Ministry of Finance: An expanded meeting to follow up on the restructuring of insurance companies and government banks
Ministry of Finance: An expanded meeting to follow up on the restructuring of insurance companies and government banks
2025-02-05
Finance Minister Taif Sami held an expanded meeting today, Wednesday, with the Chairman of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and control company “Ernst & Young” to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks. During the meeting, the minister indicated that the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards. She pointed out the importance of developing banking systems, strengthening internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services, according to a statement by the Ministry of Finance.
She also explained that the strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization processes, which will raise the efficiency of government banks and support the national economy.
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