The Zarai Taraqiati Bank Limited (ZTBL) on Saturday announced its structural reforms besides, establishing the Anti-Corruption Cell (ACC) to make it more viable, sustainable and transparent commercial entity. ZTBL President Rasheed Akhtar Chughtai while chairing the meeting of senior executives said the process of restructuring would be completed in six to eight weeks.
The reforms will focus on rural finance with the objective to expand its outreach through customer-friendly products and services, he added.
Chughtai said these organisational reforms were undertaken as the ZTBL has been gradually losing its market share for the last many years, which is currently around 34 percent. The agri-credit market is open to strong competition to the extent that even some small financial institutions were extending loans of more than Rs 10 billion per annum, he added.
"Under the new organisational structure, it will be obligatory to all the employees to report corruption cases to the ZTBL president or head of Anti-Corruption Cell", Chughtai said.
He also pointed out the issues facing the Bank were: poor perceived image, deep rooted corruption at every stage of disbursement and recovery, an environment of fear and mistrust, lack of general courtesy and respect towards each other, closed door culture, corporate culture similar to public sector practices and systems, over 600 disciplinary cases 1000 in pipeline, unresolved audit observations for the last 10 years as well as external pressure to implement non-commercial drivers.
Chughtai said the current state of affairs if left unattended will further damage the foundation of the ZTBL and may not able to survive as an organisation for long.
Basic features of the new organisational structure included, abolishment of existing designations, however it would continue till the notification of new plan.
The organisational structure would be on a three-tier management system, senior management-SMT, SEVP, EVP and Area Specialist, Middle Management-SVP, VP, AVP and the lower management included officers and senior officers, he added.
There will be no acting basis positions in the new organisation such arrangement will, however, continue until all the acting charge positions are gradually filled by regular incumbent.
Apprising about the new organisation, the ZTBL president said it would consist of divisions, departments and offices besides certain units, directly reporting to the head. The departments and offices would include central audit and inspection division, company secretary and corporate affairs office, operations division, recovery and SAM division, research and planning division, office of the treasury, accounting operations division, financial accounts and MIS reporting division, risk management office, human resource division, information system division as well as service division.
There would be a complaint and investigation department and compliance office functioning directly under the ZTBL president.
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