Regulatory Alerts2025-07-31
Environmental, Social and Corporate Governance (ESG) Standards Guide for Banks 2025
The Central Bank of Iraq (CBI) issued this mandatory 2025 guide to establish comprehensive Environmental, Social and Corporate Governance (ESG) standards for all Iraqi banks. It requires the formation of an ESG & Sustainability Committee, mandates robust board composition with independent and climate-skilled members, and enforces strict reporting, disclosure, and risk management frameworks aligned with international benchmarks. The guide ensures banks systematically integrate ESG considerations into their strategies, operations, and stakeholder relations to safeguard depositor funds and achieve long-term financial sustainability.
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