Iraqi PM Launches Ambitious Banking Sector Reform

link to My FX Buddies Blog

If you 'd like to support My FX Buddies: ⁠⁠https://buymeacoffee.com/tishwash⁠Get a free transcript at https://rss.com/podcasts/myfxbuddies/Prime Minister Mohammed Shia' Al-Sudani addressed the Conference on Reforming the Iraqi Banking Sector on Monday, outlining an ambitious agenda to modernise Iraq's financial infrastructure and promote sustainable economic development.

Key initiatives and achievements highlighted in the Prime Minister's address include:

• Implementation of a three-year national budget, enabling long-term planning and strategic investment in health, education, and infrastructure.
• Efforts to diversify revenue sources by automating customs with the Automated System for Customs Data (ASYCUDA) system and improving tax systems, resulting in a 128% increase in customs revenues and 22% rise in tax revenues.
• Structural reforms of Rafidain, Rasheed, Industrial, and Agricultural Banks, supported by an international consultancy firm.