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An expanded meeting at the Central Bank to discuss the restructuring of Rafidain Bank
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Baghdad Today - Baghdad
The Governor of the Central Bank, Ali Mohsen Al-Alaq, confirmed today, Thursday (December 5, 2024), that the support of Prime Minister Mohammed Shia Al-Sudani accelerated the progress of the Rafidain Bank restructuring project.
The Central Bank's media office said in a statement received by "Baghdad Today" that "the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired an expanded meeting to discuss the project to restructure Rafidain Bank," indicating that "the committee for this project included officials from the Ministry of Finance and the Central Bank, the Prime Minister's advisor, and the head of the World Bank mission in Iraq, in addition to members of Ernst & Young as an expert auditor and consultant in the restructuring process."
The statement added that "the World Bank's Regional Director in Iraq, Emmanuel Salinas, explained the reality of work on this project, in which he presented the opportunities available within the banking work environment in Iraq and the mechanism for developing the restructuring plan in its operational and financial aspects."
According to the statement, the expert in the restructuring project from Ernst & Young, Firas Kilani, explained that “the project has made great progress since its inception in September 2024 and has currently reached 74%, and the next phase of the scope of work will be completed at the end of this month, moving to an advanced stage in this project.”
The governor said on the sidelines of the meeting that "the Prime Minister's support in this regard has positively accelerated the progress of the project, to reach important stages in the restructuring and development process at Rafidain Bank."
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