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 local businesses.
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 Africa.
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.
About IFC
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
.
About TAG-College
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.
