Iraq is intensifying its push for financial modernization through Iraq’s banking reform. Prime Minister Mohammed Shia al-Sudani met senior KPMG officials in Baghdad to discuss cooperation. The talks focused on deepening ties between the Iraqi banking system and the global accounting firm KPMG, known for its expertise in auditing, tax, and advisory services.
During the meeting, the Prime Minister highlighted the importance of professional financial auditing. This supports good governance and transparency. He explained that Iraq’s banking reform aims to enhance accountability and strengthen public trust in financial institutions. With international firms like KPMG, Iraq seeks to build a stable and credible financial system. This system will be capable of attracting global investors.
Furthermore, the Prime Minister emphasized that Iraq views its collaboration with such firms as a long-term strategic partnership. This relationship, he said, will help elevate the reliability and credibility of Iraq’s banking and financial institutions. Through Iraq’s banking reform, the government plans to continue implementing financial and structural changes that align with international standards.
He also discussed the progress achieved in Iraq’s financial ratings and the growing confidence of international partners in the country’s banking sector. These improvements reflect Iraq’s commitment to transparency and reform. The government has made noticeable strides in anti-money laundering efforts. It is shifting toward modern electronic reporting systems that ensure greater accuracy and accountability.
In addition, the Prime Minister called for utilizing KPMG’s expertise in key areas. He stressed the need for expert guidance in restructuring government-owned companies and improving operational efficiency. Furthermore, he highlighted the importance of tackling public debt management. He added that Iraq will continue to seek technical and legal advice from global experts. This will be important during the preparation of major investment and infrastructure contracts.
The meeting also reaffirmed government support for the Central Bank of Iraq and the Trade Bank of Iraq. Both institutions are working closely with KPMG to complete auditing projects efficiently and in full compliance with global standards.
Finally, the Prime Minister underscored that transparency, financial accountability, and reform are the foundations of a modern national economy. He stated that with consistent progress under Iraq’s banking reform, the country will strengthen investor confidence. This will ensure responsible governance and build a sustainable financial future for its people.
