a plan to merge Rafidain and
Rasheed Banks into a single entity with the aim of
improving Iraq's credit rating and increasing international confidence in the banking sector.
He noted that an international consulting firm has been commissioned to oversee the merger process, which includes improving financial and administrative performance and developing digital infrastructure.
The Prime Minister's advisor also addressed the issue of economic diversification, stressing that
"the government has achieved a significant increase in non-oil revenues, which is
an important achievement within the strategy to diversify sources of income." He noted that
"the government is focusing on improving tax administration, developing customs duties, and
stimulating investment in non-oil sectors such as industry, agriculture, tourism, and technology,
to ensure the sustainability of these revenues."
Al-Adhadh emphasized that "the economic reforms implemented by the government contribute to strengthening the investment environment and achieving sustainable economic growth, ensuring Iraq has a stronger and more diversified financial future." https://www.ina.iq/231484--.html