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CBI News 04/26/2018


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 April 26, 2018
Instructions for the business continuity management system in the Iraqi banking sector in accordance with international standards ISO 22301

 

To all licensed banks (the instructions of the business continuity management system in the Iraqi banking sector in accordance with the international standards ISO 22301 ) ... Click here

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 April 26, 2018
The Central Bank holds the Arab Day of Financial Inclusion

 

The Central Bank holds the Arab Day of Financial Inclusion

The Central Bank of Iraq held the celebration of the Arab Day of Financial Inclusiveness. During this event, the principles and concept of financial inclusion were introduced.

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This celebration coincides with the celebration of the Arab Day of Financial Inclusion in all Arab countries.

The Deputy Governor of the Central Bank, Dr. Munther Abdulqader, during his speech at the celebration on the importance of financial inclusion and its application in Iraq through the provision of banks products and banking services to all segments of society. The most important of the financial inclusion strategy prepared by the financial inclusion team at this bank and its future prospects was also discussed in cooperation with some international institutions concerned.

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International Organization for Standardization

When the world agrees

 

 

Business continuity - ISO 22301 when things go seriously wrong

 

Business continuity - ISO 22301 when things go seriously wrong

 

 

By Stefan Tangen & Dave Austin on 18 June 2012

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Contingency planning and disaster recovery were largely information technology-led responses to natural disasters and terrorism that affected businesses during the 1980s and early 1990s.

There was a growing recognition, however, that this needed to become a business-led process and encompass preparing for many forms of disruption. In light of this, the discipline became known as business continuity management (BCM).

As governments and regulators began to recognize the role of business continuity in mitigating the effects of disruptive incidents on society, they increasingly sought to gain assurance that key players had appropriate business continuity arrangements in place. Similarly, businesses recognized their dependence on each other and sought assurance that key suppliers and partners would continue to provide key products and services, even when incidents occurred.

A recognized benchmark of good practice in BCM was therefore needed and several national standards sought to address this issue, including those from Australia, Singapore, the United Kingdom (UK) and the USA. In the UK, BS 25999 was introduced to provide a management systems standard to which organizations could obtain accredited certification for the first time.

When organizations operating internationally started calling for a single International Standard, ISO/TC 223, Societal security, responded by developing ISO 22301:2012, Societal security – Business continuity management systems – Requirements. The new standard is the result of significant global interest, cooperation and input.

Demonstrating good practice

ISO 22301 is a management systems standard for BCM which can be used by organizations of all sizes and types. These organizations will be able to obtain accredited certification against this standard and so demonstrate to legislators, regulators, customers, prospective customers and other interested parties that they are adhering to good practice in BCM. ISO 22301 also enables the business continuity manager to show top management that a recognized standard has been achieved.

While ISO 22301 may be used for certification and therefore includes rather short and concise requirements describing the central elements of BCM, a more extensive guidance standard (ISO 22313) is being developed to provide greater detail on each requirement in ISO 22301.

ISO 22301 may also be used within an organization to measure itself against good practice, and by auditors wishing to report to management. The influence of the standard will therefore be much greater than those who simply choose to be certified against the standard.

https://www.iso.org/news/2012/06/Ref1602.html

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The Central Bank of Iraq signs a Memorandum of Understanding with Visa International

 

The Central Bank of Iraq signs a Memorandum of Understanding with Visa International


The Central Bank of Iraq signs a Memorandum of Understanding with Visa International

The Iraqi Central Bank, represented by His Excellency Mr. Ali Mohsen Ismail, signed a memorandum of understanding with Visa International, which has granted membership to more than 16,000 financial institutions worldwide to establish the legal and regulatory framework for work in Iraq.

 Where Visa will be able to contribute to the smart ambitions set by the Central Bank of the Iraq market.

This memo helps to build a strategic partnership with Visa, which will contribute to the development of the electronic payment environment in the community in terms of technical, organizational, awareness, transfer of expertise and benefit from the innovations of the company.

Visa International, represented by Mr. Tarek Al Husseini, General Manager of Visa North Africa and Levant, and the accompanying delegation, expressed interest in the strategic direction of the Central Bank of Iraq in terms of payments and electronic systems and expressed its desire to contribute to the transfer of knowledge, development and training of cadres working in this sector through Foundation (Visa School for business development ( accepted Visa the business School )

As well as that this bank seeks to develop the market through effective competition and similar agreements will be signed with other international companies


 

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Press Release issued by the Board of Governors of Central Banks and Arab Monetary Institutions

 

Press Release issued by the Board of Governors of Central Banks and Arab Monetary Institutions

 

       

Press release

Issued by

Council of Governors of Central Banks and Arab Monetary Institutions

About

"Arab Day for Financial Inclusiveness"

April 27, 2018

The Council calls for enabling young people and entrepreneurs to access financial services

Strengthening the levels of financial inclusion in Arab countries is an important focus of the Central Bank and Arab Monetary Fund's Board of Governors, as it plays an effective role in enhancing financial stability and supporting opportunities for sustainable development and social welfare. In this context, in 2016, in light of the increasing need to increase awareness of the importance of financial inclusion and its implications for all parties in the Arab countries, the Council adopted an Arab Day for Financial Inclusion, which falls on April 27 of each year, which is celebrated this year under the slogan " Business to Financial Services ". In this context, the Council appreciates the steps and actions taken by the Arab States to promote financial coverage and reaffirms the need to integrate all sectors of society and their sectors into the formal financial system, especially youth, women and entrepreneurs, by enhancing their access and use of financial services and products To meet their needs with reasonable costs and conditions, to protect their rights and to enhance their knowledge and awareness of financial matters so that they can make the right investment decision.

The Council also affirms the role of central banks, Arab monetary institutions and supervisory bodies in the financial sector in the Arab countries in enhancing financial coverage through the enactment of laws and legislations aimed at promoting the spread of financial and banking services, developing payment systems and credit inquiries and identifying gaps and obstacles in both supply and demand. Policies and policies to address them and stimulate the private sector and financial and banking institutions and related parties to play their role in raising awareness and financial culture to enable and strengthen the capacities of local communities.

The Council is keen to give the issues of financial inclusion in the Arab countries the importance it deserves. The Council has launched various activities and initiatives in cooperation with the relevant regional and international institutions. These efforts have been further strengthened by the launch of the Arab Monetary Fund in cooperation with a number of regional and international institutions under the umbrella of the Council, the Regional Initiative for the Enhancement of Financial Inclusion in the Arab Countries ( FIARI)) In order to enable and strengthen capacities and possibilities to overcome the obstacles to improving indicators of financial inclusion in the Arab countries. The initiative includes many activities that focus on supporting young people, empowering women financially and encouraging the development of start-ups and entrepreneurs by providing technical advice to develop strategies and policies. On this occasion, the Council calls upon the regional and international institutions to cooperate and coordinate among themselves within the framework of this initiative, which will contribute to support the efforts of the authorities in the Arab countries.

In addition to achieving the objectives of national strategies for financial coverage and finding solutions to core issues, the Board stresses the importance of following up on the development of modern financial infrastructure, the completion of the relevant legislation, regulations and laws, and the promotion and provision of sophisticated financial products and services to meet the needs of the target groups. In this context, the Council emphasizes the importance of shifting from traditional financial services to modern means and tools and utilizing modern financial techniques in the development of digital financial services and enhancing their spread in the Arab countries.

In conclusion, the Council calls on all Member States to revive the activities of the Arab Day for Financial Inclusion by implementing activities and activities that enhance and clarify the vision of financial inclusion and its objectives, wishing success and success to the activities and activities of the Arab Day for financial inclusion and achieving the desired objectives in terms of enabling the entrepreneurship sector. And emerging companies.

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