Economy News _ Baghdad
The Association of Iraqi Private Banks concluded Thursday a training course titled “Requirements of various quality management systems according to the ISO system”, with the participation of the Central Bank and a number of government and private banks and financial transfer companies.
The banking adviser to the Association of Iraqi private banks, Samir Nusairi, during the closing ceremony and attended by “Economy News”, “The Association works in partnership with the Central Bank on the work of training for employees in the banking sector in accordance with the latest systems in force internationally, and the requirements set by the Central Bank of banks operating in Iraq “He said.
“The course enabled the participants to develop the audit plan and review lists in accordance with the requirements of the Business Continuity Standard and the ability to know the points of non-conformity of the system.”
For his part, Director of Quality Management Department in the Central Bank Hussein Faisal, said that “the training conducted by the Association in general is the basis of a strategic plan developed by the Central Bank in cooperation with the Association, aimed at developing cadres working in the bank and the Iraqi banking sector,” adding that ” To issue central instructions to implement the continuity of business in the banking sector, indicating the mechanism that can achieve the appropriate return to the sector.
“The certificate obtained by the trainees is specialized in the continuity of business in the banking sector in accordance with ISO 22301”. This criterion is within the requirements of the World Bank and the Basel Committee, which issued a set of specialized instructions in this area on the need to be applied by banks worldwide for special standards for business continuity “He said.
“The central bank has sought to apply this standard for the first time in Iraq and its integration with an international standard issued by the International Organization for Standardization (ISO)” and applies this standard in most of the global central banks.