Iraq PM Sudani says banking reforms to be accelerated

BAGHDAD, Iraq — Prime Minister Mohammed Shia' al-Sudani said Iraq will move forward with structural reforms in its banking sector, emphasizing the need to align regulations with international standards. In a statement from his office, Sudani said accelerating the approval of banking reform programs is essential to achieving financial stability and strengthening the economy. The reform package covers the restructuring of state-owned banks and tighter oversight of private lenders, according to the statement. It also includes measures to reinforce financial auditing mechanisms and improve transparency within the banking system. Sudani reiterated his commitment to advancing these reforms, which the prime minister's office said would be implemented in stages in the coming period. He described the banking overhaul as critical to Iraq's more effective integration into the global financial system.