Talal Abu-Ghazaleh Boosts Cooperation With Central Bank of Iraq

A delegation representing Talal Abu-Ghazaleh Organization (TAG-Org) agreed with the Governor of the Central Bank of Iraq (CBI), Mr. Ali Mohsin Ismail Al-Alaq, means of cooperation between the two parties.

The delegation headed by Mr. Ahmad Obeidat, Executive Director of the Baghdad Office, presented the various services provided by TAG-Org, particularly in the fields of Information Technology and Risk Management.

Obeidat expressed TAG-Org’s readiness to present its professional services through Baghdad Office and its highly trained and qualified staff.

For his part, Al-Alaq emphasized that CBI is fully prepared to cooperate with TAG-Org, especially where consistent with CBI’s objectives related to the implementation of work practices compatible with the best international standards.

Discussions with Al-Alaq incorporated the need to develop a plan for the training and the development of CBI’s human resources in the field of Information Technology, as well as CBI's extensive efforts to obtain implementation of IT technologies certification  based on international standards.

Al-Alaq stated that the general approach now is to develop banking services and to introduce new banking products and e-payment systems based on advanced technologies to meet challenges facing the banking sector and to set up an advanced monitoring system of all e-banking activities and services.

Meanwhile, Mr. Berj Vartenian, Talal Abu-Ghazaleh Information Technology International (TAGITI) Director introduced a presentation on the mechanism of IT audit and assessment.

During the delegation’s visit to TAG-Org Baghdad Office, Mr. Salim Al Ouri, Executive Director of the Arab International Society of Certified Accountants (IASCA), signed a training agreement with Iraq Private Banks League  that aims at providing specialized training to Iraqi banks’ staffs on risk management.

On the sidelines of the visit, the League held a workshop entitled "Development of Information Technology" based on CBI's instructions,  that was attended by 90 employees of the Iraqi banks.

During the workshop, TAG-Org, Microsoft and Oracle representatives tackled the importance of good governance, IT management and risk management based on the international standards.