The Prime Minister listens to offers to establish a new bank under the name Rafidain First.
The Prime Minister listens to offers to establish a new bank under the name Rafidain First.
2025-03-23
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to follow up on reform measures at Rafidain and Rashid banks, attended by representatives from Ernst & Young. The meeting also reviewed the progress made in the government’s banking reform project to restructure and develop the two banks. Discussions focused on reviewing their internal regulations to ensure they align with international standards and the objectives of the banking reforms.
The two banks’ debts and repayment mechanisms were also discussed, in addition to the measures taken to train their staff.
In this regard, the Prime Minister directed the continuation of the reform process at the two banks, and stressed the need 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,” which was approved during the Cabinet session held on January 13.
The new bank adopts a different vision, embracing modern technologies and international standards that help implement the government’s financial and banking reform objectives, thus contributing to strengthening the country’s economic path and development.
At the conclusion of the meeting, Ernst & Young presented a report reviewing the financial and technical offers for the project to establish the First Rafidain Bank.
burathanews.com
