The Central Bank launches the “Scorecard” project to strengthen supervision in the banking sector
The Central Bank of Iraq announced, on Sunday, that it has completed the scorecard project for environmental, social and governance standards in cooperation with the International Finance Corporation (IFC) affiliated with the World Bank Group, indicating that the project aims to “address supervisory issues in the banking sector.”
In a statement received by Al-Iqtisad News, the Central Bank said that it had 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 based on international best practices in this field as well as keeping pace with developments in banking services.” .
The statement added, “The Scorecard project represents (the quantitative measure) of environmental, social and governance standards.”
He pointed out that “the project will be launched through a hypothetical meeting on the twenty-sixth of the current May, in the presence of relevant local and international institutions, relevant authorities and representatives of the Iraqi banking sector.”
In his statement, the Central indicated that “work has started 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.” link
LOLOL!!!! The article literally says, “ He pointed out that “the project will be launched through a hypothetical meeting on the twenty-sixth of the current May…” A hypothetical meeting. Who has hypothetical meetings? What the heck is a hypothetical meet up?
My guess hypothetical means the same as virtual in Iraq.
The one thing we have to consider when reading the articles is they are addressing a population who don’t know what we know. It sounds like one thing …but know what they have to do.
either way… it is a strong and bold and in the right direction … most favorable for the RV…and a direct statement from the CBI
Source: Dinar Recaps
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