EY tells Iraq to change public bank management teams

EY tells Iraq to change public bank management teams

Restructuring plan follows losses Mergers possible New larger bank an option Iraq is planning to change the management teams at its public banks in an attempt to improve their governance and reduce losses. The move is part of a comprehensive restructuring plan devised by the London-based consultancy firm EY which may involve mergers and the creation of a new larger state-owned bank. Iraqi prime minister Mohammed Al Sudani has ordered the reorgan…