Rasheed Bank has been given approval to hire Ernst & Young (EY) to carry out financial audits and oversight work.
The decision was made during a Cabinet meeting led by Prime Minister Mohammed Shia Al-Sudani on Tuesday.
This step is part of a wider plan to reform Iraq’s banking sector. The audit work will help support and track the restructuring of both Rasheed Bank and Rafidain Bank.
Officials say the goal is clear: improve transparency, strengthen how banks are managed, and bring the system closer to international standards.
In simple terms, it’s another move toward cleaning up and modernizing Iraq’s banking system.
