Economy News Baghdad:
A training course titled “Corporate Risk Management” organized by the Association of Iraqi Private Banks at its headquarters in the capital Baghdad was concluded on Thursday with the participation of 76 trainees from government, private and foreign banks and financial transfer companies.
The Executive Director of the Association of Private Banks Ali Tariq, told “Economy News”, “The Association of Iraqi private banks concluded today a training course in institutional risk management, which was organized in cooperation with Talal Abu-Ghazaleh and the Arab International Community of Chartered Accountants,” adding that ” The course 76 people working in banks and financial transfer companies operating in Iraq. “
He explained that “the course of the training course ensures the management of risks, which are divided into market risks and operational risks and credit risks and applications of the elements and concepts of Basel,” pointing out that “the certificate given to participants recognized internationally because it issued by the Arab International Institute of Chartered Accountants.”
He pointed out that “the training courses organized by the Association of Iraqi private banks during the last period began to show their features through the development that took place in the banking sector of Iraq,” noting that “the Central Bank praised the efforts of the Association of private banks, specifically in the field of training and development.”
The Association of Private Banks, announced earlier this year, the training of more than 900 employees working in government and private banks and financial transfer companies in the areas of anti-money laundering and risk management.
Meanwhile, the director of management and training in the Association of Private Banks, Ahmed al-Hashemi, told “Economy News” that “the session targeted all employees in the risk management department of banks operating in Iraq,” describing the session as “successful due to the participation of a large number of bank employees.”
He pointed out that “the Central Bank and the Association of Private Banks have a strategic plan to develop the banking sector through the work on human resources,” adding that “there continue with the trainees in the coming period to find out their needs in order to continue education.”
On the other hand, the director of risk management at the Central Bank, Hussein Lazam, told the “Economy News” that “risk management is present in all organizations, but there is privacy in the banking sector because the environment of the bank is the most serious,” adding that ” Of all banks to establish a risk management department and not a risk management unit or division. “
He stressed that “risk management needs a great effort by banks because it serves its work and put it on the right track in the face of challenges.”