CENTRAL BANK OF IRAQ

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The Central Bank of Iraq has completed the performance Scorecard Project for Environmental, Social, and Governance Standards in cooperation with the International Finance Corporation (IFC) of the World Bank Group to address supervisory issues in the banking sector.

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 monitoring and supervision systems, based on international best practices in this field, as well as keeping pace with developments in banking services.

The performance Scorecard project represents (quantitative measure) of environmental, social, and governance standards.

It is noteworthy that work on this project was started at the end of 2019, as the scorecard was tested and 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 virtual meeting on the 26th of May, in the presence of relevant local and international institutions, relevant authorities, and representatives of the Iraqi banking sector.

 

  The Central Bank of Iraq

          Media Office

         May 23, 2021