KPMG Partners with Iraq to Strengthen Financial Transparency Efforts

Prime Minister Mohammad Al-Sudani met on Tuesday with representatives from KPMG, the global audit and financial consulting firm, to discuss the company’s ongoing cooperation with Iraq’s banking sector. The talks focused on enhancing transparency in financial operations and further consolidating Iraq’s international financial standing.

During the meeting, Prime Minister Al-Sudani underscored that Iraq’s ongoing banking reform has become a model of commitment and confidence, commending the crucial role of international auditing firms in promoting governance, transparency, and professionalism within the sector. He described the government’s cooperation with such firms as a strategic partnership that reinforces the credibility of Iraqi state institutions before the global financial community.

Highlighting Iraq’s steady progress in financial reform, the Prime Minister noted improvements in the country’s credit rating and increased international trust in Iraqi banks. He pointed to key advancements, including compliance with international standards, efforts to combat money laundering, and the adoption of modern digital financial reporting systems.

Al-Sudani also emphasised the value of KPMG’s expertise in restructuring state-owned companies, improving operational efficiency, managing public debt, and providing technical and legal advisory support for major strategic projects.

Reaffirming his government’s full backing for the Central Bank of Iraq and the Trade Bank of Iraq, the Prime Minister called for continued technical coordination with KPMG to ensure adherence to international auditing standards and timely issuance of final financial statements. He concluded by stressing that transparency and accountability remain essential pillars in building Iraq’s modern and sustainable national economy.