Ernst & Young Consults on Restructuring of Iraqi State-Owned Banks

Prime Minister Mohammed S. Al-Sudani has chaired a meeting with representatives from Ernst & Young (EY) to discuss the development of state-owned banks, focusing on the restructuring of Al Rafidain Bank and Al-Rasheed Bank.

The restructuring plan includes comprehensive technical and administrative reforms aimed at enhancing banking services for citizens and businesses. The Prime Minister confirmed that the restructuring of Al-Rafidain Bank is nearing completion, with implementation to commence shortly, adhering to international standards.

Al-Sudani emphasised that existing banking structures are insufficient to address current challenges and foster openness. The reforms are designed to modernise operations, ensuring the banks meet global benchmarks and deliver integrated services efficiently.