QUICK LINKS

The Monitoring and Evaluation (M & E) department within FINSAC is responsible for assessing the performance, including regulatory and statutory compliance, of all FINSAC intervened entities. The department also ensures that intervened institutions fulfill their obligations under FINSAC’s rehabilitation agreements.

It comprises a team of qualified auditors, financial analysts and accountants, who work in partnership with the Banking and Insurance Intervention and Rehabilitation teams. Some of the many functions performed by the department’s specialists include:

• Benchmarking of institutions to international standards
• Analysis of non-performing loans
• Supervision and liquidation of failed institutions. 

It also pro-actively reviews FINSAC intervened entities to determine whether there exist: 

• Mechanisms that will facilitate efficient and proper corporate management
• Mechanisms that will facilitate monitoring of operating performance and compliance
• Appreciation and understanding of sound risk management and how to achieve it
• Good corporate governance and satisfactory shareholder oversight.

The department is additionally responsible for the internal audit and compliance of FINSAC itself. During fiscal 1999/2000 audit of the asset divestment process, is expected to become a major M & E department responsibility.