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An Evaluation of Enterprise Risk management value to banking sector of Zimbabwe - Assignment Example
Finance & Accounting
Pages 22 (5522 words)
An Evaluation of Enterprise Risk management value to banking sector of Zimbabwe Table of Contents 1. Introduction and Background to the Research 3 2. Statement of Problem 5 3. Objectives of Research 5 3.1. Specific Objectives 5 3.2. General Objectives 6 4…
Population and Sample 20 7.3. Data collection instruments, sources and procedures 21 7.4. Data analysis and procedure 23 8. Time Frame and Budgetary Consideration 24 References 26 Bibliography 29 1. Introduction and Background to the Research The Zimbabwean economy has faced tremendous challenges in the banking sector after the liquidity crisis of 2003. The consequences of liquidity crisis declined the purchasing power of Zimbabwean currency at the level of 1953. As a consequence, the people who were extremely poor had to pay with their lives due to inability to cope with persistence economic shock. The Government of Zimbabwe has often been found to make the drought or the macro-economic factors responsible for the liquidity crisis. According to the Reserve Bank the main causes that triggered solvency and liquidity crisis were poor corporate governance, inadequate risk management, rapid expansion, overstatement of capital, creative accounting, speculative trades, high level of non-performing assets, and unsustainable earnings. At the beginning of the year 2009, the multi currency system was adopted by the Government of Zimbabwe that preferred Pound, US$, and Rand as means of transaction by business entities and public. This was mainly because the local currencies had become almost useless since the year 2008. ...
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