Sudani directs efforts to overcome obstacles to establishing “Rafidain First Bank”
Sudani directs efforts to overcome obstacles to establishing Rafidain First BankPrime Minister Mohammed Shia al-Sudani directed on Wednesday that obstacles be removed regarding the establishment of the new “Rafidain First Bank” project, stressing the importance of restructuring Iraqi state-owned banks.
The Prime Minister’s Media Office stated in a statement that Al-Sudani chaired a meeting yesterday to follow up on the restructuring of Al-Rafidain Bank and the establishment of the new (First Al-Rafidain Bank), in the presence of representatives of the Ernst & Young consulting firm.
The statement added that Al-Sudani listened to a detailed explanation of the latest work steps completed, all the requirements of the founding contract, laws and instructions that must be available, in addition to determining the technical and founding committee for the new bank, determining the bank’s shareholders, and all the legal aspects and the required trademark.
Al-Sudani emphasized the importance of restructuring Iraqi state-owned banks to revitalize the public banking sector, ensuring the new bank utilizes the latest digital and technological advancements to provide sophisticated financial and banking services. The Prime Minister directed officials to closely monitor the project’s progress, address any administrative or bureaucratic obstacles hindering its swift completion, and ensure the new bank becomes fully operational.
Alsabaah.iq