Corporate Performance

IsDBI management continuously monitors, evaluates, and assesses the Institute’s activities. This process helps focus on achieving expected results and facilitates learning from past successes and challenges encountered during implementation.

Within this process, the Corporate Performance Team (CP) monitors and evaluates the ongoing projects and new initiatives of the Institute. The monitoring activities may be designed to operate at varying frequencies: recurring, daily, weekly, monthly, quarterly, annually, or as needed.

Monitoring and evaluation improve managerial decision-making accuracy and increases workflow efficiency. This function delivers ongoing communication, genuine feedback, and alignment of roles, responsibilities, and expectations, which are critical to meeting results and process outcomes.

Effective management of resources is an essential task for the Institute that manages different projects. The optimum utilization of the physical, human, and financial resources increases the economic sustainability of the Institute.

Here are the objectives of this function:

• Enhance the current monitoring framework that is designed to screen quality at different levels, e.g., under implementation, a new initiative, ready for closure, etc.
• Screen the Islamic Finance Grant and capacity-building projects in Member and Non-Member Countries.
• Identify the set of the Results-Based Logical Framework for the projects (strategic actions, outputs, outcomes, and impacts).
• Assess the ongoing projects and assist the teams in designing the tasks to achieve optimal goals.
• Oversee the quality and productivity of the Institute’s resources.

Under this function, the CP Team designs, executes, and implements the grant projects. Operations management involves planning, organizing, supervising processes, and making necessary improvements for higher profitability. The adjustments in everyday operations support the Institute’s strategic goals. Integrating into the IsDBG operations helps the Institute create the highest possible efficiency level within the organization.

Here are the objectives of this function:

• Manage the operations and processes of the Institute.
• Administer the operations management system for the projects
• Review and clearance of the work products and project deliverables (business and system processes)
• Review, clear and complete the disbursements of the operations for the Islamic Finance Grant Projects
• Participate in the “Profitable / Cost-effective” projects within the Institute and IsDBG
• Improving coordinated project and program delivery and management

The CP Team administers budgeting, accounting, and financial management. The Team manages the budgeting process, including budget formulation and execution, variance analysis, and budget strategies such as activity-based costing, revenue forecasting, and capital budgeting.
The main goal of the strategic financial management of IsDBI is to ensure that long-term objectives are appropriately planned to maximize successful outcomes over an extended period. This function provides quality assurance on the Institute’s budget. Setting goals and objectives in the budget process maximizes the impact of the Teams’ deliverables.

Here are the objectives of this function:

• Administrate budget and budget cycle of the Institute.
• Assist the IsDBI units in setting/tracking their budget-settings.
• Review best practices in financial management.
• Create an institutional financial control mechanism, regular budget, and spendable balance monitoring, strategic fund management, and overall fiscal review.
• Management and oversight of the provision of goods and services for IsDBI.
• Generate month-end financial activities on a regular cycle throughout the year.
• Prepare for an efficient year-end close process.

This function ensures the continuation of the Institute’s service provision to its stakeholders. It also supports organizational sustainability and allows for the improvement and scale-up of products and services the Institute currently provides. Partnerships and collaborative relationships contribute to the Institute’s development.

These activities are also critical to delivering results and ensuring the continued provision of high-quality services for the benefit of the Member Countries. The CP develops a comprehensive approach for Sustainable Business Continuity. This approach shapes the goals and expected outcomes.

The CP Team also monitors the projects with resources mobilized to implement the IsDBI’s current guidelines, responsibilities, and accountabilities. The Team identifies need, gathering information, drafting, consulting and review for the formalized requirements that apply to specific areas or tasks. Based on these identifications, the CP develops policies and procedures, which are essential for the long-term prosperity of the Institute’s business.

Here are the objectives of this function:

• Review and follow-up Teams’ resource mobilization plans and strategies.
• Create new IsDBI Resource Mobilization Guidelines with the participation of other Teams.
• Determine the Institute’s active tasks’ purposes and scopes.
• Develop the policies, procedures or guidelines.
• Implement, update and communicate the new/ongoing policies, procedures or guidelines.
• Initiation of the creation of the “The Special Fund for the IsDB Institute”
• Increasing participation in efforts to develop norms and standards.