CBI launches the Scorecard project

Baghdad - INA 

The Central Bank of Iraq launched today, Sunday, a scorecard project for environmental, social and governance standards, in cooperation with the International Finance Corporation (IFC)  of the World Bank Group, to address regulatory issues in the banking sector .

A central bank statement received by the Iraqi News Agency (INA) stated that “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, relying on international best practices in this field as well as keeping up with developments. 

The statement added, "The scorecard project represents the (quantitative measure) of environmental, social and governance standards."

It is reported that the Central Bank has started work on this project 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 .