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Iraqi PM reviews Ernst & Young’s plan to restructure Rafidain Bank

Baghdad ( – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, met on Thursday with representatives of Ernst & Young and senior Iraqi officials in the financial sector to discuss the company’s plan to reorganize Rafidain Bank’s operations.

The Iraqi officials who attended the meeting included the Minister of Finance, the Governor of the Central Bank of Iraq (CBI), and the advisors to the Prime Minister, according to a statement released by the Prime Minister’s Office (PMO).

The Iraqi side made some observations on the draft plan, asking for amendments to have the plan implemented as part of the government’s agenda to reform the banking and financial sector.

The Prime Minister emphasized that the strategy must accomplish its intended aim and be adaptable, not a copy of earlier experiences.

Al-Sudani also stated that the government is prepared to offer all facilities required to accomplish restructuring and transformation, which are crucial components of the government’s objectives in banking and financial reform.

The Iraqi Prime Minister emphasized the urgency of completing the plan in order to make the needed strategy successful and produce demonstrable progress within the context of economic transformation.

Source: Iraqi News, 11. January 2024

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