Assessment of institutional performance using the European Foundation for Quality Management (EFQM 2025) model: A case study in the Central Bank of Iraq

Abstract

The  research aims to use the European Foundation for Quality Management (EFQM 2025) model to evaluate the institutional performance of the Central Bank of Iraq in order to determine the size of the gap between the actual performance of the Central Bank and the established standards represented by the first criterion: orientation (purpose, vision, strategy, organizational culture, and leadership style), the second criterion: implementation (stakeholder engagement, building sustainable value, performance leadership, and transformation), and the third criterion: results (stakeholder perceptions, strategic and operational performance). This is to help the bank raise efficiency levels and improve functional performance, along with continuous review and development of the training system, to achieve the highest standards of quality and excellence. The research is based on the issues faced by the Central Bank of Iraq, namely the lack of clear standards, insufficient training, and the inability to analyze data appropriately, as well as the benefits these standards bring to the bank and its employees.  The research methodology is based on a case study approach, which includes observation, personal interviews, field experience, and the use of a checklist to reach scientific facts that aid in comprehensive and realistic analysis to arrive at the truths, The research results showed a significant gap between the actual reality of the Central Bank of Iraq and the standards adopted in the model, revealing a gap estimated at 64.48%. The conclusions indicated that applying the European Excellence Model helps improve the institutional performance of the Central Bank of Iraq by enhancing internal processes and developing the services offered. The research provided several recommendations, the most important of which is to establish clear and specific strategies that align with the EFQM model standards to achieve institutional excellence.