Rasheed Bank & Rafidain Bank have signed a contract

The Office of the Inspector General of Iraqi Finance Ministry issued a statement that Iraqi banking system should keep pace with international technological developments. The participation of Iraqi banking business should capable to overcome Iraqi economic and financial crisis and development in the banking sector. The system should focus on supporting the financial instability by contributing with long time financial investment in agricultural and industrial sectors. The activities should be according to the industrialization concepts of banking system. The Iraqi banking system must be regulated to overcome financial problems and to provide a handsome support for Iraqi government.

RR Banks

Rafidain bank and Rasheed bank have signed a consultant contract with a growing firm for gaining and procurement of the entire banking system, but it would be initially applied for these two banks. This contract was signed to achieve the targets during the 125 working days for its completion. The Office of the Inspector General of Finance Ministry said that Iraqi banking system has been experiencing a number of issues and these issues should be resolved immediately in order to support Iraqi economic and financial sectors. The two governmental banks have signed a contract with a firm and it would support Iraqi banking system.

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