Baghdad: Prime Minister Mohammed Shia' al-Sudani emphasized the importance of restructuring Iraqi state-owned banks to revitalize the public banking sector. During a meeting he chaired on Wednesday to follow up on the restructuring of Rafidain Bank and the establishment of the new "Rafidain Bank I," attended by representatives of the consulting firm Ernst and Young, al-Sudani received a detailed briefing on the latest completed steps, all requirements of the articles of incorporation, the necessary laws and regulations, the formation of the new bank's technical and founding committee, the identification of the bank's shareholders, and all legal aspects and the required brand.

According to National Iraqi News Agency, he emphasized the importance of restructuring Iraqi state-owned banks to revitalize the public banking sector. He stressed that the new bank should utilize the latest digital and technological advancements to provide sophisticated financial and banking services.

He also directed officials to follow up on the project's progress, address any administrative or bureaucratic obstacles hindering its swift completion, and ensure the new bank is fully operational.