The Association of Private Banks organizes a Ramadan evening in the presence of the World Bank in Erbil
Economy News Baghdad:
The Association of Iraqi Private Banks organized a Ramadan evening in cooperation with the Governance Center for Directors in Erbil and in the presence of a number of economic institutions, including the International Finance Corporation of the World Bank, the Civil Society Organizations Department and a group of effective civil society organizations in the region.
And presented at the beginning of the evening documentary film shows the activities of the Association of private banks during the past years and community initiatives provided in addition to international conferences held inside and outside Iraq and others.
"The Association of Private Banks is very interested in implementing governance in all institutions operating in the country because it will increase its activity, which will reflect positively on the country's economy," said Wadih al-Hanal, president of the Association of Iraqi Private Banks.
He pointed out that "the Association of Private Banks is ready to become a strategic partner of the institutions wishing to implement governance in Iraq," adding that
"Iraqi banks are currently working to implement the system of governance, which will increase banking services."
He pointed out that "the development of Iraq's economy is through opening the way for the private sector and the government to facilitate its actions and end the suffering of this vital sector by involving it in all economic sectors."
He pointed out that "the world's experiences proved that the only solution to build the economy is through the private sector, "He said.
The World Bank's International Finance Corporation (IFC) Head of Mission, Ziad Badr, announced that IFC is working to establish a Governance Center in Baghdad and Basra .
"Corporate governance is an important step in transforming family businesses into large institutions that ensure continuity for generations," Bader said.
"IFC supports governance in several countries through the establishment of locally managed institutions."
"The Corporate Governance Center, established last year in Erbil, is a success story because it has a cohesive board that worked together and managed to provide the support and funding required for their success," he said.
"IFC has launched governance bodies in several countries such as Jordan and Egypt, In Baghdad, Basra and other provinces."
"IFC intends to work on a partnership with the Association of Private Banks on governance as well as with the promising station organization to give the new blood a greater role in leadership in the context of governance and this is the most important message," he added.
"The World Bank is the patron of the Governance Center for Managers, which gives strength, immunity and credibility to our work, as well as the Institute's support to the private and public sectors, " said Mahmoud Raouf Karim, Chairman of the Governance Center .
He added that "the governance center for managers consists of 10 members, all volunteers to serve companies and official bodies to serve the national economy."
He explained that "the World Bank has equipped us with trainers to conduct training courses aimed at upgrading the level of companies, banks and human cadres, which will work to develop the institution and increase productivity."
He pointed out that "the success of companies must be a fabric between the Board of Directors and the executive, which will become clear that the goal of maintaining the sustainability of the company and its survival for several generations."
Added Date 29/05/2018