Amman, Jordan, March 23, 2010—IFC,
a member of the World Bank Group, and the Talal Abu-Ghazaleh (TAG
College) College of Business are training banks in Jordan and the region
on good corporate governance practices and how to improve their performance,
which will help them attract investment and increase their support for
IFC and TAG College expect to train
50 individuals from 15 financial institutions. The training, which will
cover topics including risk management, compliance, and auditing, will
be delivered to board chairs, board members, directors, senior executive
officers, and top management of banks and financial institutions.
The goal of the training is to equip
individuals, companies, and financial institutions with the tools they
need to implement good corporate governance practices, so they can attract
capital, improve their performance, and better weather financial crises.
TAG College will also integrate corporate governance topics into its curriculum,
to expand awareness of good practices.
Talal Abu-Ghazaleh, Chairman and CEO
of TAG-Organization, said, "By providing training on corporate governance,
TAG College will not only facilitate understanding of good corporate governance
practices to financial institutions, but will help the financial and business
sectors in Jordan grow."
Ahmed Ali Attiga, IFC Senior Country
Officer in Jordan, said, "Improving corporate governance practices
and awareness among banks will enable them to grow and increase financing
opportunities, particularly for smaller businesses."
IFC Advisory Services works with both
private and public sector entities to develop corporate governance practices
that improve access to capital and increase the operational efficiency
and financial performance of family-run enterprises and financial institutions
servicing micro, small and medium enterprises in the Middle East and North
IFC is the only international financial
institution focused exclusively on the private sector, the engine of sustainable
development in emerging markets. Along with IBRD, it is currently
seeking a capital increase to strengthen its ability to create opportunity
for the poor in developing countries—including by strengthening corporate
governance practices in the Middle East and North Africa.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $14.5
billion in fiscal 2009, helping channel capital into developing countries
during the financial crisis. For more information, visit www.ifc.org.
Talal Abu-Ghazaleh College of Business
(TAG-College) was established in 2006 to offer high quality business programs.
It is the first college of its kind to represent a partnership between
the private and the public sectors in the Arab world. This unique partnership
brings the business expertise of Talal Abu-Ghazaleh Organization (TAG-Org)
to the academic world of the German Jordanian University (GJU). TAG-College
offers MBA degrees in one of the following concentrations: International
Accounting, Management, Quality Management, Human Resources Management,
Banking and Finance and Marketing.