Plan to Monitor Banks’ IT Performance

The Monetary and Banking Research Institute, affiliated with the Central Bank of Iran, has in the works a new plan to exert constant supervision over the performance of banks in terms of information technology and communications, the head of research group at the institute said. “All the banks’ info in this regard will be stored and it will be clear how much they have invested in IT in addition to the level of their management’s sophistication in this area,” Mehrdad Sepahvand also told IBENA. According to the official, banks will be able to share the data among themselves to compare their situation while the annual report on their IT performance will be released each year at the Conference on Electronic Banking and Payment Systems scheduled for Jan. 22 in Tehran.