Less than a third of the remaining members of the Central Bank of Iraq voted in support of the business lobby group’s plan to overhaul its management and culture after the misconduct scandal, according to figures disclosed in parliament on Tuesday.
CBI Director General Ryan Newton-Smith told MPs that the group now has around 1,200 members following a crisis stemming from allegations of serious misconduct in the organisation.
This figure means that less than 30 percent of members cast their votes in a vote of confidence that took place last week.
The CBI, which suspended most of its activities in April until last week’s vote of confidence, won by a margin of 93 percent to 7 percent based on the participation of 371 members.
The group’s viability has been called into question by an exodus of its members and the government’s decision to deny it access to ministers and senior officials.
On Tuesday, Newton-Smith set out to convince MPs on the House of Commons Business and Trade Committee that the CBI remained a representative voice for businesses of all sizes across the UK economy.
“We are fully confident in our ability to recover from the crisis that our organization went through,” she said, referring to the changes made by the Central Bank of Iraq to its management and culture.