Iraq reached deal with Ernst & Young to restructure insurance firms
Baghdad (IraqiNews.com) – The Iraqi government has concluded a deal with Ernst & Young, a multinational professional services network and a major accounting firm, to evaluate and offer suggestions on the performance of government insurance businesses connected with the Ministry of Finance.
In a statement to the state-run news agency (INA), the Iraqi Minister of Finance, Taif Sami, explained that the company's responsibility would be to offer technical advice to the ministry on the merger, reorganization, or improvement of these enterprises' existing performance.
Sami mentioned that the Ministry of Finance aims to improve the performance of government insurance businesses in line with worldwide best practices and standards.
As part of its economic reform agenda, the Iraqi government agreed on Monday to negotiate agreements with two multinational corporations to help increase the country's credit rating.
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, has directed his government to negotiate with a firm specializing in international law and global economics to provide consulting services to the Trade Bank of Iraq (TBI), as well as another specializing in public relations to improve Iraq's credit rating.
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