Al-Sudani Instructs Government Bank Directors to Present Development Plan Within a Month

 Baghdad-INA

As part of Al-sudani commitment to banking reform, Prime Minister Mohammed S. Al-Sudani chaired a meeting with the Minister of Finance, the Governor of the Central Bank of Iraq, and government bank directors. 

The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA) ,"The meeting focused on the administrative and banking reform measures initiated by the government, highlighting their progress as a top priority within the comprehensive economic reform agenda."

Al-sudani directed," all government bank directors to submit a plan within one month for the enhancement of banking operations this plan should focus on optimizing financial, human, and technical resources, transitioning from paper to electronic processes, expanding electronic payment services, formulating a comprehensive approach for credit facilities and loans, and improving work mechanisms with enhanced control and oversight tools.".

The Prime Minister affirmed," that bank directors will undergo performance evaluations based on their execution of the plan and the level of accomplishment."

The Prime Minister emphasized," that the government's genuine commitment to reform is centered on banking reform. Bold decisions will be taken to implement this reform, aiming to enhance the investment environment and foster the development of both public and private sectors."

The meeting delved into the execution of a comprehensive banking system, utilizing advanced electronic programs and modern technology for all banking transactions. The discussion also covered a development plan presented by Ernst & Young for the restructuring of Rafidain Bank. The aim is to ensure its progress and the delivery of a comprehensive set of banking services to citizens and companies, aligning with international standards. In this context, the Prime Minister directed bank departments to engage international expertise by contracting with specialized consultants in banking and finance.