CBI to launch the scorecard project this week

Shafaq News / The Central Bank of Iraq announced today completing 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 said in a statement that it had adopted corporate governance in banks as a goal within the strategic plan for the period between 2016 and 2020 to enhance control and supervision systems, based on international practices in this field, as well as keeping pace with developments in banking services.

The statement pointed out that work on this project had started by the end of 2019, as pilot tests for the scorecard were conducted during 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 May 26, to be attended by local and international institutions, as well as the relevant authorities and representatives of the Iraqi banking sector, as by the statement.