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[size=36]The Central Bank launches the Scorecard project[/size]
Economie| 10:05 - 23/05/2021
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Baghdad - Mawazine News
The Central Bank of Iraq announced, on Sunday, the launch of the Scorecard project, in cooperation with the International Finance Corporation (IFC).
"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 supervisory issues in the banking sector," the bank’s media office said in a statement.
The statement added, "The Central Bank of Iraq has adopted the application of institutional 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 pace with developments in banking services."
He explained, "The scorecard project represents the (quantitative measure) of environmental, social and governance standards."
He continued: "It is mentioned that work on this project has started 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."
According to the statement, the project will be launched "through a hypothetical meeting on the twenty-sixth of the current May, in the presence of relevant local and international institutions, relevant authorities and representatives of the Iraqi banking sector."
The Central Bank of Iraq announced, on Sunday, the launch of the Scorecard project, in cooperation with the International Finance Corporation (IFC).
"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 supervisory issues in the banking sector," the bank’s media office said in a statement.
The statement added, "The Central Bank of Iraq has adopted the application of institutional 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 pace with developments in banking services."
He explained, "The scorecard project represents the (quantitative measure) of environmental, social and governance standards."
He continued: "It is mentioned that work on this project has started 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."
According to the statement, the project will be launched "through a hypothetical meeting on the twenty-sixth of the current May, in the presence of relevant local and international institutions, relevant authorities and representatives of the Iraqi banking sector."
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