The Central Bank of Iraq announces the launch of the Scorecard project within days
The Central Bank of Iraq announces the launch of the Scorecard project within days
Sunday May 23, 2021 | 10:32 a.m.
On Sunday, the Central Bank of Iraq announced the completion of 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 Central Bank of Iraq said in a statement; He 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 to keep abreast of developments in banking services .
He pointed out that the Scorecard project (quantitative scale) represents environmental, social and governance standards .
He pointed out that work on this project had 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 .
He stressed that the project will be launched through a virtual meeting on the twenty-sixth of May, in the presence of relevant local and international institutions, relevant authorities and representatives of the Iraqi banking sector.
aynaliraqnews.com