The Iraqi Company for Financing Small and Medium Projects participated as a silver sponsor in the Governance, Risk Management, and Compliance (GRC) Forum, held at the Babylon Rotana Hotel on Tuesday, May 28, 2024. The event was organized by Bayt Al-Hikma for Training and Consultations (BHTC) due to its significant role in promoting banking culture in this field. Attendees included Dr. Laila Al-Tamimi, Head of the Parliamentary Strategic Planning Committee, Mr. Mustafa Al-Karaawi, Member of the Parliamentary Finance Committee, representatives from the Prime Minister's Office, the Central Bank of Iraq, business leaders, and a large group of specialists, experts, and representatives from companies and banks in both the public and private sectors.
The focus on governance policy, which encompasses processes, policies, and the management and implementation of laws governing an institution, aims to ensure its effective, transparent, and reliable operation. Compliance, on the other hand, serves as the monitor for the application of these laws and policies, ensuring their execution according to established standards that improve resource utilization and foster trust. Risk management plays a role in identifying and assessing factors that may impact the institution's ability to achieve its objectives, analyzing anticipated risks, and developing proactive strategies to address them. All these processes fall within the government's agenda and under the umbrella of the Iraqi government's reform program.
The bank's management is keen to participate in such specialized forums and conferences due to their practical and professional significance, which contributes to the development of financial and banking institutions and, in turn, fosters the growth of the financial and economic sectors as a whole.
