On Tuesday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani asked the directors of government banks to present a plan to enhance the banks’ activities within one month.
According to his media office, Al-Sudani chaired a meeting this morning with the Minister of Finance, the Governor of the Central Bank, and the directors of government banks, during which the work mechanisms and procedures achieved in the administrative and banking reform, which the government has begun to implement, were followed up on and formed. One of the work goals incorporated into the country’s overall economic transformation.
According to the statement, Al-Sudani directed the directors of all government banks to prepare a plan to be presented within one month to develop the work of banks, which includes the optimal use of financial, human, and technical resources, the transition from paper to automated work, electronic dealing with all banking activities, the expansion of electronic payment services, and the development of a comprehensive vision for banks. In awarding credit and loans, as well as establishing work processes, such as control and supervision instruments.
According to the statement, Al-Sudani confirmed that bank managers would be evaluated based on how well they implement the strategy and how much they achieve.
The Prime Minister emphasized that the real reform sought by the government is based on banking reform, and that the government is determined to take bold decisions in order to implement this reform in a way that contributes to improving the investment environment and developing the work of the public and private sectors.
The meeting saw a discussion about the implementation of the comprehensive banking system, which will use advanced electronic programs and modern technology in all banking transactions, as well as a discussion about the development plan presented by the international company (Ernst & Young) about the restructuring of Rafidain Bank, which will ensure the development of its business and the provision of a package of integrated banking services to citizens.