The Research and Development Department serves as the think-tank of the Institute. It harbours three units viz:

1. Research
2. Publication
3. Library

The Research Unit initiates and carries out research on banking and finance related areas and the economy at large. It also embarks on policy advocacy on matters affecting the entire banking industry and the economy at large. Good examples are the annual contribution to the making of the national budgets and responses to national calls for memoranda as the needs arise from time to time.

The Department also provides secretariat support to the Sub-Committee on Monetary and Fiscal Policies of the Bankers Committee as well as represents the Institute at the national level as a member of a Sub-Committee that requires policy input.

Functions and Policies

The Research and Development Department of the Institute undertakes the following functions:

1. Serve as think-tank to the Institute by initiating research proposals and other programmes that would lead to the over-all development of the Institute in particular, the banking industry and the economy in general.
2. Carry out specific research exercises and economic and financial studies relating to the needs of the Institute as well as the industry as approved by Management and Council of the Institute from time to time.
3. Prepare lecture papers/speeches for the Institute's major functionaries
4. Organise public lectures, conferences and symposia on current issues of industry and national relevance.
5. Develop a comprehensive and reliable database for the Institute which involves sourcing, collating and organising the data sets to facilitate research analysis and presentation.
6. Organising and classifying the data sets into banking and finance, macroeconomic, socio-economic, business - small and medium sized and so on.
7. Supply data on developments in the banking industry to various institutional and corporate organisations within and outside the industry on request and as approved by management.
8. Collate and maintain the Institute's examination statistics.
9. Develop benchmark performance statistics on banks, using their balance sheets and financial statements.
10. Provide an analytical overview of the banking and finance industry, a publication of key industry indicators.
11. Seek and secure research grants from outside sources to supplement the Institute's grant pool.
12. Administer the Institute's research grant in conjunction with Management.
13. Recommend to Management, in collaboration with the Research and Publications Committee, funding of any research proposal (within or outside the Institute) that is believed would promote sustainable economic development.
14. Provide a research environment and develop a research culture that will attract outside expertise to the Institute for the conduct of research.
15. Undertake collaborative research studies with other departments, agencies or institutes

So far, the Department has carried out a number of research projects including one jointly carried out with other organizations.