The document provides information about Jane Murimi's industrial attachment report submitted to the
University of Zimbabwe's Faculty of Commerce. It was completed at the Deposit Protection Corporation
(DPC) from September 2015 to August 2016. DPC is a Zimbabwe government organization that insures bank
deposits up to a maximum of $500 and aims to protect depositors, enhance financial stability, and administer
the Deposit Protection Fund. The report includes details about DPC's operations, mandate, and the activities
Jane participated in during her time in the Bank Resolution department and Risk Assessment department.
INDUSTRIAL ATTACHMENT REPORT BBM_11_11_12 PART 2(1) (1)Brian Bor
The document summarizes the student's internship experience at the Kenya Revenue Authority (KRA) Human Resources department from April to June 2015. The student learned about ethical workplace conduct, time management, and developing work skills like file organization. Specific activities included registry work, processing medical invoices, assisting with employee resourcing and relations issues, and inputting training programs. The internship helped the student apply classroom knowledge and improve communication and interpersonal skills in a professional environment.
Fortune Mushonga Attachment Report Operations Research and Statistics Student...Fortune Fmx Mushonga
Fortune Mushonga Attachment Report at Grassroot Soccer Zimbabwe ..Operations Research and Statistics Student at The National University of science and Technology Zimbawe ,
This document is James Sengu's industrial attachment report submitted in partial fulfillment of a BSc Honors Degree in Statistics at the University of Zimbabwe. It provides an overview of his internship at Population Services International Zimbabwe (PSI/ZIM), including the organizational background, structure, mission, values, programs in areas such as HIV/AIDS, tuberculosis, family planning, and data activities. The report describes James' roles in the Voluntary Medical Male Circumcision department, including developing databases, analyzing data, and reporting. It also outlines the skills gained and recommendations.
The document is a report submitted by Isaac Murambi Muchika on his 3-month industrial attachment at Africa Merchant Assurance Company Limited (AMACO). The report provides an overview of AMACO, including that it is a leading general insurance company in Kenya established in 2000. It also describes the student's responsibilities in the Underwriting department, including policy scheduling, issuance of certificates, documentation, and preparation of quotations. The report evaluates the student's experience at AMACO and provides recommendations to improve the company's operations.
INDUSTRIAL ATTACHMENT REPORT BBM_11_11_12Brian Bor
The document is an industrial attachment report submitted by Brian Kiprotich Bor to fulfill requirements for a Bachelor of Business Management degree. It details his 3-month attachment at the Human Resource department of Kenya Revenue Authority. The report includes an introduction to KRA and its HR department, a description of tasks performed during the attachment, an analysis of skills and knowledge gained, and recommendations.
A REPORT OF THE INDUSTRIAL ATTACHMENT UNDERTAKEN AT LAKE VICTORIA SOUTH WATER...Shikhule Kevin
This report is aimed to provide an overview of what I have done for three months at Lake Victoria South Water Works Development Agency as an attaché in the department of Corporate Services Department and was compiled in the fulfillment of Bachelors of Arts in Communication and Media Technology with IT of Maseno University.
This document provides details about Julius Kipchumba Kemboi's industrial attachment report at Mount Kenya University Eldoret campus. It includes sections on the background of Mount Kenya University, Julius' experiences and tasks during the attachment, the skills and competencies he acquired, and challenges faced. The main tasks Julius performed were assisting with computer repairs and maintenance, setting up new computers, and helping students. He gained skills in troubleshooting, networking, and customer service. Some challenges included technical issues and a heavy workload. In conclusion, Julius states it was a great learning experience despite the challenges.
The document is an industrial attachment report submitted by a student from Koforidua Polytechnic. It summarizes the student's 6-week attachment with Adolescent Friendly & Peer Educators Organization (AFPEO) in Odumase Krobo, Ghana.
The student was appointed as the project coordinator and was involved in various activities including requisitioning funds, collecting and analyzing health data, presenting reports, and monitoring project activities. The report provides details on the organization's background, operations, and the student's responsibilities and contributions during the attachment period.
INDUSTRIAL ATTACHMENT REPORT BBM_11_11_12 PART 2(1) (1)Brian Bor
The document summarizes the student's internship experience at the Kenya Revenue Authority (KRA) Human Resources department from April to June 2015. The student learned about ethical workplace conduct, time management, and developing work skills like file organization. Specific activities included registry work, processing medical invoices, assisting with employee resourcing and relations issues, and inputting training programs. The internship helped the student apply classroom knowledge and improve communication and interpersonal skills in a professional environment.
Fortune Mushonga Attachment Report Operations Research and Statistics Student...Fortune Fmx Mushonga
Fortune Mushonga Attachment Report at Grassroot Soccer Zimbabwe ..Operations Research and Statistics Student at The National University of science and Technology Zimbawe ,
This document is James Sengu's industrial attachment report submitted in partial fulfillment of a BSc Honors Degree in Statistics at the University of Zimbabwe. It provides an overview of his internship at Population Services International Zimbabwe (PSI/ZIM), including the organizational background, structure, mission, values, programs in areas such as HIV/AIDS, tuberculosis, family planning, and data activities. The report describes James' roles in the Voluntary Medical Male Circumcision department, including developing databases, analyzing data, and reporting. It also outlines the skills gained and recommendations.
The document is a report submitted by Isaac Murambi Muchika on his 3-month industrial attachment at Africa Merchant Assurance Company Limited (AMACO). The report provides an overview of AMACO, including that it is a leading general insurance company in Kenya established in 2000. It also describes the student's responsibilities in the Underwriting department, including policy scheduling, issuance of certificates, documentation, and preparation of quotations. The report evaluates the student's experience at AMACO and provides recommendations to improve the company's operations.
INDUSTRIAL ATTACHMENT REPORT BBM_11_11_12Brian Bor
The document is an industrial attachment report submitted by Brian Kiprotich Bor to fulfill requirements for a Bachelor of Business Management degree. It details his 3-month attachment at the Human Resource department of Kenya Revenue Authority. The report includes an introduction to KRA and its HR department, a description of tasks performed during the attachment, an analysis of skills and knowledge gained, and recommendations.
A REPORT OF THE INDUSTRIAL ATTACHMENT UNDERTAKEN AT LAKE VICTORIA SOUTH WATER...Shikhule Kevin
This report is aimed to provide an overview of what I have done for three months at Lake Victoria South Water Works Development Agency as an attaché in the department of Corporate Services Department and was compiled in the fulfillment of Bachelors of Arts in Communication and Media Technology with IT of Maseno University.
This document provides details about Julius Kipchumba Kemboi's industrial attachment report at Mount Kenya University Eldoret campus. It includes sections on the background of Mount Kenya University, Julius' experiences and tasks during the attachment, the skills and competencies he acquired, and challenges faced. The main tasks Julius performed were assisting with computer repairs and maintenance, setting up new computers, and helping students. He gained skills in troubleshooting, networking, and customer service. Some challenges included technical issues and a heavy workload. In conclusion, Julius states it was a great learning experience despite the challenges.
The document is an industrial attachment report submitted by a student from Koforidua Polytechnic. It summarizes the student's 6-week attachment with Adolescent Friendly & Peer Educators Organization (AFPEO) in Odumase Krobo, Ghana.
The student was appointed as the project coordinator and was involved in various activities including requisitioning funds, collecting and analyzing health data, presenting reports, and monitoring project activities. The report provides details on the organization's background, operations, and the student's responsibilities and contributions during the attachment period.
This report summarizes the author's 3-month internship experience at British American Tobacco (BAT) in Malakisi, Kenya. The key responsibilities included preparing goods receipts, documentation of projects, stock checking and forecasting, assisting with the family day event, and helping to organize the annual Battle of Minds business competition. The report also provides background on BAT and tobacco production in Kenya, including the organizational structure, policies and competitors in the region. Organic tobacco production methods are described focusing on transplant production, field growing, harvest, curing and marketing.
The document provides details about the intern's 3-month industrial attachment at the Centre for National Culture in Accra, Ghana. It includes:
- An introduction to the Centre including its mission, departments, staff size, and district offices.
- A description of the intern's duties in various departments like accounting, marketing, and procurement. This involved tasks like data entry, client services, and stock management.
- New knowledge gained around negotiating with customers and handling pressures.
- Challenges faced such as low funds and persuading customers.
- Contributions made by providing additional support and recommendations.
- General observations of employee attitudes and impressions of the learning experience.
Final Internship Report by kiyimba Bill (International University Of East Afr...Bill Kiyimba
An Internship / Field Attachment report sample format for fulfillment of the requirements of the degree in Software engineering, Computer science and Information Technology.
The document provides background information on the internship of Alie Chibwe at Fattani Offset Printers in Malawi. It discusses the objectives of the internship program at Zanzibar University and provides details about Fattani Offset Printers, including its departments and services. It also describes Alie Chibwe's reporting and induction at the organization, the role of the Business Information Technology department, and the department where Alie was assigned to work, which was the IT department known as Mega Graphics.
Paullaster Amolo Okoth completed a 3-month internship at Samasource Kenya from January 4th to April 2nd, 2021. As part of fulfilling the requirements for a Bachelor of Science degree in Information Technology from Multimedia University of Kenya, Okoth gained practical work experience in Samasource's Service Delivery department. During the internship, Okoth worked on coding projects such as a Bluetooth chat application and an API monitoring tool. Okoth also contributed to platform improvements and provided support to agents. The internship provided valuable skills in areas like coding, cloud, web services, problem solving, and agile methodologies. Okoth concluded that the experience was important for their IT career and recommended establishing stronger partnerships between
This document provides details of the author's field attachment at Prideland Tours and Travel (PT&T) in Kisumu, Kenya. It describes the background of PT&T including its vision, mission, and target groups. It then outlines the general activities performed during the attachment such as office administration, customer relationship management, and client bookings. Specifically, it details modules completed including software installation, schedule and restore backups, and data recovery tasks. The report provides insights into the skills and experience gained from the attachment.
A field attachment report to help all those preparing to write a report after completion of their field attachments. I wrote this Myself in 2011, During my first year of study at Zanzibar University, Tanzania.
Internship Report - Corporate Services Department (URA)Oyo Wilfred Robert
This report depicts the activities carried out during internship at Uganda Revenue Authority ( Corporate Services Department) IT division 2018.
Field Supervisors: Solomon John Ddumba, Damiano Kato, Paul Kakaire, Lynette Agaba, Sam Oloya.
Academic supervisor: Abdallah Ibrahim Nyero
The document provides details of the author's industrial placement as an IT technician at a high school. During the placement, the author undertook various IT support tasks including imaging computers, creating user accounts, troubleshooting issues, and installing software. The author also began a mini-project to set up a virtual Linux network to mimic the school's system but was unable to complete it due to time constraints. The document describes several software programs used at the school such as Microsoft Deployment Toolkit, Request Tracker, and PaperCut.
The document is a technical report submitted by Enoma Michael detailing his six-month internship experience at Port Harcourt Refining Company (PHRC) through the Students Industrial Work Experience Scheme (SIWES). It provides background on SIWES and PHRC. Michael's training focused on Cisco networks and troubleshooting systems. He gained practical experience in network maintenance and repair that supplemented his classroom theoretical knowledge.
The document is an internship report submitted by Mohammad Ibrahim, a 3rd year computer science student, about his internship from June 23, 2015 to July 24, 2015 at Atlas Battery's Infrastructure, Networking and Database department. It includes an introduction, objectives of the internship, acknowledgments, details about Atlas Battery's culture, hierarchy and systems. It also provides information on various technologies used like ERP, routing, switches, data centers and standards for PC installation. The report summarizes Mohammad Ibrahim's achievements and experience during the internship.
This technical report summarizes the author's experience during a six-month internship at Nokia Siemens Networks in Lagos, Nigeria. The report covers topics such as the fundamentals of telecommunications, different telecommunication systems like fixed and mobile networks, and the architecture and implementation of GSM networks. It also describes projects undertaken at mobile network sites and learning experiences working with transmission equipment at Nokia Siemens Networks. The report aims to fulfill the requirements for the Student Industrial Work Experience Scheme (SIWES) as part of the author's undergraduate degree in electrical and electronics engineering.
Kaaahwa Armstrong completed a field attachment at Uganda Broadcasting Corporation (UBC) from June to August 2016. During this time, they worked under the supervision of several managers in the IT department. Their duties included networking tasks like cable termination, router configuration, and setting up local area networks. They also installed and configured operating systems, databases, and websites. Through hands-on experience with computer repair, networking, and software installation, Armstrong gained valuable practical skills to supplement their university computer science education. While the attachment provided valuable learning opportunities, challenges included limited equipment and understanding new technical concepts. Overall, the internship helped Armstrong apply their academic knowledge in a real-world work environment.
This report summarizes the student's practical training experience at the Tanzania Revenue Authority (TRA). It describes TRA's organizational structure, functions, and departments. It also outlines the student's duties in the Post Clearance Auditing department, including verifying customs declarations and invoices. Some challenges encountered were inadequate computers, limited access to information, and an outdated filing system. The student gained new skills in auditing, but found gaps between the theoretical concepts taught and practical applications. Recommendations include restructuring the IT curriculum and increasing time for hands-on training to better prepare students.
The document is an internship report submitted by Surafel Teshome to the Department of Computer Science at Dilla University in partial fulfillment of a Bachelor of Science degree in Computer Science. The report details Surafel's 45-day internship at the Ministry of Women and Social Affairs (MoWSA) IT Directorate from July 27 to September 15, 2022. During the internship, Surafel worked in various IT-related sections, performing tasks like hardware maintenance, network installation, and database management. The report is organized into chapters covering the organization profile, internship experience, SWOT analysis, conclusions, and recommendations.
This document is a report on the student's industrial training experience at Future Technology. It includes an introduction to Future Technology and describes the student's duties assisting with IT support and network administration. The bulk of the report focuses on a project to create a secure local area network for Future Technology, detailing the network design, devices used, security configuration and concluding that practical experience like industrial training is valuable for students.
This is my report that i did for my industrial placement or what one would call internship. It has some detailed information that can help anyone in the field of IT.
It has all sorts of topics like networks, systems administration and many others.
This report summarizes Richard Chalamilas' six-week industrial training at Tanzania Telecommunication Company Limited (TTCL). The training focused on network printer installation, configuration, and troubleshooting. Richard learned to connect printers to networks, assign IP addresses, and add printers to computers. He also studied common printer problems like paper jams and low quality prints. The report describes printer maintenance techniques and provides steps for troubleshooting printers. Overall, the training helped Richard gain practical skills in network printers that will benefit his future career.
Effect of managerial skills on operational performance in national cement sha...melakelimenih
This document is a thesis submitted by Zelalem Mengistu Limenih to Dire Dawa University in partial fulfillment of the requirements for a Master of Business Administration degree. The thesis examines the effect of managerial skills on operational performance at National Cement Share Company in Ethiopia. It includes an introduction outlining the background, problem statement, objectives and significance of the study. It also contains chapters on the literature review and conceptual framework that will guide the research.
This document provides a summary of SNL Financial and International Financial Reporting Standards. SNL Financial is a premier provider of financial data and analysis covering various industries such as banking, insurance, financial services, real estate, energy, and media & communications. The document discusses SNL's current industry coverage, products, and solutions. It also provides an overview of International Financial Reporting Standards (IFRS), including the key standards, adoption around the world, and advantages and disadvantages of conversion.
This report summarizes the author's 3-month internship experience at British American Tobacco (BAT) in Malakisi, Kenya. The key responsibilities included preparing goods receipts, documentation of projects, stock checking and forecasting, assisting with the family day event, and helping to organize the annual Battle of Minds business competition. The report also provides background on BAT and tobacco production in Kenya, including the organizational structure, policies and competitors in the region. Organic tobacco production methods are described focusing on transplant production, field growing, harvest, curing and marketing.
The document provides details about the intern's 3-month industrial attachment at the Centre for National Culture in Accra, Ghana. It includes:
- An introduction to the Centre including its mission, departments, staff size, and district offices.
- A description of the intern's duties in various departments like accounting, marketing, and procurement. This involved tasks like data entry, client services, and stock management.
- New knowledge gained around negotiating with customers and handling pressures.
- Challenges faced such as low funds and persuading customers.
- Contributions made by providing additional support and recommendations.
- General observations of employee attitudes and impressions of the learning experience.
Final Internship Report by kiyimba Bill (International University Of East Afr...Bill Kiyimba
An Internship / Field Attachment report sample format for fulfillment of the requirements of the degree in Software engineering, Computer science and Information Technology.
The document provides background information on the internship of Alie Chibwe at Fattani Offset Printers in Malawi. It discusses the objectives of the internship program at Zanzibar University and provides details about Fattani Offset Printers, including its departments and services. It also describes Alie Chibwe's reporting and induction at the organization, the role of the Business Information Technology department, and the department where Alie was assigned to work, which was the IT department known as Mega Graphics.
Paullaster Amolo Okoth completed a 3-month internship at Samasource Kenya from January 4th to April 2nd, 2021. As part of fulfilling the requirements for a Bachelor of Science degree in Information Technology from Multimedia University of Kenya, Okoth gained practical work experience in Samasource's Service Delivery department. During the internship, Okoth worked on coding projects such as a Bluetooth chat application and an API monitoring tool. Okoth also contributed to platform improvements and provided support to agents. The internship provided valuable skills in areas like coding, cloud, web services, problem solving, and agile methodologies. Okoth concluded that the experience was important for their IT career and recommended establishing stronger partnerships between
This document provides details of the author's field attachment at Prideland Tours and Travel (PT&T) in Kisumu, Kenya. It describes the background of PT&T including its vision, mission, and target groups. It then outlines the general activities performed during the attachment such as office administration, customer relationship management, and client bookings. Specifically, it details modules completed including software installation, schedule and restore backups, and data recovery tasks. The report provides insights into the skills and experience gained from the attachment.
A field attachment report to help all those preparing to write a report after completion of their field attachments. I wrote this Myself in 2011, During my first year of study at Zanzibar University, Tanzania.
Internship Report - Corporate Services Department (URA)Oyo Wilfred Robert
This report depicts the activities carried out during internship at Uganda Revenue Authority ( Corporate Services Department) IT division 2018.
Field Supervisors: Solomon John Ddumba, Damiano Kato, Paul Kakaire, Lynette Agaba, Sam Oloya.
Academic supervisor: Abdallah Ibrahim Nyero
The document provides details of the author's industrial placement as an IT technician at a high school. During the placement, the author undertook various IT support tasks including imaging computers, creating user accounts, troubleshooting issues, and installing software. The author also began a mini-project to set up a virtual Linux network to mimic the school's system but was unable to complete it due to time constraints. The document describes several software programs used at the school such as Microsoft Deployment Toolkit, Request Tracker, and PaperCut.
The document is a technical report submitted by Enoma Michael detailing his six-month internship experience at Port Harcourt Refining Company (PHRC) through the Students Industrial Work Experience Scheme (SIWES). It provides background on SIWES and PHRC. Michael's training focused on Cisco networks and troubleshooting systems. He gained practical experience in network maintenance and repair that supplemented his classroom theoretical knowledge.
The document is an internship report submitted by Mohammad Ibrahim, a 3rd year computer science student, about his internship from June 23, 2015 to July 24, 2015 at Atlas Battery's Infrastructure, Networking and Database department. It includes an introduction, objectives of the internship, acknowledgments, details about Atlas Battery's culture, hierarchy and systems. It also provides information on various technologies used like ERP, routing, switches, data centers and standards for PC installation. The report summarizes Mohammad Ibrahim's achievements and experience during the internship.
This technical report summarizes the author's experience during a six-month internship at Nokia Siemens Networks in Lagos, Nigeria. The report covers topics such as the fundamentals of telecommunications, different telecommunication systems like fixed and mobile networks, and the architecture and implementation of GSM networks. It also describes projects undertaken at mobile network sites and learning experiences working with transmission equipment at Nokia Siemens Networks. The report aims to fulfill the requirements for the Student Industrial Work Experience Scheme (SIWES) as part of the author's undergraduate degree in electrical and electronics engineering.
Kaaahwa Armstrong completed a field attachment at Uganda Broadcasting Corporation (UBC) from June to August 2016. During this time, they worked under the supervision of several managers in the IT department. Their duties included networking tasks like cable termination, router configuration, and setting up local area networks. They also installed and configured operating systems, databases, and websites. Through hands-on experience with computer repair, networking, and software installation, Armstrong gained valuable practical skills to supplement their university computer science education. While the attachment provided valuable learning opportunities, challenges included limited equipment and understanding new technical concepts. Overall, the internship helped Armstrong apply their academic knowledge in a real-world work environment.
This report summarizes the student's practical training experience at the Tanzania Revenue Authority (TRA). It describes TRA's organizational structure, functions, and departments. It also outlines the student's duties in the Post Clearance Auditing department, including verifying customs declarations and invoices. Some challenges encountered were inadequate computers, limited access to information, and an outdated filing system. The student gained new skills in auditing, but found gaps between the theoretical concepts taught and practical applications. Recommendations include restructuring the IT curriculum and increasing time for hands-on training to better prepare students.
The document is an internship report submitted by Surafel Teshome to the Department of Computer Science at Dilla University in partial fulfillment of a Bachelor of Science degree in Computer Science. The report details Surafel's 45-day internship at the Ministry of Women and Social Affairs (MoWSA) IT Directorate from July 27 to September 15, 2022. During the internship, Surafel worked in various IT-related sections, performing tasks like hardware maintenance, network installation, and database management. The report is organized into chapters covering the organization profile, internship experience, SWOT analysis, conclusions, and recommendations.
This document is a report on the student's industrial training experience at Future Technology. It includes an introduction to Future Technology and describes the student's duties assisting with IT support and network administration. The bulk of the report focuses on a project to create a secure local area network for Future Technology, detailing the network design, devices used, security configuration and concluding that practical experience like industrial training is valuable for students.
This is my report that i did for my industrial placement or what one would call internship. It has some detailed information that can help anyone in the field of IT.
It has all sorts of topics like networks, systems administration and many others.
This report summarizes Richard Chalamilas' six-week industrial training at Tanzania Telecommunication Company Limited (TTCL). The training focused on network printer installation, configuration, and troubleshooting. Richard learned to connect printers to networks, assign IP addresses, and add printers to computers. He also studied common printer problems like paper jams and low quality prints. The report describes printer maintenance techniques and provides steps for troubleshooting printers. Overall, the training helped Richard gain practical skills in network printers that will benefit his future career.
Effect of managerial skills on operational performance in national cement sha...melakelimenih
This document is a thesis submitted by Zelalem Mengistu Limenih to Dire Dawa University in partial fulfillment of the requirements for a Master of Business Administration degree. The thesis examines the effect of managerial skills on operational performance at National Cement Share Company in Ethiopia. It includes an introduction outlining the background, problem statement, objectives and significance of the study. It also contains chapters on the literature review and conceptual framework that will guide the research.
This document provides a summary of SNL Financial and International Financial Reporting Standards. SNL Financial is a premier provider of financial data and analysis covering various industries such as banking, insurance, financial services, real estate, energy, and media & communications. The document discusses SNL's current industry coverage, products, and solutions. It also provides an overview of International Financial Reporting Standards (IFRS), including the key standards, adoption around the world, and advantages and disadvantages of conversion.
Risk management using Derivatives as a toolKrutiShah114
This document explains the basics of risk, derivative tools and how these tools can be used to manage risk in an organisation. It has real life case studies showing how companies have failed by using derivatives incorrectly. The document also has a success case study wherein a company had effectively used derivatives to manage its risk.
- The document is an internship report submitted by Uwineza Ernest, who completed an internship at COPEDU LTD in Rwamagana, Rwanda from August 1st to September 9th, 2016. It provides background on COPEDU LTD, including their mission, vision, objectives, products, and services. It then describes the student's job responsibilities in customer service and loan services during the internship. Finally, it discusses three key learning experiences: the student's first day, dealing with a difficult customer situation, and what to do when tasks were complete.
Determinants of Bank Profitability in Bangladesh Md. Ali Ridwan
This paper intends to investigate the various bank-specific and macroeconomic forces that play a
major role in the profitability of banks in Bangladesh. The paper considers liquidity,
capitalization, size, credit risk, and inflation as forces behind bank profitability and examines to
what extent do these things affect the profitability of a bank. Data of 5 private commercial banks
during the period of 2013-2017 was used and analyzed in order to generate results.
This paper also acknowledges the fact that the study has limitations. Since it is only conducted on
5 Private Commercial Banks, the study may not represent the most accurate picture of the banking industry.
This internship report summarizes Murungi Alimahad's internship experience at Sugar Corporation of Uganda Limited, specifically in the finance department from June 5th to August 2nd, 2019. The report provides background on SCOUL, including its establishment, mission, organizational structure, activities and stakeholders. It then describes the management of the internship, including induction, assignment to the finance department and roles of the site and university supervisors. Key learnings and contributions during the internship are also summarized.
The document is an internship report submitted by Surafel Teshome to the Department of Computer Science at Dilla University in partial fulfillment of a Bachelor of Science degree in Computer Science. The report details Surafel's 45-day internship at the Ministry of Women and Social Affairs (MoWSA) IT Directorate from July 27 to September 15, 2022. During the internship, Surafel worked in various IT-related sections, performing tasks like hardware maintenance, network installation, and database management. The report is organized into chapters covering the organization profile, internship experience, SWOT analysis, conclusions, and recommendations.
Analysis on financial performance of RSRMAbu Nahiyan
Keeping pace with globalization, Bangladesh is experiencing rapid infrastructural development. In this situation iron & steel industry has a bright growth prospect & Ratanpur Steel Re-Rolling Mills Ltd. is pioneer in this industry. The slogan of the RSRM is “Steel for the nation”.
In this competitive market RSRM using most advanced and latest technology suitable for the production of Termo–Mechanically Treated (TMT) reinforcement bar renowned worldwide for its special features of having strength with high elongation percent and toughness which is not possible in other ordinary reinforcement bars of conventional processes.
Ratanpur Steel Re-Rolling Mills Ltd. was incorporated in Bangladesh as private limited company on 22 April, 1986 as company limited by shares under the Companies Act, 1913 and converted into public limited company on 26 June 2012 under the Companies Act, 1994. The Company is engaged in the manufacturing process of producing various grades of M.S. Deformed Bar (300W/40 Grade, 400W/60 Grade and 500W/TMT) from M.S.Billet and sakes/export of the products and other business related thereto. The Company has set up its Re-Rolling Mills factory at 176, BaizidBostami I/A, BaizidBostami road, Nasirabad, Chittagong, and commenced commercial production from 1986. The Company is listed with Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) as a publicly quoted company. Trading of the shares of the company started in two stock exchanges from 22 September 2014.
Keeping pace with globalization, Bangladesh is experiencing rapid infrastructural development. In this situation iron & steel industry has a bright growth prospect & Ratanpur Steel Re-Rolling Mills Ltd. is pioneer in this industry. The slogan of the RSRM is “Steel for the nation”.
In this competitive market RSRM using most advanced and latest technology suitable for the production of Termo–Mechanically Treated (TMT) reinforcement bar renowned worldwide for its special features of having strength with high elongation percent and toughness which is not possible in other ordinary reinforcement bars of conventional processes.
Ratanpur Steel Re-Rolling Mills Ltd. was incorporated in Bangladesh as private limited company on 22 April, 1986 as company limited by shares under the Companies Act, 1913 and converted into public limited company on 26 June 2012 under the Companies Act, 1994. The Company is engaged in the manufacturing process of producing various grades of M.S. Deformed Bar (300W/40 Grade, 400W/60 Grade and 500W/TMT) from M.S.Billet and sales/export of the products and other business related thereto. The Company has set up its Re-Rolling Mills factory at 176, Baizid Bostami I/A, Baizid Bostami road, Nasirabad, Chittagong, and commenced commercial production from 1986. The Company is listed with Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) as a publicly quoted company. Trading of the shares of the company started in two stock exchanges from 22 September 2014.
Internship Report on Financial Analysis of Delta Life Insurance Company Ltd.Manas Saha
The document provides an overview of Delta Life Insurance Company Ltd., including its history, vision, goals, products and services. Some key points:
- Delta Life was established in 1986 as one of the first private life insurance companies in Bangladesh. It introduced innovative microinsurance products to serve low-income customers.
- The company's vision is to be the premier life insurance company in Bangladesh and serve customers with respect by providing the best solutions.
- Its goals include maximizing value for policyholders and shareholders. Core values focus on trust, understanding, respect, excellence and teamwork.
- Products include ordinary life insurance, Gono Grameen Bima (microinsurance), group life insurance, and health
Oyoo Wilfred completed a 3-month field attachment at Uganda Revenue Authority from June to August 2018 under the supervision of Abdallah Ibrahim Nyero of Makerere University Business School. The report documents Wilfred's activities assisting with business support, systems administration, and IT infrastructure work. Key tasks included setting up internet connectivity, adding computers to the domain, installing operating systems, configuring wireless networks, and setting up centralized authentication and email servers. The field attachment provided valuable practical experience for Wilfred to apply the skills and knowledge gained from his studies in a work environment.
This document provides a summary of Duncan Angwenyi Osieme's field attachment report from May to July at Muigai Commercial Agencies Ltd in Nakuru, Kenya. The report details Duncan's activities and experiences during the attachment period. It includes background information on the organization, its structure and objectives. Duncan's roles involved rent collection, estate management, data analysis and attending staff meetings. Through these activities, he gained practical skills in areas like communication, teamwork and time management. The report also outlines some challenges faced such as tenant conflicts and delays in rent payments. Overall, the attachment helped Duncan apply classroom theory to real work situations.
- Agung Motor (AM) is a used car dealer in Indonesia that wants to increase profitability and market share without large capital investments.
- AM has experienced little growth due to lacking a customer database, market research, and clear future direction.
- This consultancy project aims to understand customer values and formulate a customer-centric business model for AM to provide clarity, a common language, and achieve objectives.
Rezaul Islam-Intership Report New report file create .pdfmosharafhossain65
This internship report summarizes Md. Rezaul Islam's 3-month internship at Starpath Holdings Ltd, a real estate company in Bangladesh. The report analyzes Starpath's real estate business and properties. It discusses the company's history and operations, provides an overview of the real estate industry in Bangladesh, and describes Rezaul's internship duties. The report also identifies issues facing Starpath and makes recommendations to improve its performance.
Rezaul Islam-Intership Report New report file create .pdfmosharafhossain65
This internship report summarizes Md. Rezaul Islam's 3-month internship at Starpath Holdings Ltd, a real estate company in Bangladesh. The report analyzes Starpath's real estate business and properties. It discusses the company's history and operations, provides an overview of the real estate industry in Bangladesh, and describes Rezaul's internship duties. The report also identifies issues facing Starpath and makes recommendations to improve its performance.
BUDGET AND BUDGETARY CONTROL PRACTICES OF SOME SELECTED CREDIT UNIONS WITHIN ...Michael Owusu Ackom
This document is a thesis submitted by Michael Owusu to Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for a Master of Business Administration degree. The thesis examines the budget and budgetary control practices of selected credit unions within the Ashanti Chapter of Ghana. The introduction provides background on the importance of budgeting and budgetary control for organizational performance and the need for credit unions to effectively allocate resources. The study aims to assess whether the budgeting practices of the selected credit unions comply with best practices. It is a multiple case study utilizing interviews to collect data from five credit unions in the Ashanti region.
Effectiveness of using Facebook on increasing the brand awareness; Tharushika Ruwangi
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Similar to JANE MRIMI - R139875W INDUSTRIAL ATTACHMENT REPORT (20)
JANE MRIMI - R139875W INDUSTRIAL ATTACHMENT REPORT
1. D E P O S I T P R O T E C T I O N
C O R P O R A T I O N .
E v e l y n H o u s e , 2 6 F i v e
A v e n u e / C n r B l a c k s t o n e
S t r e e t H A R A R E .
0 4 - 2 5 0 9 0 0 - 1 / 2 5 2 3 3 6
MURIMI JANE
REG NO R139875W
DEPARTMENT OF BUSINESS STUDIES
FACULTY OF COMMERCE
ATTACHMENT REPORT SUBMITTED IN PARTIAL FULFILMENT OF
BACHELOR OF BUSINESS STUDIES-FINANCE AND BANKING
HONOURS DEGREE
(SEPTEMBER 2015-2016)
ACADEMIC MENTOR: MR MATANHIRE
INDUSTRIALMENTOR: MR MANDIZVIDZA W
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DEDICATION
I dedicate this industrial attachment report solely to my darling mother and all my family members for their
encouragement and support.
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ACKNOWLEGEMENTS
I am greatly indebted my supervisors for their priceless mentorship, training, comments, advice and
suggestions during the entire period of the industrial attachment. Without their shrewd expertise in training,
coaching and mentorship this industrial attachment report would not have seen the light of the day. I greatly
appreciate their words of wisdom as they have motivated me up until the completion of industrial attachment
report. I also want to send my words of appreciation to the Faculty of Commerce lecturers and the Industrial
Liason Officer for their efforts in assessing students and looking for attachment place respectively.
I would like to express my sincere gratitude to the management of The Deposit Protection Corporation (DPC)
for giving me an opportunity to undergo a year of industrial attachment, in particular the Business Operations
Department a team of great minds who were willing to share everything they could with us.
I am also compelled to thank all my family members and relatives for all their financial and moral support.
Their support is greatly appreciated as they were unconditionally available during time of need.
Lastly, my special thanks go to all my fellow colleagues whose names are priceless to be mentioned for their
tireless effort and love that has led to the accomplishment of this industrial attachment report. May God bless
you.
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ABSTRACT
This paper provides an analysis of the Industrial Attachment experiences for the period 28 September 2015 to
31 August 2016 at Deposit Protection Corporation for Jane Murimi a student with the University Of Zimbabwe
in the Faculty of Commerce majoring in Finance and Banking. The author was working in the Business
Operations Department which has two departments under it. In the first six months the author was in the Bank
Resolution, Recoveries and Investigation Department and the last six months in the Risk Assessment and
Surveillance Section. The period of learning from outside the campus through industrial attachment is one of
the most important phases of the degree program as it introduces the student to the world of work and gives
them a test of the practical concepts of subject areas which they were only learning in theory and sometimes
imagined to be difficult to explain in theory and how it calls on the student to be diagnostic in applying the
theory onto practical situations. The preparation of this report was done as part of the requirements in third
year of the Bachelor of Commerce Honors Degree in Finance and Banking.
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Table of Contents
DEDICATION...................................................................................................................................................................... ii
ACKNOWLEDGEMENTS.................................................................................................................................................... iii
ABSTRACT....................................................................................................................................................................... ..iv
Table of Contents............................................................................................................................................................. iv
List of Figures .................................................................................................................................................................. vii
List of Tables ................................................................................................................................................................... vii
List of Acronyms............................................................................................................................................................. viii
CHAPTER ONE: INTRODUCTORY CHAPTER .......................................................................................................................1
1.1 Introduction ............... ..............................................................................................................................................1
1.2 Background of Deposit Protection Corporation .........................................................................................................1
1.3 Location ...................................................................................................................................................................3
1.4 Company Objectives................................................................................................................................................3
1.5 Mission Statement,Vision and Core Values.............................................................................................................3
1.6 D.P.C Mandate ........................................................................................................................................................4
1.7 Funding of the DPS ..................................................................................................................................................4
1.8 Maximum Insurable Limit........................................................................................................................................4
1.9 Purpose and Functions ............................................................................................................................................5
1.10 Benefits of D.P.C ....................................................................................................................................................5
1.11 Bank Liquidations and Deposit Reimbursements .................................................................................................6
1.12 Organisational Structure........................................................................................................................................7
1.13 Organisation Stakeholders.....................................................................................................................................8
1.14 Member Banks.......................................................................................................................................................9
1.15 Public Awarenes of D.P.C........................................................................................ Error! Bookmark not defined.
CHAPTER TWO: FINDINGS ..............................................................................................................................................12
2.1 Introduction ..............................................................................................................................................................12
2.2 Background of Deposit Insurance..........................................................................................................................12
2.3 Purpose of Depost Insurance............................................................................................................................14
2.4 Aims and Arguments for the Application of DIS ...............................................................................................15
2.5 Deposit Insurance and Banking Crises ..............................................................................................................15
2.6 Architecture of the Banking Sector...................................................................................................................16
2.7 the Role of the Banking Sector ..............................................................................................................................17
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2.8 Banking Failure in Zimbabwe.................................................................................................................................17
2.9 Deposit Insurance and Moral Hazard ....................................................................................................................19
2.10 Potrait of Deposit Insurance Around the World..................................................................................................20
2.11 Types of Deposit Insurance Schemes ................................................................... 2Error! Bookmark not defined.
2.12 Recent Developments in Deposit Insurance Schemes ......................................... Error! Bookmark not defined.1
2.13 IADI..................................................................................................................................................................23
CHAPTER THREE: TRAINING, RESEARCH AND IMPLEMENTATION..................................................................................26
3.1 Business Operations Department..........................................................................................................................26
3.2 Industrial Attachment Activities .......................................................................................................................27
3.3 Bank Resolution, Recoveries and Investigation Department ...................................................................................28
3.4 The Payout Process................................................................................................................................................29
3.5 Curatorship and Judicial Management of Banks...............................................................................................30
3.6 Risk Assessment and Survaillance Section................................................................................................................30
3.7 Industrial Attachment Activities ............................................................................................................................31
3.8 Bank Supervision and Regulation......................................................................................................................32
3.9 CAMELS Rating Framework.......................................................................................................................................34
3.10 Area for Further Evaluation for the Business Operations Department...............................................................34
CHAPTER FOUR: RELEVANCE OF THEORY TO PRACTICE.................................................................................................36
4.1 Theory Agree to Practice .......................................................................................................................................36
4.2 Evaluation of Industrial Attachment......................................................................................................................37
4.3 Theory Disagreeing with Practice..........................................................................................................................39
4.4 Theory Up to Date .................................................................................................................................................40
CHAPTER FIVE: CONCLUSIONS AND RECOMMENDATIONS ...........................................................................................41
5.1 Problems encountered during the Program.............................................................................................................41
5.2 Organisational Challanges .....................................................................................................................................41
5.3 Recommendations to the Organisation.................................................................................................................42
5.4 Recommendations to the Student.........................................................................................................................42
5.5 General Recommendations to the Organisation...................................................................................................44
5.6 Recommandations to the University ........................................................................................................................45
APPENDIX........................................................................................................................................................................47
REFERENCES....................................................................................................................................................................50
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List of figures
Page
Figure 1 Bank Failure and GDP growth rate 27
List of tables
Table 1.12 DPC Organisational Structure 15
Table 1.14 Member Banks 17
Table 2.16 Recent Establishments of Deposit Insurance Schemes 28
Table 2.13.4 IADI Organisational Chart 33
Table 3.1 Organisational Structure (Business Operations Department) 34
Table 3.3.1 Liquidation Process Flowchart 37
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List of Acronyms
ATM-Advanced Tellers Machine
BAZ-Bankers Association of Zimbabwe
BCBS- Basel Committee on Banking Supervision
CAMELS-Capital Adequacy, Asset Quality, Management, Earnings Liquidity& Sensitivity to Market Risk
CCZ-Consumer Council of Zimbabwe
DI- Deposit Insurance
DIS- Deposit Insurance Systems
DPB- Deposit Protection Board
DPC- Deposit Protection Corporation
EU-European Union
FDIC- Federal Deposit Insurance Corporation
FSB- Financial Stability Board
FSF- Financial Stability Forum
GDP-Gross Domestic Product
IADI-International Association of Deposit Insurers
IADI- International Association of Deposit Insurers
ICT-Information Communication Technology
IMF- International Monetary Fund
IPEC-Insurance and Pensions Commission
MAC- Micro finance Advisory Council
NPL- Non-Performing Loans
RBZ- Reserve Bank of Zimbabwe
SEC -Securities and Exchange Commission
ZAMFI-Zimbabwe Association of Micro-finance Institutions
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CHAPTER 1: INTRODUCTORY CHAPTER
1.1 Introduction
The one year Industrial Attachment program organized by the University of Zimbabwe provides every student
an opportunity to apply the practical, technical skills and knowledge achieved during the course of study in
the industrial environment and to acquire new skills in managing relationships and carrying out the jobs
assigned. It is also an opportunity to improve social, communication and technical skills needed for working
life and a chance to keep abreast with the dynamic changing industry. The training time allows the students to
link the theoretical principles learned in final years in purpose to reach the Bachelor Degree. It gives to the
students the practical skills and the work environment philosophy, to use their skills and principles learned in
class to serve the institutions and the society in general. This chapter gives introduction of Deposit Protection
Corporation, where the author was attached.
1.2 Background of Deposit Protection Corporation
During the periods 2003 to 2004 and 2008, the Zimbabwean financial sector experienced problems that led to
amendments of banking laws and regulations. The problems included speculative practices, 'burning money',
and depositors' rejecting the Zimbabwe dollar. The country operated two currency regimes, local currency
(prior to February 2009) and currently multiple currencies (February 2009 to date). Against a background of
these problems, an explicit deposit insurance scheme was set-up through the Statutory Instrument 29/2003
and administered by Deposit Protection Board (DPB). The need for deposit insurance in Zimbabwe was
underscored by bank failures in the market between 1995-2000 (mainly United Merchant Bank, Universal
Merchant Bank, Zimbabwe Building Society and First National Building Society) and 2000- 2015 (mainly
Royal Bank, Trust Bank, Genesis, Allied Bank, Interfin, AfrAsia and Tetrad Bank. The new Deposit
Protection Corporation Act [Chapter 24:29] has expanded the role of the corporation from that of a “pay-box”
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function, restricted to the role of reimbursing depositors, to that of a fully-fledged risk minimization mandate,
which plays a wider role in enhancing financial stability.
Deposit insurance in Zimbabwe exists in limited form. Pay-outs are mandated only in the event of a bank’s
liquidation, and depositors are largely unaware of its existence. The Deposit Protection Corporation (DPC)
previously known as the Deposit Protection Board was established in July 2003 in terms of the Banking Act
(Chapter 24:20) and the Banking (Deposit Protection) Regulations, Statutory Instrument 19 of 2003, despite
the absence of the basic pre‐ conditions for deposit insurance. It has therefore played a minimal role in past
bank resolutions. Banks play a pivotal role in economic growth and development of all countries', therefore
the stability of the banking system enhances depositors' confidence. Conceptually, a DPS offers a guarantee
to depositors that they will receive partial or total reimbursement of deposits in the event of failure of a bank
or contributory institution. DPC contributes to financial stability and public confidence in the financial system.
As an integral component of an effective financial safety net, a Deposit Protection Scheme enhances consumer
protection by providing explicit protection to depositors.
The DPC is chaired by a Board of Directors consisting of one director to represent the Ministry for which the
Minister is responsible, one director to represent the Reserve Bank, four directors to represent contributory
institutions and the Chief Executive Officer. All licensed deposit taking institutions are required to join the
DPC (preventing adverse selection), and the Board uses partial coverage to minimize moral hazard. Coverage
was increased from Z$ 200,000 (about US$20) to Z$ 5 million (about US$500) in April 2005. Deposit
Protection Scheme (DPS) is part and parcel of the four complementary financial safety nets namely: prudential
regulation and supervision framework; lender of last resort function; a deposit protection scheme (DPS) and
the resolution authority. DPC is an active member of the Microfinance Advisory Council (MAC) which was
established in January 2013. Members of the MAC are mainly drawn from DPC, the Reserve Bank of
Zimbabwe (RBZ), Ministry of Finance, Securities and Exchange Commission (SEC), Bankers Association of
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Zimbabwe (BAZ), Consumer Council of Zimbabwe (CCZ), Insurance and Pensions Commission (IPEC),
Zimbabwe Association of Micro-finance Institutions (ZAMFI) and other development partners.
1.3 Location
DPC is a government owned institution whose head office is in Harare at Evelyn House 26 Fife Avenue Corner
Blakiston Street.
1.4 Company objectives
1.4.1 DPC's Public Policy Objectives
In line with international best practice, the Deposit Protection Corporation (DPC) aims at meeting a number
of objectives which include the following;
Protection of depositors by providing compensation in the event of a bank failure.
Contributing to the stability of Zimbabwe's financial system.
Enhancing public confidence in the financial system by establishing a framework for the resolution of
failing or failed banks.
Administering the Deposit Protection Fund.
Enhancing competition in the financial sector by creating a level playing field through guaranteeing
depositor reimbursements for both big and small banks
1.5 Mission Statement, Vision and Core values
1.5.1 Mission Statement
To protect deposits, enhance public confidence and stability in the financial system by promoting sound
business practices.
1.5.2 Vision
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The vision of the Deposit Protection Corporation is: “To be the centre of excellence in deposit protection.”
1.5.3 Core Values
The Deposit Protection Corporation has its values as ‘accountability, fairness, teaming, integrity, excellence
and transparency.
1.6 DPC's Mandate
As provided for in the law and the public policy objectives, DPC is designed as a risk minimizer. Besides
compensating depositors in the event of a bank failure,
1.7 Funding of the Deposit Protection Scheme
DPC gets its funding from quarterly premium levies collected from member institutions. A flat rate premium
assessment system remains in use to determine the insurance premiums payable by each member institution.
Currently the premium rate remained pegged at 0.3% of an institution’s annual average deposits, payable
quarterly, while the cap of a minimum and maximum annual premium payable amounts of $2 000 and $120
000 per bank was scrapped. Premium contributions from member institutions remain the main source of
funding for the Corporation’s operations during the year. Other funding sources include earnings from
investments and funds levied as penalties from defaulting member institutions.
1.8 Maximum insurable limit (coverage limit)
Currently, the maximum cover level is pegged at US$500.00 per depositor per bank against loss of depositors’
funds in the event of a bank failure. The insurance cover of US$500.00 is more than treble compared to that
of US$150.00 that prevailed in 2012.The prescribed maximum deposit compensation covers in full 90% of all
depositors operating accounts in contributory institutions. The insurance cover was reviewed upwards as part
of the Corporation’s drive to build depositors’ confidence in the banking sector in fulfilment of its mandate to
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contribute towards the stability of the banking sector. Demand, savings, time, class B and class C shares
constituted the insurable deposits. Clients of the closed bank with balances below or equal to $500 will be
reimbursed in full the amount that was in their account at the time of bank closure provided they submit a duly
completed claim form. Any balance above the insurable amount will be paid through the liquidation process
on a pro-rata basis. Amount payable to depositors is reviewed regularly in line with the growth of the Fund
and market conditions.
1.9 Purpose and functions
In terms of the current law, and in conformity with the Public-policy Objectives, the principal objectives of
the DPC’s statutory responsibilities and functions are to: protect depositors; contribute to the stability and
public confidence in the financial system; participate in problem bank resolution; and protecting the Fund
against loss. DPC has a risk minimization mandate and is required, among other responsibilities, to: monitor
and assess risk of members; participate in resolution of failing or failed member institutions; and carryout
special examinations, curatorship and liquidations.
1.10 Benefits of Deposit Protection Corporation
The benefits of a Deposit Protection Scheme (DPS) accrue to both depositors and banks. By insuring the
deposits, a DPS fosters confidence in the banking system, prevents self-fulfilling panics or bank runs thereby
reducing the likelihood of contagion and cascading defaults. A DPS reduces financial uncertainty, thereby
promoting financial intermediation, and enhancing economic and financial stability. Deposit protection
promotes competition by levelling the playing field. Larger banks due to their size, track record and brand
visibility have an edge over smaller institutions in attracting deposits at lower interest rates. A DPS, therefore,
makes depositors of smaller banks feel safe and protected and hence neutralize the advantages of larger banks
over them. Some Deposit Protection Systems have mandates and resources that enable them to inject liquidity
and capital in distressed contributory institutions to avert bank failures.
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Benefits to depositors include free membership, loss minimization, and enhanced financial inclusion, orderly
and prompt reimbursement. A DPS helps to minimise losses to small depositors (the majority) who are most
affected by bank closures, and lack resources & skills to monitor contributory institutions. Regarding free
membership, there is no direct charge to depositors as banks pay the premiums to a DPS. Depositors do not
apply or fill in forms, as deposit protection is automatic once a depositor opens an account with a member
bank. A DPS with a resolution mandate provides orderly exit for failed banks; prompt refund; and protects
interests of large depositors and creditors through the liquidation process.
DPC’s enhanced roles are complementary to those of the Reserve Bank of Zimbabwe (RBZ) as they serve the
same objective of contributing to financial stability. Accordingly, the law requires DPC to exercise its mandate
in consultation with RBZ. While some see DPC involvement as duplication of effort, there is potential to
enhance alertness of the safety net players in several ways including: eliminating existence of a single point
of failure, enhanced regulatory objectivity, accountability transparency, and reduced opportunities for
regulatory arbitrage, failure or capture. Internationally, coordination and co-operation among safety net
players is further enhanced via mutually agreed memoranda of understanding
1.11 Bank liquidations & Deposit Reimbursements
One of the key mandates of a deposit insurance system is the obligation to make timely reimbursements to
depositors when a bank is closed. A deposit insurer’s effectiveness, efficiency and capability to meet this
mandate are critical for financial stability and confidence in the banking system. In pursuance of its mandate,
as at 31 December 2013, the Deposit Protection Corporation (DPC) had compensated depositors of five failed
banking institutions, which were subjected to liquidation, namely: Century Discount House (CDH), Rapid
Discount House (RDH); Sagit Finance House (SFH); Genesis Investment Bank and Royal Bank Payments to
Genesis, Royal, and Trust depositors are still on-going.
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1.12 Organisational Structure
Table 1.12 DPC Organisational Structure
At the top of the organizational chart is the Board of Directors. The Board of Directors of the Deposit
Protection Corporation according to the Deposit Protection Act consist of a representative from the Reserve
Bank, who in this case is the deputy Governor of the Reserve Bank (Charity Dhliwayo), a representative from
DPC, specifically the Chief Executive Officer. The current CEO is Mr John Mafungei Chikura who has been
with the organisation since its inception and is also part of the IADI executive board and also a representative
from the Finance Ministry. During the course of the attachment, Dr S. Mahlahla is representing the Ministry
being a Director (National Planning Agency) in the Ministry of Finance Economic Planning and Development.
That being the case, he is the chairman of the Board of Directors. The board also consists of four
representatives from the contributory institutions. The next level on the organizational Chart is held by the
other directors namely the Business Operations Director, Finance and Administration Director and the
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Corporate Secretary. Below the director level is the managerial level. Lastly below this managerial level are
the various officers and staff personnel.
1.13 Organisation stakeholders
The main stakeholders of the Deposit Protection Corporation are the contributory institutions (which are the
insured member banks), bank depositors (who get compensated by the DPC upon closure of a bank), the
Reserve bank, the Finance Ministry and other members of the financial safety net. Bank depositors are more
interested in the DPC after a bank fails. It is then that the Corporation becomes most useful to them as they
can claim their money with the DPC. The Reserve Bank of Zimbabwe is another stakeholder of the DPC. It
works hand in hand with the Corporation and provides information on banks to the DPC. The Reserve Bank
is mainly responsible for monitoring operational banks whilst the DPC takes over from the time of closure
until final liquidation.
1.14 Member banks
Membership is mandatory by law for all deposit-taking institutions registered under the Banking Act (Chapter
24:20) and Building Societies Act (Chapter 24:21).Currently membership includes all commercial banks,
merchant banks, building societies, discount houses, finance houses and deposit-taking micro-finance banks.
Deposits with POSB are currently not covered by the DPC. They are separately covered under the POSB Act
(Chapter 24:22).Deposits with Asset Managers are currently not covered by the DPC. All member institutions
can be identified by means of membership certificates in all banking halls, membership stickers on door
entrances, ATM areas, ATM screensavers, membership signs on website homepages and mention of
membership in all forms of advertising (radio, television, print and outdoor signage).
During 2013, the number of institutions insured by the Deposit Protection Corporation (DPC) declined from
24 to 23 following the cancellation of Trust Bank Corporation’s operating licence by the Reserve Bank of
Zimbabwe (RBZ) on 6 December 2013. The licence was cancelled by the Registrar of Banks in terms of
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Section 14 of the Banking Act [Chapter 24:20]. As at 31 December 2013 membership to the Deposit Protection
Fund consisted of seventeen (17) commercial banks, two (2) merchant banks and four (4) building societies.
These are banking institutions registered in terms of the Banking Act [Chapter 24:20] and the Building
Societies Act [Chapter 24:02].
1.14.1 Deposit taking Micro Finance Institutions
The Microfinance Act was promulgated in 2013 and it has provisions for the licensing and supervision of
deposit taking micro finance banks in order to eradicate financial exclusion. In recent years, there has been an
increased realization throughout the world that micro finance plays a critical role in economic development
and poverty alleviation. In terms of the Micro-finance Act, it is now mandatory for every deposit-taking micro-
finance institution to be a member of the Deposit Protection Scheme. The provision of deposit insurance to
deposit taking micro-finance banks will encourage small savers to use the formal banking system thereby
promoting financial inclusion of small unsophisticated depositors
Table 1.14 Member Banks
Commercial Banks Building Society Merchant
Banks
Micro –Finance Institutions
Agribank CBZ Building Society Tetrad Get Bucks
Bank ABC Central Africa Building Society
(CABS)
Afro Century
Barclays Bank of
Zimbabwe
FBC Building Society (formerly
Zimbabwe Building Society)
Collerhedge Finance
CBZ Bank Limited ZB Building Society (formerly
Intermarket Building Society)
Ecobank National Building Society
FBC Bank Limited
MBCA Bank Limited
Metbank
NMB Bank Limited
Stanbic Bank of
Zimbabwe Limited
Standard Chartered
Bank of Zimbabwe
Steward Bank
ZB Bank Limited
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1.15 Public awareness of Deposit Protection Corporation
1.15.1 DPC Public Awareness Initiatives
As part of its public policy objectives, the DPC is mandated to inform the public about its existence, its duties
and roles in protecting depositors and the depositors’ rights in relation with the DPC. In line with this objective,
the DPC requires all member banks to have the DPC certificate in their banking halls showing that they are
members of the DPC and are covered by the system. The DPC logo is also placed on the banks’ screensavers,
charts or wherever the bank is marketing itself. This is a good way of marketing the Corporation without
incurring any extra costs for the company. Together with this, the DPC makes it a point to attend the Trade
Fair annually and all such programs which offer a platform for the public to learn more about the organisation.
As part of DPC‘s efforts to increase public awareness to students and academic staff in tertiary institutions,
the Corporation delivered a public lecture to Law of Banking and Negotiable Instruments students in the
Faculty of Law at the University of Zimbabwe on the 4th
of May 2016.Recently, the CEO was at the University
of Science and Technology (NUST) conducting a public lecture on deposit insurance. Of late, he has also been
having interviews with local radio stations on the roles of the DPC. As a government institution the DPC has
also taken part in Social Responsibility and donated food and clothes to a local children’s home. A face-book
page and a website (www.dpcorp.co.zw) are also available with the latest information concerning the DPC
and banks currently under liquidation.
In order to develop effective public awareness campaigns, DPC conducts independent surveys to ascertain
awareness levels, perceptions, attitudes, brand image and media consumption habits of key target audiences
and sub-groups: general population (banking and non-banking); media practitioners; students; staff from
member institutions; regulators; legislators and business owners. DPC key messages focus on: the benefits
and limitations of the DPS; limits and scope of coverage; reimbursement processes; claims procedures;
membership; basic contact information of DPC; the corporate profile of DPC and its mandate. DPC’s public
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awareness programmes aim for effective outreach to the public at the most cost-efficient media level through
the adoption of integrated marketing communication tools; taking cognizance of differences in social levels,
geographical locations, culture, financial and educational backgrounds. In order to meet its stated
communication objectives, DPC utilizes events marketing, corporate social responsibility initiatives,
traditional media and digital marketing tools.
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CHAPTER 2 FINDINGS
2.1 Introduction
A lot has been written about Deposit Insurance (DI) with different approaches on the subject. This chapter
will give an insight into empirical research and theoretical information pertaining the purpose of deposit
insurance, portrait of DI around the globe, aims and arguments for the application of Deposit Insurance
System, types of DI and Moral Hazard across in finding out how best can effective deposit insurance benefit
developing countries such as Zimbabwe. It will give an insight into the effect of DI towards the activities of
financial institutions. The chapter will also give an outline of possible theories of DI that countries adopt in
their pursuit of achieving stability in the banking sector. Moreover the chapter will give detailed information
on International Deposit Insurance such as the International Association of Deposit Insurers (IADI). In
addition the chapter will also classify the importance of the DI that makes it an important sector for concern
in any economy.
2.2 Background of Deposit Insurance
The first scheme of deposit insurance was set up in the U.S. in 1934, with the formation of the Federal Deposit
Insurance Corporation (FDIC). FDIC is the official organization established by the U.S. federal government,
established as a response to the failure of many banks during the Great Depression in the early 1930s (Rose,
2002). Creation and development of the global economic crisis in 2008, in addition to the increased restrictions
in the economic sphere by the U.S.A. and the European Union, have caused the expansion and coverage of
their deposit insurance schemes. The International Association of Deposit Insurer cites that there were 100
countries with almost 140 explicit schemes and another 19 countries with one scheme, in 2008
(uuu.iadi.org/deposit.html). It is characteristic that in the middle of the great global economic crisis, China
and New Zealand have announced the introduction of the deposit insurance system, as well as the application
of the insurance scheme to 20 countries at the end of 2008, which actually did not have any explicit scheme
of deposit insurance.
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Over the years financial intermediaries have become a significant aspect of the Zimbabwean economy. Banks
are unique businesses, not only as guarantors of deposits, but also as suppliers of capital. The banking industry
is the heart of the economic development of any country. Its role to sustainable development is enormous,
because of its intermediary roles in an economy. The availability of banking infrastructure is considered as
one of the prerequisites for rapid and balanced development of any country. The stability of banking system
in the financial market is provided in two levels, via basic security and via additional security. The basic
security of banking system is provided by the system of bank auditing and regulation, whereas additional
security is provided by the realization of the deposit insurance system in credit institutions. Nowadays, the
system of deposit insurance (deposit savings), along with the central bank institution and the super auditing
of the banking system, represents an important base of the majority of developed finance systems.
2.2.1 Deposit Insurance: Empirical Evidence
An extensive body of economic theory analyses the benefits and costs of deposit insurance and explores how
balancing these benefits and costs can produce an optimal deposit insurance system. Empirical evidence on
the actual operation and design of deposit insurance systems is relatively scarce and limited in geographic
coverage. An adequate body of cross-country econometric research is just emerging. Empirical research
addresses five questions about the design and effectiveness of individual country deposit insurance systems
and about the circumstances that might lead a country to establish an explicit scheme.
2.2.2 Deposit Insurance
Deposit insurance guarantees to the depositors that their deposits will be partially or totally repaid in case of
a banking crisis. If a depositor is afraid that his funds are not available at any moment, it can provoke panic
which can turn into a huge banking crisis, usually spread even to the major banks by the ”domino effect”. The
result of panic is that the access to credits is severely restricted; the depositors lose access to their funds, which
imposes a heavy obligatory burden to the economy, bearing in mind the costs of the system recapitalization.
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(Bernanke 1983) Apart from that, effective deposit protection requires an appropriate balance of explicit
(funds for repayment) and implicit elements (bailouts, state guarantee, lender-of-last- resort measures) (Bruni,
2009). Whereas explicit forms depend less upon fiscal support, they impose higher costs upon banks. Implicit
systems, on the contrary, built on state guarantees and thus tax revenues, but limit costs to credit institutions
and hereby allow crippled banks to continue business. Perils of moral hazard are found with both forms (Ayadi
& Lastra, 2010; Hardy & Nieto, 2011). Some studies find effective protection to require a combination of
limited deposit insurance and prudential supervision.
2.3 Purpose of Deposit Insurance
The principal policy objectives of deposit insurance are to protect depositors and to contribute to financial
stability. The first objective relates to the presumed inability of ordinary depositors to assess and monitor on
an ongoing basis the riskiness of the institutions that are holding their deposits. In this light, deposit insurance
ensures the safety and liquidity of the deposits of those small depositors that can least afford losses, such as
retail and small business. The second objective is motivated by the view that the banking system is inherently
fragile. This assertion is supported by looking at the banks’ business model of funding long term illiquid assets
with shorter term liabilities. A welcomed benefit from deposit insurance is that it discourages regulatory
forbearance of problem institutions. The existence of reserves, in conjunction with logical exit procedures,
gives supervisors greater freedom to safely allow troubled institutions to fail without substantial loss to the
mass of depositors. It is important to note that deposit insurance, by itself, is not intended to deal with systemic
crisis; that is the role of governments. In addition deposit insurance schemes were never designed to solely
bear the costs of dealing with systemic failures. Rather it is an integral part of the financial safety net which
includes prudential regulation and supervision and a lender of last resort
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2.4 Aims and Arguments for the Application of Deposit Insurance System
The Working Group on Deposit Insurance, established by ”The Financial Stability Forum” identified the goals
of public policies for the insurance of savings deposits and schemes, which can be elaborated on the following
three broad categories (2001):
Those which contribute to the stability of the financial system;
Those which contribute to the protection of small depositors;
Those which contribute to increasing the ability of regulators to achieve other related policies.
Other goals include the development of formal mechanisms for resolving the problems of banks. They also
contribute to the mechanism of payment, or avoiding and quick resolving of the financial crisis,” The Financial
Stability Forum” group identified key attributes of an effective deposit insurance system, which are given
below in summary form (Guryay, 2007)
2.5 Deposit Insurance and Banking Crises
During the last two decades, waves of systemic banking crises have affected most of the countries around the
globe, both developed and developing countries have endured severe banking crises. The waves have struck
developed and developing countries alike, resulting in 112 episodes of systemic crisis in 93 countries and 51
episodes of borderline crisis in 46 countries (Caprio and Klingebiel, 1999). The U.S. savings and loans (S&Ls)
debacle, the Chilean banking crisis in the 1980s, the Argentine and Mexican crises in the mid-1980s and
1990s, as well as the financial stress in Asia and Russia are only a few examples. At all times and, particularly,
in order to avoid banking crises, regulators need to find ways to promote prudent behaviour by banks. The
standard recommendation is for countries to tighten supervision and prudential regulations are the first to use
a cross-country database to study the link between deposit insurance and financial crises. Their model of
banking crisis uses 1980–1997 data from sixty-one countries. After controlling for numerous other
determinants, they find that weaknesses in deposit insurance design increase the likelihood that a country will
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experience a banking crisis. More precisely, deposit insurance significantly reduces banking stability in
countries whose contracting environment is poorly developed, but in stronger environments deposit insurance
schemes have little significant effect on stability.
2.6 Architecture of the Banking Sector
The Zimbabwean banking industry is divided into five groups. They are grouped according to their main
functions. We have the commercial banks that carry out the business through network of branches, agencies
and mobile facilities. The banks offer the current and deposit account facilities, and provide loans and
overdrafts to needy business organizations and individuals. They also offer foreign exchange facilities
including accepting foreign exchange deposits (Basil, 2002; Heffernan, 2005 and Somashekar, 2009). In
addition they are involved in financial advice and clearing systems. Then second, we have the merchant banks,
which their function is to provide wholesale banking services to complement the banking facilities extended
by commercial banks. This type of bank is specializing in the money and capital markets.
Merchant banks provide trade financing through acceptance of credit facilities, that is short and medium term
credits. As commercial banks, according to RBZ Monetary Policy (2011), merchant banks can provide
corporate advisory services at a fee, and are involved in underwriting of securities and portfolio management.
They can provide foreign exchange facilities (Basil, 2002; Somashekar, 2009). There are few building
societies in Zimbabwe and they are mainly involved in savings, fixed deposits, a wide range of share deposits
and mortgage lending. Individuals and companies who need to purchase houses and commercial buildings but
not having adequate money may be assisted by those buildings societies through mortgage loans. There is
only one savings bank in Zimbabwe. The bank is involved in offering savings accounts and offer post services
such as telegraph, registered mails and general letters. It has a network of branches dotted around the whole
country (RBZ Monetary Policy 2011).
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2.7 The Role of the Banking Sector
Banking institutions play a unique role in the economic process. Numerous researches have confirmed that
strong linkages exist between financial sector stability and economic growth. The primary functions of banks
entail financial intermediation, liquidity and maturity transformation in supporting the country’s productive
sectors. Banking institutions also have secondary functions which include international trade finance, purchase
and sale of financial instruments, money transfer, provision of letters of credit and guarantees and provision
of custodial services, among others. It is our expectation that the financial sector provide tailored products and
services for the productive sectors of the economy.
In an ailing economy like of Zimbabwe, banking industry plays a very important role. The banks create money
in the Economy by making loans to different economic sectors, thus banks are in the epicenter of capital
formation. The banks, according to Jeucken (1999), receive money and passing it on to productive and needy
sectors. The banks provide short, medium and long term finance to priority sectors. They mobilize people and
economic agents who are reluctant to deposit their money to deposit through offering attractive deposit rates.
Monetisation is one of the important roles played by banks. Monetisation is the process of converting or
establishing something into legal tender and this is the supreme role of the central bank. Monetisation may
also refer to exchanging securities for currency, selling a possession, charging for something that used to be
free or making money on goods or services that were previously unprofitable. Banks have to 186 concentrate
on maybe the rudimentary functions of accepting deposits, ensuring the safe return with the agreed additive,
after utilizing those deposits for its lending activities.
2.8 Bank Failure in Zimbabwe
Zimbabwean financial system had been largely characterized by numerous periods of financial distress as
depicted by a plethora of bank failures as well as by severe deterioration of the whole financial system’s health.
In response to bank collapses that the Zimbabwean economy experienced, so many monetary policy revisions
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have been done by RBZ to reduce these bank failure cases. Upsurge in bank failure cases under a more stable
currency environment are rare, but the Zimbabwean case raised a lot of questions, which justified the need to
deeply investigate sources of bank failures. This is considered an imperative move considering the impact that
bank failures pose to stakeholders outside the banking sector such as investors and depositors, the Zimbabwean
banking sector itself as well as the entire economy.Bank failures remain a problematic phenomenon in
Zimbabwe and banks are being identified as failing when they already collapsed. This late identification of
failed banks in the economy is then increasing banking sector’s fragility considering that the banking sector
is the hub for most financial activities in the financial system
Failure of an individual banking institution introduces the possibility of systemic risk and pose contagion
effect on the whole financial system which might ultimately result in bank runs and hence long-term panics
in the economy. For example, placement of banks under curatorship or judicial liquidation may bring about
undesirable as well as unrecoverable losses to stakeholders outside failed banks. This was evidenced by RBZ
(2013) when it announced that all funds invested with Interfin Bank Limited will remain frozen during the
curatorship period. This engrained panics to stakeholders that were transacting with Interfin and other banking
institutions leading decrease in public confidence. Li (2013) supported this view when indicated that an
increase in bank failures can affect the overall economic health and the stability of a nation. Subsequent bank
failures brings undesirable consequences to stakeholders outside failed banks and the Zimbabwean economy
recorded increases in bank failures with corresponding meltdown in GDP growth rates since 2011 to 2012 as
shown in Figure 1
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Figure 1 Bank Failure and GDP growth rate
As shown by figure below the rate of failing banks have been increasing since 2009 to 2012.
2.9 Deposit Insurance and Moral Hazard
Economists label insurance induced risk taking as ‘‘moral hazard.’’ Moral hazard occurs because sheltering
risk takers from the negative consequences of their behaviour increases their appetite for risk. The importance
of controlling moral hazard in banking has been stressed by academics, but disparaged by many policymakers.
Despite a seemingly positive effect on preventing bank runs, deposit insurance as any insurance activity bears
additional drawbacks. The most evident danger is the principal agent problem, known in insurance as moral
hazard problem. Applying it to deposit insurance, we can predict that excessive guarantees reduce depositors’
incentives to monitor their banks (Prescott, 1999) and rescue their funds to a safer place. Moreover, this
problem also affects counteragent of depositing-lending process. The owners and managers of the insured
bank, knowing that runs are unlikely, may perform risky operations and reduce the amount of reserves they
hold as an insurance instrument against financial shocks. In addition to a direct effect, moral hazard problem
could and should be examined as a multi-tier process. Many other parties are affected indirectly by a deposit
protection contract and they, too, may become subject to moral hazard (Garcia, 1999).
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2.10 Portrait of Deposit Insurance around the World
An optimal worldwide blueprint of Deposit Insurance is not likely to be found. Of the approximately 220
countries in the world, about half of them have already established or plans to establish deposit insurance
schemes. In spite of the relevant problems linked to deposit protection, most advanced countries have adopted
an explicit scheme of bank deposit insurance. Recent surveys conducted by the IMF and the World Bank show
that Deposit Protection is currently and explicitly a crucial component in the financial safety net of 72
countries around the world (Garcia, 2000). The financial crises experienced in the 80s and the 90s have surely
contributed to the diffusion of explicit systems of deposit insurance in recent times. Deposit Protection is not
offered homogeneously to depositors across countries, as underlined by the investigations performed at the
IMF and the World Bank. The currently adopted schemes differ widely with respect to many dimensions.
Table below shows the increase in deposit insurance schemes around the globe showing an increase in rate of
Deposit Insurance Schemes from 1995 to 2003.
Table 2.10 Recent establishment of Deposit Insurance Schemes
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2.11 Types of Deposit Insurance Schemes
Deposit insurance designs vary widely across countries. Generally, schemes are differentiated by the scope of
the deposit insurer’s authorization, insurance coverage, and the method of funding which includes such
considerations as whether to fund the scheme before or after crisis, and calculation of premium or assessments
to be paid by members. In general, schemes are managed in a government agency and membership is
compulsory. Deposit insurance protection can be either explicit or implicit Kunt and Kane (2006) argued that
explicit deposit protection coverage are contractual obligations while implicit coverage are only conjectural
and exists to the extent political incentives that influence a government’s reaction to large or widespread
banking problems make taxpayer bailouts of insolvent banks seem inevitable. Banking crises puts pressure on
government officials to rescue at least some banks resulting in implicit deposit insurance being applicable in
every country. Although there are some differences between implicit and explicit deposit insurance systems,
their main objectives are basically the same that is to protect depositors and enhance financial system stability.
2.12 Recent Developments in Deposit Protection
The recent Global Financial Crisis has resulted in significant developments in the area of deposit insurance.
Major changes include the following:
i) Higher Coverage Levels - The crisis prompted an increase in coverage limits in some
jurisdictions. The European Union (EU) coverage limit currently stands at 100 000 euros per
individual whilst in the USA, the limit is at US$250 000;
ii) Elimination of co-insurance - most jurisdictions have moved away from the concept of co-
insurance;
iii) Integrated Deposit Protection Scheme - Most jurisdictions in Europe and Asia have introduced
Integrated Protection Schemes to provide protection to insurance policyholders, depositors and
investors in banks and non-bank financial institutions like asset managers and stockbrokers;
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iv) From Pay-box to Risk Minimisation Mandate - Several deposit insures have had their mandates
widened from pay-box to loss minimiser or risk minimiser thereby, in the latter role, assuming an
explicit financial stability mandate involving on-site and off-site prudential oversight
responsibilities as well as assuming a full suite of resolution powers. Examples of jurisdictions
with deposit insurers whose mandates have been broadened to include risk minimisation include
Kenya and Nigeria.
v) Flat Premium Rate versus Risk Based Premium Rate - Risk based premium regimes fosters
discipline among institutions.
vi) Single Customer View Concept - Historically, most Deposit Protection Systems faced the
following challenges when making reimbursements: lack of access to depositor records in advance
of a failure and poor quality of depositor records at banks. Some have pro-actively introduced
mandatory re-configuration of banking institutions Information Technology (IT) infrastructure to
provide a single customer view perspective.
vii) Core Principles of Effective Deposit Insurance Systems - Following the report of the Financial
Stability Forum on Enhancing Market and Institutional Resilience (April 2008), a set of core
principles for effective deposit insurance systems were developed by Basel Committee on Banking
Supervision (BCBS) and the International Association of Deposit Insurers (IADI). The core
principles are broadly categorized into ten groups as follows: setting objectives; mandates and
powers; governance; relationships with other safety-net participants and cross-border issues;
membership and coverage; funding; public awareness; selected legal issues; failure resolution; and
reimbursing depositors and recoveries. These set of principles help deposit insurers to fully execute
their mandates and effectively contribute to financial stability. The Corporation is putting measures
to ensure that it complies with the set principles.
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2.13 International Association of Deposit Insurers (IADI)
The International Association of Deposit Insurers (IADI) was formed in May 2002 to enhance the
effectiveness of deposit insurance systems by promoting guidance and international cooperation. IADI is a
non-profit organization constituted under Swiss Law and is domiciled at the Bank for International Settlements
in Basel, Switzerland, Members of IADI conduct research and produce guidance for the benefit of those
jurisdictions seeking to establish or improve a deposit insurance system. Members also share their knowledge
and expertise through participation in international conferences and other forums. IADI currently
represents 80 deposit insurers from 77 jurisdictions. Another duty that the institution seeks to fulfill is to co-
operate with other international organizations’ involved in finance as it tries to bring stability to the financial
sector and build confidence within the public. The IADI informs and brings to the attention of supervisors and
regulators of financial institutions the core principles that govern deposit insurance systems. This will ensure
that whilst the regulators of financial institutions are fulfilling their duties, they do not set standards which are
in conflict with those of effective deposit insurance.
2.13.2 Member Structure
IADI members represent deposit insurance organizations’. IADI associates represent other safety-net
organizations’ from jurisdictions that have developed or are considering developing a deposit insurance
system. IADI observers are interested parties, such as international organizations’, financial institutions or
professional firms. IADI partners are organizations’ that have entered into a cooperative arrangement with
IADI in order to pursue and further IADI's objectives. Deposit Protection Corporation is an active member
of the International Association of Deposit Insurers (IADI). IADI has four categories of
participation. Currently, IADI has 80 Members, 10 Associates, and 13 Partners. Members are entitles that,
under law or agreements, have a deposit insurance system and have been approved for membership in the
Association.
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Associates are entities that do not fulfill all of the criteria to be a Member, but are considering the
establishment of a deposit insurance system, or are part of a financial safety net and have a direct interest in
the effectiveness of a deposit insurance system. Observers are not-for-profit entities such as international
organizations’ which do not fulfill the criteria to be an Associate but have a direct interest in the effectiveness
of deposit insurance systems. Partners are not-for-profit entities such as international institutions that enter
into a cooperative arrangement with the Association in the pursuit and furtherance of the Objects of the
Association.
2.13.3 Governance and Organisation
As stipulated in its Statutes and By-laws, the supreme authority in all matters of the Association is the General
Meeting of the Members. IADI is governed by the Executive Council composed of individuals elected by the
Members. Members of the Executive Council must comply with IADI’s Code of Conduct.
The Executive Council is structured as a working body with broad participation encouraged by means of a
committee structure that is largely self-reliant. Seven Standing Committees have been established by the
Executive Council to assist the performance of its activities. Much of IADI’s work is initially addressed
through the Executive Council and, where appropriate, is carried out through the committees and the
Secretariat. All members of the Executive Council serve on at least one of the Association’s seven standing
committees to which other Members and Associates may join. As well, Regional Committees have been
created for Africa, Asia-Pacific, the Caribbean, Eurasia, Europe, Latin America, the Middle East and North
Africa, and North America to reflect regional interests and common issues through the sharing and exchange
of information and ideas.
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2.13.4 IADI Organisational Structure
Table 2.13.4 IADI Organisational Chart
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CHAPTER 3 TRAINING, RESEARCH AND IMPLEMENTATION
This chapter covers all the training and experiences that I have gained during the course attachment.
During the first week of my attachment, my supervisor, my work-mate (another intern) and I went through a
training and induction program. The purpose of this was to introduce us to the main activities that are done in
the Business Operations department particularly the Bank Resolutions department
3.1 Business Operations Department
The Business Operations department is the heart of the Deposit Protection Corporation. It is essentially where
most of the organisation’s activities are carried out. The Business operations department is divided into two,
essentially, Bank Resolutions and Liquidations department and the Risk Assessment and Monitoring
department. At the beginning of our attachment period we were initiated into the Bank Resolutions
department, at the time of writing this report we were yet to move to the Risk Assessment. The sub-
organisational structure for the business operations department is as follows:
Table 3.1 Organisational Structure (Business Operations Department)
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3.2 Industrial attachment activities
Student’s responsibilities in the Bank Resolution Recoveries and Investigation Department
Claim processing
Assisting clients to fill their claim forms.
Checking client’s balances from register.
Receive calls from clients concerning their claims
Checking for auctioned and not auctioned ecocash folders.
Calling clients with queries on their claim forms. Queries include cases were a depositors provide
incomplete information with regards to their bank accounts.
Preparing bank memo and ecocash schedules for Interfin and Afrasia bank.
Sending clients claim and liquidation forms through emails
Meetings
Attending Business Operation meeting every Monday at 8:15 am.
Attending Kingdom second creditors meeting at the Rainbow towers which is in final liquidation
Attended the AfrAsia special Creditors meeting which was held on the 18th
of February 2016 at
Rainbow Towers
Reporting in the Departmental meeting about the AfrAsia Special Creditors Meeting.
Reporting demonetization statistics.
Filling
Filling of previously paid clients.
Filling clients not in the deposit register
Other Activities
Requesting for bank statements for clients
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Sending clients emails of claim and liquidation forms out of Harare.
Preparing Departmental minutes.
Verifying bank assets
Preparation of Liquidation assignments
3.3 Bank Resolutions, Recoveries, Liquidations and Investigation Department
This is the department that is involved in the liquidation process of the banks. The Bank Resolutions
department takes over from the RBZ as soon as a Bank is closed. It basically is the one that is involved in
making the initial compensations of the insurable balance to the depositors after closure; it is also involved in
the liquidation of the bank’s assets and sale thereof of all bank assets and the distribution of the payment
dividend to the creditors of the bank. The bank resolutions department is mainly involved in three main
processes which are namely: the pay-out processes, the liquidation process and Curatorship or judicial
management of banks.
3.3.1 The Liquidation Process
The liquidation process of the bank is a process with many steps and legal procedures. In liquidating a bank
the DPC makes use of an agent who assists in the liquidation process. The liquidation process includes the
following steps:
Cancellation of the bank license;
Appointment of the provisional liquidator;
Granting of a provisional order by the High court;
Certificate of appointment;
Press release;
Hand over take over;
Final Order of Liquidation;
Creditors Meetings;
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Disposal of Assets and;
Distribution of the Liquidation Account.
The following is a flow chart that sums the Liquidation processes:
Table 3.3.1 Liquidation Process Flowchart
3.4 The Payout Process
3.4.1 Claim Processing
Before a depositor is reimbursed, they have to fill in a claim form from the Deposit Protection Corporation.
When filled in, it will provide the Corporation with the banking details of the claimant’s closed bank i.e. the
name of the closed bank, the claimant’s ID number, account number and total deposits claimed. The last
section of the form provides the payment instructions i.e. the bank account to which the money should be
transferred or the beneficiary’s phone number if they are to use mobile money transfer such as ecocash. This
information is then verified with what is in the Deposit Register to discover whether the claimant was a
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depositor at the closed institution and how much money they had within the bank. Before going for payment,
the claim is checked for duplicates whether it has been paid before or not in order to avoid a single depositor
from being paid twice. Finally, it is taken to the Accounts Department where all the transfers are done to the
beneficiaries’ banks.
3.4.2 Reimbursing depositors
Payments to depositors should be done as prompt as possible and specifically within seven working days from
the time that the depositor makes their claim. The time taken to reimburse the depositor has a strong impression
on how the public will view the organisation and have confidence in the financial sector. This principle will
be discussed in three main stages.
3.4.3 Recoveries
The last principle for in Bank Resolutions Section has to do with recovering funds from liquidation of the
insolvent bank. The previously owned assets of the closed bank are sold in order to get funds to pay back
depositors. DPC aimed at realizing the assets of the bank so as to reimburse the creditors of the bank
3.5 Curatorship and Judicial Management of Banks
DPC has a risk minimization mandate and is required, among other responsibilities, to: monitor and assess
risk of members; participate in resolution of failing or failed member institutions; and carryout special
examinations, curatorship and liquidations. DPC can be the curator or judicial management of a closed bank
or it can appoint an agent to work on its behalf.
3.6 Risk Assessment and Surveillance Section
Banking regulations and supervision is an essential aspect of modern financial systems, seeking crucially to
monitor risk-taking by banks so as to protect depositors and the economy as a whole against systemic risk and
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bank failure. The risk assessment department is involved in the monitoring of all the banks along with the
Bank supervision department of the RBZ. The Risk Assessment department works closely with the Economic
Research Section of the Corporation. The Risk assessment department is involved in the following tasks:
Monitoring Risk levels in all the contributory institutions
Determining the risk exposure of all contributory institutions according to the CAMELS ratings and
the Basel Capital Accords I-III.
Adherence to rules and regulations
Payment of premiums by contributing institutions
Determining exposure to the Deposit Insurance Fund
3.7 Industrial attachment activities
3.7.1 Student’s responsibilities in the Risk Assessment and Surveillance Section.
Report Writing
Participating in the preparation of CEO’s presentation on the topic “Good Governance in the Public
and Corporate Sector: A foundation to Zimbabwe’s Economic Revival”.
Preparing Cash Crisis Monitoring report
Preparing Monthly surveillance report
Reading Activities
Reading and discussing material on Risk Management.
Reading and discussing the CAMELS rating framework.
Discussion on the Deposit Protection Act for deep understanding.
Research on capital adequacy, loan classification, asset quality, defining examination activities, on-
site examination and off-site examination and non -performing loans (NPL).
Analysing the Bank Balance sheet structure and the income statement.
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Preparing research work from newspaper articles and books for presentations.
Reading and discussing the RBZ loan Classification System 10 tier Guideline for deep understanding
of the supervisory rating scale. It provides for five (5) categories, each denoting the performance of an
asset. The 5 categories include pass, special mention, substandard, doubtful and loss loans.
Reviewed and assisted in drafting the Returns for Micro Finance Institutions.
Filling
Assigned to file the returns received.
Other Activities
Assigned to save the DPC1 (monthly) for February 2016.
Assigned to upload monthly returns for February.
Updating the institutional profiles for banking institutions like CABS, MBCA, ECOBANK and Banc
ABC, Barclays, NMB, Standard Chartered, ZB Bank, CBZ Building Society
Receiving the DPC1 returns for the month of February at the reception and stamping them
3.8 Bank Supervision and Regulation
Regulation of banks has been defined by Llwellyn (1986) as a body of specific rules or agreed behavior either
imposed by government or other external, agency or self-imposed by explicit or implicit agreement within the
industry that limits the activities and business operations of banks. In summary it is the role of public policy
towards banks to achieve a defined objective. Bank regulation has two major components
• The rules or agreed behavior
• The monitoring and analysis to determine safety and soundness and ensure compliance in the banking sector
Supervision; on the other hand is the process of monitoring banks to ensure that they are carrying out their
activities in a safe and sound manner and accordance with law, rules and regulation Foot (2003). It is a means
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of determining the financial condition to ensure compliance with the given rule and regulation at a given time.
Bench (1993) asserts that effective supervision of banks leads to a healthy banking industry.
3.8.1 The objectives for Banking Supervision
Banks worldwide are more regulated than any other institutions because of their role of financial
intermediation. As the role of financial intermediation banks source funds from the surplus spending units at
a cost and then lend it to the deficit spending units at a price both within and outside the country. The difference
their get is the margin (Schumpeter, 1934). Banks also provide an efficient payment system in the economy.
They give a smooth and efficient system for making payment to settle both business and personal transactions,
and international financial obligation on behalf of their customers .Thus savings are stimulated for investment
in the economy by banks. The mass of the evidence is that banks in the process of intermediation contribute
significantly to real economic growth .Schumpeter (1934), banks are necessary condition for economic growth
.This proposition has been supported by several scholars including; Goldsmith (1969) and Cameron et al
(1972). Practical evidence also suggest that there is a positive correlation between real growth of output,
investment and bank assets,
3.8.2 Methods used by regulatory authorities for supervision
Supervisory authorities carry out their functions through bank examinations. Bank examination may be
defined as the examination of the books and records of a bank for the purpose of ascertaining that the affairs
of the bank are being conducted in a safe and sound manner with respect to: adequacy of capital, asset quality,
board and management, earnings, liquidity, adequacy of internal controls, adequacy of accounting system and
record keeping as well as compliance with both the individual banks’ internal policies and prudential
regulations. To accomplish the task of examining banks, bank examiners use both off-site and on-site
supervision to carry out their supervisory functions.
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3.8.3 Onsite Supervision
On-site supervision of banks entails physical presence of regulators in the financial institutions to evaluate
their internal controls, compliance with the laws and regulations governing their operations with a view to
determining their overall risk exposure. On-site supervision is carried out by the Bank Examination
Department of the regulatory bodies.
3.8.4 Off Site Supervision
The off-site supervision of banks is carried out by the regulatory authority and involves essentially the
appraisal of banks returns. Essentially, it serves as an early warning device to detect a bank’s emerging
financial problem. This is accompanied by analyzing key bank financial ratios and other financial data that
are generated from periodic bank financial reports that are submitted to the supervisor. Off-site supervision
system typically focuses on a variety of key bank financial ratios covering such areas as earnings, asset quality,
capital and reserves and liquidity.
3.9 CAMELS Rating Framework
CAMELS (Capital adequacy, Asset Quality, Management Quality, Earnings, Liquidity and Sensitivity to
Market Risk) Rating Framework is the most well-known supervisory tool. A composite rate is assigned to a
bank typically as a result of an on-site examination.
3.10 Area for Further Evaluation for the Business Operations Department
The Business operations department is the heart of the DPC, with the Resolutions section being the pay box
of the system and the Risk section lending it its explicit function of being a supervisor and regulator. There
are few areas of concern that I felt required attention by the organization:
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There is need for a total divorce of the department from the RBZ. As it stands the business operations
department is a small scale mirror of what the RBZ bank supervision and surveillance department actually
does. There is need to make amendments to both the DPC and RBZ acts allocating each their specific functions
within the financial safety net, if this is not addressed will lead to and the failure of DPC to carry out its
functions accordingly as both a risk minimizer and restorer of public confidence. There is need to create
systems for the purposes of continuity. The DPC is a fairly young organisation that is only settling into its role
as a financial safety net player as well as a regulator. There is need to standardize and come up with processes
that are not dependent on specific individuals but rather on the systems of the organisation and that will lessen
the time that different individuals will acclimatize to their various positions. For instance; query handling,
claims processing, liquidation as well as the company documents that are issued or used to both internal and
external users should all be standardised and uniform for the purposes of accountability and transparency.
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CHAPTER 4: RELEVANCE OF THEORY TO PRACTICE
At college, theory staff was learnt. It proved to be difficult to put theory into practice since theory is very
skeletal without any experience from the working environment. The student had to use that information to
tackle all the situations. The writer is pleased to say that the duties she has performed are of much significance
to her studies and the experience and the knowledge she has obtained will be of much relevance to her when
she finally gets into the industry. Quite a number of concepts that were taught in class practically applied at
work however there is a little difference depending on the organizational system. This chapter goes on to
explore if theory is agreeing or disagreeing with practice.
4.1 Theory Agree To Practice
The following concepts of theory agree to practice.
Student showed an appreciation of types of Risk Management concepts learnt theoretically in
Treasury Management and Financial Risk modules into practice during the period she was working
in the Risk Assessment and Surveillance section
The student ensures the timely processing of claims forms and foster a high customer service level
and minimize the operational risk associated with claim processing
The author showed an appreciation of CAMELS Rating Framework in the Management of
Financial Institutions. The risk assessment and surveillance section department at the corporation
helps DPC to improve effectiveness and efficiency in assessments of banks.
Student showed an appreciation of the types of deposit accounts learnt theoretically in Banking
Theory and Practice module into practice during the period she was working in the Risk
Assessment and Surveillance Section.
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Student showed an appreciation of the structure of Balance Sheet of banks concept learnt
theoretically in Banking Theory and Practice module into practice during the period she was
working in the Risk Assessment and Surveillance Section.
The author showed an appreciation of types of loan, loan classification and Non-Performing Loans
(NPL) learnt theoretically in the Management of Financial Institutions
Student showed an appreciation of the structure of Basel Committee Accords Sheet concepts learnt
theoretically in Management of Financial Institutions module into practice during the period she
was working in the Risk Assessment and Surveillance Section.
4.2 Evaluation of Industrial Attachment
Working at DPC specifically in the Business operations department in general was an experience in itself as
it exposed us to a lot of experience from these highly qualified individuals in the banking industry and hence
exposing us to a regulatory body’s perspective of the banking industry. Working at the Deposit Protection
Corporation opened my eyes to the true picture of the current Zimbabwean Economic situation. I realized,
from a regulatory body perspective that there were loopholes that could easily patched up in this current
financial problem. Working at the DPC made me realize the importance of all the financial safety net players
in Zimbabwe.
4.2.1 The working environment
As far as working conditions are concerned, the DPC is up to standard. All the necessary stationery and
resources required to work are provided for. The offices themselves are strategically positioned in the
Avenues, not far from town yet still away from the noise in the city. Work starts at 8 a.m. in the morning and
ends at 4:30 p.m. in the afternoon. There is also time for lunch between 1p.m. and 2p.m. which allows
employees to refresh. Like any other government institution, no business is conducted during the weekends
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and during public holidays. The conditions are therefore favourable to the employee and the working hours
are reasonable.
4.2.2 Mentorship
This was the guidance and assistance that the writer received from DPC management and high level personnel
in transforming the writer to become a better person professionally, academically and socially. The writer
received mentorship not only through management presentations but also through merely observing
management and seniors on how they handles their social lives, how they discharge their duties, how they
dress, how they handle difficult clients as well as how they ensure that they remain and look professional all
the time.
4.2.3 Career Development
The industrial attachment was an eye opener to the writer as it gave her the opportunity to explore different
organisations and individuals within the group with different ideologies and work processes through the
numerous work assignment the writer was involved in, this as a result puts the writer on a better position to
make an informed decision on the best possible area of specialisation to venture into after completion of the
degree programme.
4.2.4 Social and Personal Enrichment
Whilst at DPC the writer attended many functions ranging such as Banks Creditors Meetings which facilitated
and enabled the writer to develop interpersonal relationships both with workmates and clients. Since every
human being is a social animal who need a social life as well, the industrial attachment afforded the writer an
opportunity to improve on social life.
4.3 Objectives of Industrial Attachment
To acquaint students with practical knowledge
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To prepare students in advance
To expose students to what happens in the work field to help students to apply what they study into
the industry
4.4 Weaknesses of Skills Acquired
4.4.1 Communication skills and Confidence Building
Due to the fact that at college the primary channel of communication was through written communication the
writer faced problems in adjusting from this form of communication to predominantly oral communication
but with time the writer improved significantly in communication skills. The improvement in communication
skills was really invaluable to the author as this resulted in improved confidence.
4.4.2 Time Management
It was difficult for the author to meet work deadlines since there was a lot of time for training in the Bank
Resolutions Department, on the job training was used thus the author would face challenges.
4.3 THEORY DISAGREEING WITH PRACTICE
Most theory learned at school agrees to practice however a few concepts are not followed or disagree with
actual practice carried.
Deposit Insurance
Deposit Insurance concepts were not followed with theory learnt at college. (DI) is typically a new
concept not theoretically Learnt at college which needs further research
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4.4 IS THEORY UP TO DATE?
Most of the theory learnt at school is up to date despite of the few things that do no longer exist in most
organizations as per research.
Example –Banking Theory and Practice
Banks assessment and supervision were regular activities in the business operations department (risk
assessment and surveillance section) firm. Understanding balance sheets of financial institutions and types of
risks could have been a demanding activity without a sound theoretical background. Calculation of Capital
adequacy, Asset quality, Equity, Liquidity and Sensitivity to Market Risk (CAMELS) ratios required statically
support knowledge thus applying the concepts learnt from school.
Example -Ratios
All ratios learnt at school are up to date. For example taking profitability ratios used in the business operations
department specifically the risk assessment section as shown on banks liquidity ratios analyses below.
Liquidity Ratio
Liquid Assets / Total Assets = Liquid Assets as a percentage of Total Assets.
Other example includes return on capital employed, capital adequacy ratio and return on assets
Conclusion
Despite some few differences depending on the type of organization, theory is highly acceptable, up to date,
agreeing to practice and applicable.
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Chapter 5: CONCLUSIONS AND RECOMMENDATIONS
5.1 Problems encountered during the program
5.1.1 Challenges faced by the author during industrial attachment period
Delays in processing of claims. This usually happened when the signatories are not in the office or are
locked in a meeting. Delay in claim processing was also due to long process of the Mobile Money
Transfers thus resulting long lasting queries in complains from clients.
On the training was used by the supervisors thus It was also difficult to adjust to work conditions
because we did not get enough training before starting the job.
More of working than learning, the student has to create own time to learn new concepts
Adaptation of life at work from life at college was a bit difficult.
Clients
5.2 OrganizationalChallenges
The company faced a lot of problems which vary in nature. Some are economic, political, technological and
social problems. The following are some of the problems:
5.2.1 Long lasting queries
There were somehow delays in the mobile money transfer thus resulted in some clients frequently calling
asking for their funds. It takes time to confirm payment for Ecocash transaction as the processes involve
some validations. There was however some challenges with the ecocash schedules that had no names but
phone numbers. Also some clients called do not respond to phone calls thus delays payments and clearance
of old queries.
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5.2.2 Long Liquidation Process
There is a time lag between the time the bank closes and the recoveries of the assets are. Thus there is a risk
that some assets will be loosed along the way as the liquidation process is longer.
5.2.3 Manual work
There is too much paper work involved during the claim process thus there would likely to be high operational
costs as some claims would not be processed also some papers might get lost in the process.
5.2.4 Awareness and Creditors Meetings
Some clients remain misinformed on the dates to when the Creditors Meetings are done thus results in many
clients coming after meetings are done. Some clients in remote areas are not aware of DPC services.
5.2.5 Double Payments
Due to the long process of Mobile Money Transfer, excessive manual works and long claim processing period
there are risks of double payments
5.2.6 Limited Number of Branches
DPC has only one headquarters thus reduces efficiency in producing results.
5.3 Recommendations to the Organization
Having rotated in all the sections before the Business Operations Department, the student came up with
recommendations to the major gaps between theory and practices which were identified in the activities of the
various sections.
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5.3.1 Suggestion on how to reduce long lasting queries
1. I recommend DPC to notify clients after payments so as to reduce the number of telephone queries.
2. There is need to engage the Ecocash team so that they speed up payments of depositors
5.3.2 Suggestion to improve long Liquidation process and Bank Assessment
1. As a recommendation DPC should engage with the liquidator to enforce effective litigation processes
so that the process does not take long time and also that depositor receive their funds after the bank
closes.
5.3.3 Suggestion to improve Manual Work
1. Proper use of information technology to reduce paper work.
5.3.4 Suggestion to improve Awareness and Creditors Meetings
1. Deposit Protection Corporation should work hand in hand with Zimpost to distribute claim forms to
remote areas to minimize travelling expenses for its clients and this will also help clients who have
little know how of use of emails.
2. Currently Creditors Meetings of closed banks are being held in Harare and Bulawayo. Deposit
Protection Corporation should ensure that meetings are held in various cities such as Mutare,
Masvingo as other clients may not be able to attend in Harare.
3. I recommend Deposit Protection Corporation to improve its publicity campaigns because many people
are not aware of its services especially in remote areas.
5.3.5 Suggestion to improve Double Payments
1. Proper use of information technology
2. Efficient and effective checking if whether a client was once paid before.
3. Avoid use of Mobile Money Transfers to minimize chances of double payment and also unnecessary
queries.
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5.3.6 Suggestion to improve Limited Branches
1. DPC should open more branches in Zimbabwe in order to improve its efficiency in its operations.
5.4 Recommendations to Students
Good communication skills at the working environment
Consulting and discussing Business Resolution and Investigation as well as Risk and Assessment and
Surveillance Section with supervisors.
Committing a lot of time in practicing computer packages.
Devoting a lot of time in practicing the task in order to gain speed and accuracy
There is need for proper Orientation to the attachés before they start being designated with work to do,
so that they can familiarize with work environment and business environment.
5.5 General Recommendations to the Organization
The emphasis on consumer awareness comes against products of financial innovation. It was recommended
that the statute be amended to have a balanced board composition, establishing strategic alliance with the
media. Offering targeted training to financial institutions personnel and put in place measures to curb illegal
deposits using the formal banking channels. The DPC should ensure sound governance to reduce
inefficiencies. Inefficiencies arise from moral hazard and adverse selection vii problems associated with
deposit insurance, and conclusively remaining dynamic in a changing environment. As such areas of future
study include effectiveness of failure resolution processes and regulations in Zimbabwe, effectiveness of anti-
money laundering regulations in Zimbabwe, financial consumer protection laws with the advent of multi-
currency and applicability of changing the mandate from pay box (phase one) to risk minimizer (phase two).
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5.6 Recommendations to the University
The student acquired knowledge from the University as she realized the importance of covering some courses
like management of financial institutions, research project, treasury management, banking theory and practice
and corporate finance before proceeding for industrial attachment placement. These courses were critical for
the execution of industrial placement duties as they deal with substance that is vital in most business
transactions whilst on the other hand students from other institutions sometimes found it difficult to grasp
some aspects of treasury management because they had not covered them in their various universities.
However the author wishes to recommend university on few things.
The current job market has been shrinking because of economic instability in Zimbabwe which has led to the
closure of some companies and backdrop of increasing graduates entering the market. Most students struggled
to get work related learning place on time. The student thinks that it helps a lot if the industrial attachment
coordinator and other responsible staff to communicate well in advance with a lot of companies so that more
students get absorbed on time to avoid deferring the course or year.
A solid relationship should be created between University of Zimbabwe and the institution where the student
is attached so as to keep track of the students’ progress over the period
The university should consider organizing seminars on career guidance where students meet captains of
industries so as to have a better appreciation of what they are learning and this can also help the institution to
come up with a better way of structuring modules.
CONCLUSION
Deposit insurance, long a topic for narrow specialists, became a hot policy topic during the global financial
crisis. Countries that could afford to do so broadened deposit insurance coverage and enlarged their financial
safety net to restore confidence in their financial system. Only a few less fortunate countries broke their
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promises on insured deposits (as in the case of Iceland) or imposed substantial losses on uninsured depositors
(as in the case of Cyprus). While the designs of deposit insurance schemes vary considerably across countries,
the resounding commonality is that in most countries these schemes have been adopted in order to protect the
mass of small depositors and to promote financial stability by preventing bank runs. Owing to this
policymakers would be wise to re-evaluate other safety net participants in addition to deposit insurance.
However, caveats should accompany hasty deep-seated change to deposit insurance schemes solely in light of
crises. Policymakers should be reminded that these deposit insurance schemes were never designed to handle
rare “abnormal” system threatening events that have afflicted many countries as a result of the current crisis
in the world. Besides being an obvious concern for policy makers and regulators, the topic is also widely
discussed among academics: the economic literature is rich of both theoretical and empirical papers devoted
to deposit insurance, following the seminal works of Bryant (1980) and Diamond and Dybvig (1983).
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APPENDIX 1: AFRASIA BANK SECOND CREDITORS MEETING
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