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FSVC Iraq Program Overview 2/1/2012
Iraq Program Overview
In partnership with the U.S. Department of State’s Bureau of Near Eastern Affairs, FSVC initiated a wide-ranging technical assistance program with the Central Bank of Iraq (CBI) in 2008. The program focuses on banking reform, modernizing the CBI’s operations, improving global counterparty relationships, institutional capacity building, and formulating monetary and economic policy responses.
Key Accomplishments
Kansas City Federal Reserve Bank President Tom Hoenig (center) makes a presentation to CBI Governor Sinan al-Shabibi (center left).
Banking Regulation/Supervision:
FSVC Volunteer experts helped establish a five-person Information Technology (IT) supervision team. In 2011, FSVC initiated a program to modernize the CBI’s approach to bank supervision by adopting international best practices in risk management.
Cash Management:
FSVC provides technical assistance to modernize the handling and processing of currency in order to reduce risks and improve efficiency. As a result, the CBI cash department has been introduced to modern technologies for processing currency and is considering options for eliminating certain aspects of the manual cash handling.
Organizational:
FSVC volunteers made recommendations for reorganizing the CBI management structure in order to clarify responsibilities and develop clear guidelines for the heads of departments. FSVC also facilitated the early design stages for a new CBI headquarters by introducing management to architects, consultants and project managers. The new building is scheduled to be completed in 2015.
Compliance:
FSVC volunteer experts drafted a counterparty due diligence checklist that will result in reducing credit risk and make the CBI and Iraq’s commercial banks more appealing to domestic as well as foreign investors. Trainings on due diligence and anti-money laundering are continuing in 2011.
In the links below, visitors can view FSVC's most recent Success Stories and News Items concerning Iraq and Lebanon:
- News Item: FSVC Participates in the 2011 Global Entrepreneurship Week (November 14-24) [You must be registered and logged in to see this link.]
- Success Story: Consultations and Training on Conducting Counterparty Due Diligence (March, 2011) [You must be registered and logged in to see this link.]
Office Contact
Danyelle Gerges, Program Officer
Farha Building, 4th Floor
Kalaa Street, Ras Beirut
Beirut, Lebanon
[You must be registered and logged in to see this link.]
Iraq Program Overview
In partnership with the U.S. Department of State’s Bureau of Near Eastern Affairs, FSVC initiated a wide-ranging technical assistance program with the Central Bank of Iraq (CBI) in 2008. The program focuses on banking reform, modernizing the CBI’s operations, improving global counterparty relationships, institutional capacity building, and formulating monetary and economic policy responses.
Key Accomplishments
Kansas City Federal Reserve Bank President Tom Hoenig (center) makes a presentation to CBI Governor Sinan al-Shabibi (center left).
Banking Regulation/Supervision:
FSVC Volunteer experts helped establish a five-person Information Technology (IT) supervision team. In 2011, FSVC initiated a program to modernize the CBI’s approach to bank supervision by adopting international best practices in risk management.
Cash Management:
FSVC provides technical assistance to modernize the handling and processing of currency in order to reduce risks and improve efficiency. As a result, the CBI cash department has been introduced to modern technologies for processing currency and is considering options for eliminating certain aspects of the manual cash handling.
Organizational:
FSVC volunteers made recommendations for reorganizing the CBI management structure in order to clarify responsibilities and develop clear guidelines for the heads of departments. FSVC also facilitated the early design stages for a new CBI headquarters by introducing management to architects, consultants and project managers. The new building is scheduled to be completed in 2015.
Compliance:
FSVC volunteer experts drafted a counterparty due diligence checklist that will result in reducing credit risk and make the CBI and Iraq’s commercial banks more appealing to domestic as well as foreign investors. Trainings on due diligence and anti-money laundering are continuing in 2011.
In the links below, visitors can view FSVC's most recent Success Stories and News Items concerning Iraq and Lebanon:
- News Item: FSVC Participates in the 2011 Global Entrepreneurship Week (November 14-24) [You must be registered and logged in to see this link.]
- Success Story: Consultations and Training on Conducting Counterparty Due Diligence (March, 2011) [You must be registered and logged in to see this link.]
Office Contact
Danyelle Gerges, Program Officer
Farha Building, 4th Floor
Kalaa Street, Ras Beirut
Beirut, Lebanon
[You must be registered and logged in to see this link.]
