Official CBI News 01/24/2023

[6ly410]

Association of Iraqi Private Banks to / Nina / : The results of the "scorecard" will be positive for banks for the next stage

Monday 23 , January 2023 15:43 |EconomicalViews: 200

Association of Iraqi Private Banks to / Nina / : The results of the "scorecard" will be positive for banks for the next stage (ninanews-com.translate.goog)

Baghdad /Nina/ Executive Director of the Association of Iraqi Private Banks Ali Tariq Mustafa: "The results of the report of the scorecard for the banking sector is a joint positive work carried out in cooperation between the Central Bank of Iraq and the International Finance Corporation, and related to a wide range of institutions of the banking sector. He said in a statement to the Iraqi National News Agency
: “This process is the basis for building my future in developing the capabilities of the banking sector to reach the role of the Association of Iraqi Private Banks, in cooperation with the Institute of Governance in building solid training programs for the banking sector and developing its capabilities through the scorecard and corporate governance, which is to have efficient boards of directors in the banking sector to protect the work of banks, and its effects will be positive on the results of the work of banks for the next stage.”
It was announced in the capital, Baghdad, on Monday, the launch of the results of the first report of the scorecard for environmental, social and corporate governance (ESG) standards for the Iraqi banking sector, in the presence of government officials, representatives of the Central Bank and representatives of relevant financial and banking institutions, in cooperation and coordination with experts of the International Finance Corporation (IFC). /Ends5

 

 

 

[yota691]

The Central Bank launches the first report of the Environmental, Social and Governance Scorecard Project

 

  

 January 24, 2023

 

---

---

On Monday, corresponding to 1/23/2023, the Central Bank of Iraq celebrated with the International Finance Corporation (IFC) the signing of an agreement to launch the first report of the Environmental, Social and Governance (ESG) scorecard project in the Iraqi banking sector, while preparations for this were done in cooperation and coordination with the Finance Corporation experts. International (IFC).  
At the launch ceremony of the report, the Governor of the Central Bank of Iraq said: "The performance card will strengthen control systems and enable the bank to follow international practices and keep abreast of developments, as it will provide an electronic database at the Central Bank of Iraq that meets corporate governance, especially disclosure and transparency to achieve sustainability for banking entities."
For her part, Ms. Marie Porter Peska, General Manager of Sustainability and Gender Solutions at IFC, said: “This report presents an important analysis of ESG risks across the country’s banking sector and helps Iraqi financial institutions measure their performance and adherence to those standards.”
Dialogue sessions were held that confirmed that the performance card is a quantitative measure to see the extent of banks' compliance with the Corporate Governance Guide with regard to the level of adherence to best practices in the banking sector inside Iraq, which allows for the possibility of classifying banks. 
It is worth noting that the Central Bank of Iraq is the first regulatory and supervisory institution to implement this project, at the level of the countries of the Middle East and North Africa.

Central Bank of Iraq, 
Media Office,
January 24, 2023

[ronscarpa]

 

The Central Bank launches the first report of the Environmental, Social and Governance Scorecard Project

 

Tuesday - January 24, 2023

 

---

---

On Monday, corresponding to 1/23/2023, the Central Bank of Iraq celebrated with the International Finance Corporation (IFC) the signing of an agreement to launch the first report of the Environmental, Social and Governance (ESG) scorecard project in the Iraqi banking sector, while preparations for this were done in cooperation and coordination with the Finance Corporation experts. International (IFC).  

At the launch ceremony of the report, the Governor of the Central Bank of Iraq said: "The performance card will strengthen control systems and enable the bank to follow international practices and keep abreast of developments, as it will provide an electronic database at the Central Bank of Iraq that meets corporate governance, especially disclosure and transparency to achieve sustainability for banking entities."

For her part, Ms. Marie Porter Peska, General Manager of Sustainability and Gender Solutions at IFC, said: “This report presents an important analysis of ESG risks across the country’s banking sector and helps Iraqi financial institutions measure their performance and adherence to those standards.”

Dialogue sessions were held that confirmed that the performance card is a quantitative measure to see the extent of banks' compliance with the Corporate Governance Guide with regard to the level of adherence to best practices in the banking sector inside Iraq, which allows for the possibility of classifying banks. 

It is worth noting that the Central Bank of Iraq is the first regulatory and supervisory institution to implement this project, at the level of the countries of the Middle East and North Africa.

Central Bank of Iraq, 
Media Office,
January 24, 2023

 

Edited January 26, 2023 by ronscarpa