Al-Sudani chairs a special meeting to develop Rafidain Bank within a comprehensive reform plan for the banking sector
Al-Sudani chairs a special meeting to develop Rafidain Bank within a comprehensive reform plan for the banking sector
2023-11-27
On Monday morning, Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting that included representatives of the international company Ernst & Young, which specializes in auditing and financial consulting, in the presence of the Minister of Finance, the Governor of the Central Bank, the Director General of Rafidain Bank, and advisors to the Prime Minister.
The meeting discussed, according to a statement by the Sudanese media office, the plan prepared for banking reform, and starting with government banks, which represent 80% of the banking sector in Iraq.
The statement explained that: “The implementation of the Rafidain Bank development plan will begin, as a first stage, within a studied reform process, which falls within comprehensive economic reforms that constituted a priority for the government in its executive program.”
The global company Ernst & Young presented its vision and the axes of the plan it developed to reform the Rafidain Bank, which requires eight months to be implemented, and includes a comprehensive review and evaluation of the bank’s work, and the implementation of structural administrative reforms, which include providing a package of integrated banking services to citizens and companies, in a way that contributes to achieving To a bank capable of meeting the requirements of the global banking situation. The reforms also include the adoption of advanced electronic programs, modern technology in all banking transactions, the optimal use of human and technical resources, and the transition to automated work.
The Prime Minister directed the formation of a team to follow up on the process of implementing reforms with the company, with specific time frames. He also directed that periodic meetings be held to follow up on the progress achieved in a sequential manner./
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