AIB RM AND DFS (IFC-602964)

Countries
  • Iraq
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Ashur International Bank
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 13, 2019

Disclosed by Bank Nov 15, 2018


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Project Description

According to bank documents, IFC is helping Ashur International Bank to strengthen its risk management practices and formulate a strategy for digitization, allowing the Bank to solidify its position and ensure profitable and sustainable growth. IFC will advise the Bank at the board and management levels to ensure that it meets international best practices in risk management and Digital Financial Services. This comes at a time when Central Bank of Iraq has issued governance policy/rules for banks, aiming to align banks to international best practices and Basel II / III recommendations and guidelines.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

*Contact information not provided at thet time of disclosure*

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/