He stressed the need to finalize the procedures for developing the work of Rafidain Bank...

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[size=52]He stressed the need to finalize the procedures for developing the work of Rafidain Bank...[/size]

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2024/07/12
Al-Sudani directs the establishment of the "Unified Retirement Platform" and diversification of the Retirement Fund's investments
Hussein Al-Saadi:
Prime Minister Mohammed Shia Al-Sudani directed the establishment of the (Unified Retirement Platform) and diversification of the Retirement Fund's investments, and while stressing the need to resolve the procedures for developing the work of Rafidain Bank, he stressed the importance of resolving the procedures for developing the work of Rafidain Bank. The
Prime Minister's media office stated in a statement: Prime Minister Mohammed Shia Al-Sudani chaired a meeting to follow up on the work of the Retirement Fund in the presence of the Minister of Finance, the Chairman of the Retirement Authority, and the Director General of the Retirement Fund. According to the statement, Al-Sudani reviewed the study prepared by a specialized team from the Advisory Board regarding the work of the Retirement Fund, and reaching an integrated vision to improve the reality of the services provided, in terms of securing the appropriate building, and developing the infrastructure of electronic systems. The obstacles facing the work of the Fund and the recommendations taken to address them were also explained. The Prime Minister stressed that the citizen evaluates the performance of the state and its institutions, according to the services provided to him, especially those who have spent many years in the job and paid retirement deductions, which requires improving the services provided For retirees and alleviate their suffering, as well as finding ways to sustain the Fund's funds. Al-Sudani directed the Board of Directors of the Retirement Fund to seek the assistance of experts and consultants specialized in the field of investment development, and to prepare a strategic plan that works to diversify the Fund's investment basket, and to identify available investment opportunities and transform them into profitable projects, in a way that ensures increasing the Fund's income, and benefiting from the experiences of advanced countries in this regard, as well as providing the Fund with a group of specialized employees. He continued: He also directed the preparation of an executive action plan to automate all services provided to retirees and beneficiaries according to a timetable, and to create an application (the Unified Retirement Platform), and sub-platforms for all government departments; In order to overcome routine and bureaucracy, facilitate the completion of administrative and financial procedures related to the collection of retirement deductions and referral to retirement, complete the internal system of the fund and implement the instructions of the Retirement Law. Meanwhile, the media office of the Prime Minister said in a statement received by “Al-Zawraa”: “Prime Minister Mohammed Shia Al-Sudani chaired a special meeting to develop the work of government banks, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.” He added that “he reviewed the technical and administrative procedures related to the Rafidain Bank development project, which were taken during the period following the signing of the contract with the company specialized in structuring and developing work in the banking sector.” The Prime Minister stressed “the need to continue intensive meetings between the Higher Committee concerned with the project, which includes the Central Bank of Iraq and government banks, and the consulting company, in order to resolve all matters related to developing the work of Rafidain Bank.” It is noteworthy that the Rafidain Bank development plan includes a comprehensive review and evaluation of the bank’s work, and implementing structural administrative reforms, aiming to provide a package of integrated banking services to citizens and companies, in which advanced electronic programs and modern technology are adopted in All banking transactions, optimal use of human and technical resources, and transition to automated work, which helps the bank’s ability to meet global banking requirements.[/size]
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