Al-Sudani Affirms: Banking Reform In Iraq Has Become A Model Of Commitment And Trust
Baghdad /NINA/-Prime Minister Mohammed Shia al-Sudani confirmed significant progress in implementing compliance and anti-money laundering standards.
A statement from his media office stated that al-Sudani received a delegation from KPMG, a global auditing and financial consulting firm, on Tuesday. They reviewed the company's cooperation with the Iraqi banking sector, as part of the government's efforts to enhance the transparency of this sector and sustainably improve Iraq's financial reputation.
Al-Sudani indicated that banking reform in Iraq has become a model of commitment and trust, and praised the role played by financial audit firms in consolidating governance and professionalism in this sector. He stressed that the government views a strategic partnership with these firms as a way to enhance the credibility of Iraqi state institutions before the international financial and economic community.
According to the statement, the Prime Minister indicated that Iraq is proceeding with the implementation of the government's financial and banking reform program, which has contributed to improving the financial rating, increasing international partners' confidence in Iraqi banks, and achieving significant progress in implementing compliance and anti-money laundering standards, as well as transitioning to modern electronic reporting.
Al-Sudani highlighted the importance of leveraging the company's expertise in restructuring government-owned companies and improving their operational efficiency, public debt management issues, and providing specialized technical and legal consultations in drafting contracts for major strategic projects.
He affirmed the government's support for the steps taken by the Central Bank of Iraq and the Trade Bank of Iraq in continuing technical coordination with KPMG to ensure the rapid completion of audit tasks, adherence to international standards, and the timetable for issuing final accounts for banks. He emphasized that the government considers transparency and financial accountability to be a fundamental pillar in building a modern national economy./ End
