Productivity Protocols for Banks

EghtesadOnline: The National Iranian Productivity Organization, which works toward the promotion of productivity in various economic sectors, will help Iranian lenders maximize their efficiency, the head of the organization announced.

News ID: ۷۴۳۷۹۸

17 September 2017

“Banks are among major businesses whose cycle of productivity is of paramount importance, so we are looking to implement that process for them at NIPO,” Roya Tabatabaei also told IBENA.

According to the official, a total of 30 major enterprises–which include banks– have been targeted to achieve full efficiency.

At present, she added, two banks (that were not named) have entered the process and “while we do not know whether they would stick to the end or abandon the process, we hope to follow up on the process and see it through”.

According to Financial Tribune, Tabatabaei noted that implementing steps with the aim of maximizing productivity is a new concept in the banking system, which has yet to take off.

“The theoretical fundamentals to instill productivity in banks are in place, but they are still a far cry from becoming practical and integral to all lenders,” she said.

Either way, she noted that “the banking sector is very important to us” and that is why NIPO aims to implement full efficiency protocols in at least one bank next year (starting March 21, 2018) so that it can become a model for others.

As to implementing productivity standards in the Central Bank of Iran, Tabatabaei said no significant steps have been taken so far and there has been no exchange of information in this regard between NIPO and CBI.

While the first productivity organization was founded independently in 1992, NIPO in its current form was established as a governmental institution based on the Fifth Five-Year Development Plan in 2011. As of October 2016, it pursues its mission as a subordinate of the Administrative and Recruitment Organization.

Active as the secretariat of Asian Productivity Organization in Iran, NIPO is tasked with “formulation of strategic plans directed towards the promotion of productivity in various economic sectors” and “monitoring the performance of executive agencies in implementing duties entrusted to them for the promotion of productivity” , according to its website.