The Central Bank launches the {Scorecard} project

  •  Time: 05/23/2021 10:11:44 
  •  Read: 3,549 times 
The Central Bank launches the {Scorecard} project

{Economic: Al Furat News} The Central Bank of Iraq has completed the Scorecard Project for Environmental, Social and Governance Standards in cooperation with the International Finance Corporation (IFC) affiliated with the World Bank Group to address regulatory issues in the banking sector.

A statement of which {Al Furat News} received a copy of it stated that “The Central Bank of Iraq has adopted the application of corporate governance in banks as a goal within the strategic plan for the period (2016-2020) to strengthen the control and supervision systems based on international best practices in this field as well as keeping up with developments taking place. In banking services. ”
And that “the Scorecard project represents (the quantitative measure) of environmental, social and governance standards.”
He pointed out that “work has started on this project at the end of 2019, as pilot tests for the scorecard were conducted during the period (2020-2021) with the participation of all commercial and Islamic banks operating in the Iraqi banking sector.
The project will be launched through a hypothetical meeting on 26th. From the current May, in the presence of relevant local and international institutions, relevant authorities and representatives of the Iraqi banking sector,
Ammar Al-Masoudi

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