Iraq continues to make bold strides in its financial sector. Prime Minister Mohammed Shia Al-Sudani recently led a top-level meeting with national bank leaders. During the session, he strongly emphasized the need for immediate and practical banking reform. The Prime Minister highlighted “Iraq banking reform push” as a central theme of his economic plan.
He called on all Iraqi banks to speed up internal reforms. He demanded faster customer service processes, the use of digital tools, and better security systems. Moreover, he urged banking executives to work hard on boosting public trust. He said that people should feel confident to deposit money in local banks.
In a significant move, the Prime Minister revealed an upcoming relaunch of Rafidain Bank. This major Iraqi bank will return with a brand-new strategy. The relaunch will happen in cooperation with well-known international financial institutions. These partnerships aim to bring world-class banking practices to Iraq.
Additionally, the government has hired private auditing firms. These auditors will examine each bank’s operations in detail. Through this effort, Iraq aims to find gaps and areas for improvement. By doing so, officials believe they can create a more transparent and stable financial environment.
To further support the “Iraq banking reform push,” officials plan to simplify banking procedures. They want fewer delays and less paperwork. This change should make banking easier for individuals and businesses alike. As a result, the public may start engaging more actively with the banking system.
Banks in Iraq must also invest in up-to-date technology. According to the Prime Minister, modern banking tools are key to building efficiency. He believes that automation and digital systems will reduce errors and improve service delivery. Consequently, banks can handle more transactions and serve more customers.
The Prime Minister also stressed another vital goal—restoring public trust in banks. This mission ties directly into the broader “Iraq banking reform push.” Citizens need to feel that their money is safe. The government wants banks to be seen as reliable and secure.
Through these combined efforts, Iraq hopes to revitalize its economy. Better banks can support businesses, attract investors, and encourage long-term growth. The leadership sees banking reform as the first step in a broader transformation.