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FRANK26: "THE MONETARY REFORM IS THE MAP PROJECT IN ORDER TO SUCCEED.".........F26
Central Bank of Iraq launches Financial Sustainability Map Project
September 23, 2024
The Central Bank of Iraq launched the Financial Sustainability Map Project and the Environmental, Social and Governance Guide for Banks in cooperation with the International Finance Corporation (IFC).
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, said on the sidelines of the launch ceremony: The Central Bank plays an important role in supporting the development, growth and financial stability of Iraqi banks, while ensuring that their environmental, social and governance performance is consistent with international standards.
The Governor stressed that the Central Bank is implementing this guide, which is unique in the Middle East region, praising the role of the International Finance Corporation and the Kingdom of the Netherlands in helping Iraq implement these programs.
In turn, Fawaz Al-Bilbeisi, Director of the International Finance Corporation in the Kingdom of Saudi Arabia, Iraq and Lebanon, said that this partnership represents a milestone in Iraq's strategic approach to sustainable financing, and demonstrates the IFC's commitment to partnering with the Central Bank and the banking sector in Iraq to strengthen the country's financial infrastructure and increase the competitiveness of its banks.
He noted that the Environmental, Social and Governance Regulation will help banks improve their performance.
The first session witnessed the strengthening of the Iraqi banking sector for a sustainable future and investment, which addressed the bank’s journey to prepare a roadmap for financial sustainability, while the second session witnessed the possibility of managing environmental and social risks as a focus for change in the Iraqi banking sector.
Central Bank of Iraq
Media Office
September 23, 2024
Media Office
September 23, 2024
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