New ESG Performance Scorecard for Iraqi Banking Sector

By John Lee.

The Central Bank of Iraq (CBI) has signed an agreement with the International Finance Corporation (IFC) to launch the first ESG (Environmental, Social, and Governance) Performance Card project report in the Iraqi banking sector.

This was prepared in cooperation and coordination with experts from the International Finance Corporation (IFC).

At the launch of the report, the Governor of the Central Bank of Iraq said:

"The Performance Card will strengthen regulatory systems and enable the bank to follow international practices and keep up with developments. It will provide an electronic database at the Central Bank of Iraq that complies with corporate governance, especially disclosure and transparency, to achieve sustainability of financial entities."

Mrs. Marie-Pierre Bishka, Director General of Sustainable Solutions and Gender Equality at the International Finance Corporation, said:

"This report provides an important analysis of environmental, social and governance risks across Iraq's banking sector and helps Iraqi financial institutions measure and comply with these standards."

(Source: CBI)

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