On Sunday, Iraqi Prime Minister Muhammed Shiaa Al-Sudani chaired a meeting to discuss banking reform procedures and ordered the simplification of all banking procedures. He also directed the preparation of a proposed list of facilities to be presented within a week.
A statement from the media office of Muhammad Shia’ Al-Sudani announced that the Prime Minister chaired a meeting on Sunday evening with the Governor of the Central Bank and directors of government banks. The purpose of the meeting was to discuss the procedures and mechanisms required to implement financial and administrative reforms in the financial and banking sectors. Banking reform is a crucial step for the government’s economic and financial reform efforts, and it is part of their overall executive approach.
Al-Sudani emphasized that financial reform is not merely a slogan, but rather a set of principles and actions that the government is committed to implementing without delay. The government is prepared to confront all challenges and obstacles that may hinder the execution of well-planned and systematic reform initiatives.
The statement revealed that the Prime Minister has instructed the simplification of all banking procedures. Additionally, a proposed list of simplified facilities and procedures must be prepared within a week. The statement also requires a summary of the obstacles hindering the banking reform process, as well as feasible solutions to overcome the traditional contexts that have hindered the government’s goal of developing this vital economic and service sector.