Responding to the new needs of customers is one of the strategies of the Cooperative Development Bank
According to Monetary News, Mohammad Sheikh Hosseini in the training workshop of staff managers and branches of the province, stating that strategic management should be on the agenda of colleagues, said: “Resource management and liquidity is the most important priority of the bank in the coming months.” In the field of liquidity management, the necessary tools and processes must be designed and implemented.
He added: “We need a series of pre-determined measures to achieve the developed strategies.”
Sheikh Hosseini, stating that human beings are in the highest position in our Islamic and organizational thinking, said: creating motivation based on competence, expertise and commitment in the forces of the organization should be done.
The head of the Cooperative Development Bank continued: “Currently, the process and manner of providing the service is more important than the service itself.” In this process, manpower, technology and executive procedures play an important role.
According to Sheikh Hosseini, if we consider God’s pleasure in serving customers, employees and stakeholders, we will face peace in this world and salvation in the hereafter.
The head of the Cooperative Development Bank stated: Managers must have a jihadist spirit in doing things, and this spirit means that the manager must be active and lead in work.
Sheikh Hosseini stated that responsibility and accountability is one of the main characteristics of a manager and the only way for managers to be successful is to be accountable.
The head of the Cooperative Development Bank stressed that senior provincial managers must have strategic thinking. Being equipped with this mindset can solve many challenges.
Leadership was another characteristic that Sheikh Hosseini described and said: the managers of the province should continuously direct and lead their subordinate forces and have a kind of coaching role.
The head of the Cooperative Development Bank pointed out one of the challenges and said: “Sectarianism and an island of action create many problems for the organization.”
Referring to Mahathir Mohamad’s experience in Malaysia, he said: “Planning, control and monitoring are the most important indicators of the country’s development.”
He mentioned the central process as one of the other managerial features and added: in all the actions and activities of the bank in all sectors, process-oriented thinking should be on the agenda.
Trustworthiness, justice, assertiveness, tolerance and collective thinking and consultation were described as managerial characteristics by Sheikh Hosseini.
He once again emphasized on strategic management and said: “Resource and liquidity management should be on the agenda of all pillars of the bank as a strategy for the next few months.”
The head of the Cooperative Development Bank continued: “We need to consider the necessary tools to manage liquidity, and we may need to change some processes.”
Explaining the success of the organization, Sheikh Hosseini stated: Human capital is the most important component of the success of the organization. Technology can also contribute to the success of the organization.
The role of the Cooperative Development Bank in advancing development programs and budgetary tasks
Mohammad Jafar Irani, a member of the board of directors of the Cooperative Development Bank, stated at the beginning of the training working group for the staff and provincial managers of the Cooperative Development Bank:
He added: “There are about 500 development banks in the world that have a supportive approach and the Cooperative Development Bank is in charge of an ethical approach in the field of Iran’s economy. Be.
“Looking at emerging markets, competitors and monitoring the banking space can provide a valuable opportunity for the Cooperative Development Bank to be sufficiently prepared for constructive activity in the coming years,” he said.
A member of the board of directors of the Cooperative Development Bank pointed out: The level of market penetration is an important indicator that can be used to explain the current and predictable situation for the bank by receiving correct data.
Irani pointed out that through measures and programs, the effectiveness of the bank in the fields of development and progress of the country can be reflected: Including the allocation of seventy percent to the cooperative sector and the share of cooperatives in achieving this size, can be reviewed and analyzed.
Irani said: “The bank is in a competitive environment with the banking network to attract resources and also make services attractive to customers and clients, and although commercial banks have more freedom of action, the art of the bank’s colleagues has been to take a development approach in this.” Operate a competitive market.
He added: “There are more than 90,000 cooperatives active in the field of economy and 220,000 cooperatives are registered in the national statistics sources, and the Cooperative Development Bank has a duty to provide conditions to provide financial resources, equip resources and specialized services with a level Mumtaz will present a broad goal for this community.
A member of the board of directors of the Cooperative Development Bank said: Provincial managers and queuing units have valuable experience in providing services to the target community and facing cooperatives and assessing their needs, and the synergy and interaction of headquarters and queuing units can be fruitful.
Irani added: “Helping the growth of the cooperative sector can also be effective in reducing government ownership, and the possibility of cultivating and growing cooperatives and achieving a 25 percent share in the national economy is also effective in the overall development of the country.”
Cooperative Development Bank program for payment of mandatory facilities
Cooperative Development Bank will provide maximum support for the implementation of Note 16 of Budget Law 1401 in order to pay the mandatory facilities for marriage, childbearing, clients of the Relief and Welfare Committee.
The Chairman of the Board of Directors of the Cooperative Development Bank announced on the second day of the training workshop for staff and branch managers: According to the tasks announced by the Central Bank, in the field of Note 16 of the Budget Law, the Cooperative Development Bank will pay 55,000 billion rials in this subject.
Seyyed Baqer Fattahi added: At the time of approving the budget of 1200 thousand billion Tomans, the parliament had determined the obligatory facilities for the banking system in the form of Note 16, which reminded the Supreme Leader not to add more duties to the banking system to 350 thousand billion Tomans. Reduced.
He continued: “The Ministry of Economic Affairs and Finance has announced 26 strategies to the banking system this year, and we at the Cooperative Development Bank will present the bank’s strategies to the headquarters and the queue until next week.”
He added: “According to one of the clauses of this strategy, the volume of activity in the field of Rial documentary credit and guarantees should be increased by 20%. It seems that with the measures taken by the branches, the amount of guarantee and documentary credit should be at least this year.” Increases by 20%.
According to Fattahi, given that one percent of the facilities must be paid for chain financing, the bank’s deputy for banking operations and technology must make it possible to implement this strategy.
He further stated: considering the capacities of the Cooperative Development Bank in the foreign exchange sector, the volume of activities in this sector should increase by at least 20%.
The Chairman of the Board of Directors of the Cooperative Development Bank emphasized: The processes of payment of micro facilities under 200 million Tomans should be done on an electronic platform. This requires more cooperation from Samat Company and the Bank’s Technology Unit to implement this strategy.
In another part of his speech, Fattahi referred to the situation of the bank in 1995 compared to 1400 and said: the amount of the bank’s capital in 1995 was 796 billion Tomans, which reached 3248 billion Tomans last year. It has already been done that the amount of the bank’s capital will increase by another 400 billion Tomans in the future.
He stated: In 2016, the bank’s resources were about 6 thousand billion tomans, which reached 37 thousand billion tomans at the end of last year.
The Chairman of the Board of Directors of the Cooperative Development Bank, stating that last year we recorded a new record in the payment of facilities, said: The amount of payment facilities last year reached 25,000 billion tomans.
Fattahi continued: “During the last five years, the cost of money has increased from 23.7% to 44.16% with the actions and efforts of all colleagues.”
In the end, he emphasized: the bank’s operations during the last year have been accompanied by profits.
Cooperative Development Bank has provided a successful model of development activity
The Deputy Minister of Cooperatives of the Ministry of Cooperatives, Labor and Social Welfare mentioned the Cooperative Development Bank as a successful model of development activity.
Mehdi Maskani, Deputy Minister of Cooperatives, Ministry of Cooperatives, Labor and Social Welfare, said in a training workshop for staff and provincial managers of the Cooperative Development Bank: “This bank has been successful with a model development approach over the years and this type of activity should be promoted.”
He added: “The role of the Cooperative Development Bank in supporting cooperatives is very important and it is necessary for the bank to provide special programs and plans with the support of the Ministry of Cooperatives to strengthen this sector, as well as playing a role in national plans and mandatory facilities.”
Maskani stated: In a situation where the Cooperative Development Bank is operating on a development and specialized circuit, this bank can be considered as a model in the implementation of Islamic banking because many innovative aspects of Islamic financing and banking. It can be implemented and modeled in the bank.
The Deputy Minister of Cooperatives of the Ministry of Cooperatives, Labor and Social Welfare emphasized: The achievements of cooperatives in the national economy are considerable, 70% of passenger and 40% of the country’s freight is carried out by cooperatives and about 840,000 housing units in National projects, including Mehr housing, have been built through cooperatives, and such achievements can be made public in line with the jihad.
He said: “National Transportation Day has been named based on the role of members of transport cooperatives in transporting goods from Mahshahr port to all parts of the country during the hard and difficult days of the holy defense.”
“The Ministry of Cooperatives, Labor and Social Welfare, the Cooperative Development Bank and the Guarantee Fund are in charge of facilitating and dealing with cooperative affairs, and if cooperatives have been damaged in economic cycles, it is the duty of specialized institutions to solve problems and Untie their work, take measures and use effective solutions.
He said: “The more a movement tends to systematize, although its structure becomes larger, but care must be taken to continue services to the target community in a better way and services are not delayed in the administrative maze cycle.”
He further concluded: It is appropriate that the institutions in charge of the cooperative sector, beyond the administrative structures, treat the cooperatives with a compassionate and supportive approach and provide the necessary grounds to facilitate the businesses of the cooperatives.
“Field studies of successful economies show that people based on information technology infrastructure are responsible for all sectors of the economy, and therefore democratization of the economy is very important,” Maskani said.
The event was also attended by Mohammad Sheikh Hosseini, head of the Cooperative Development Bank, Seyed Baqer Fattahi, chairman, and Mohammad Jafar Irani and Amir Houshang Assarzadeh, members of the bank’s board of directors and the bank’s headquarters and provincial managers.
Digital transformation is the focal point of banking operations
The customer experience is the focal point of the digital transformation, and all banking operations revolve around this concept.
A member of the board of directors of the Cooperative Development Bank announced: The Cooperative Development Bank, as a development financial institution, has made the customer experience one of its priorities.
Amir Houshang Assarzadeh stated: “Today, fintechs and neo-banks are gaining more share of the country’s money market, so it is necessary for banks to take steps to agility to face rapid changes in the business environment.” Give.
He continued: the quality of services provided to the customer will keep former customers and attract new customers.
According to a member of the board of directors of the Cooperative Development Bank, a change in attitudes and beliefs is a prerequisite for a change in the business environment.
He said: “Another prerequisite is to face changes in the business environment and reform and launch the bank’s infrastructure.” Digital transformation can help effectively attract resources in the banking system, he said. In order for the organization to be able to keep pace with developments, it needs to train its human resources, but we must know that we will not go anywhere with the old methods in training.
He added: “In the new business environment, the customer expects the bank to provide the value he expects.” Quick and easy access to services can effectively contribute to the customer experience.
In another part of his speech, a member of the board of directors of the Cooperative Development Bank stated: In order to manage liquidity, it is necessary that the payment of facilities be in line with equipping resources.
In the future, we will have to move to a turnover facility. In another part of his speech describing liquidity management, Assarzadeh said: “Credit policies need to be revised and an operational package and special services should be designed and introduced to attract resources.”
Synergy of Cooperative Development Bank and Cooperative Investment Guarantee Fund facilitates the activities of cooperatives
The CEO of the Cooperative Investment Guarantee Fund announced the synergy of the Cooperative Development Bank and the Cooperative Investment Guarantee Fund to facilitate the activities of cooperatives.
Alborz Mohammadi, CEO of the Cooperative Investment Guarantee Fund, said in a training workshop for staff and provincial managers of the Cooperative Development Bank: “Cooperation between the bank and the fund as two development pillars in the financing processes of the cooperative sector is important.”
He added: “Cooperative sector is an important capacity to advance many development programs and progress of the country, and laying the groundwork to facilitate the activities of cooperatives is one of the tasks of sector development institutions.”
Mohammadi pointed out: Providing guarantee issuance services on an electronic platform and based on digital space is one of the programs before the Cooperative Investment Guarantee Fund.
He added: “The branch network of the Cooperative Development Bank is expected to take sufficient care in submitting facility files for the issuance of guarantees by the fund so that the synergy between the bank and the fund to complete the financial processes of the cooperative sector is achieved more appropriately.”