An evaluation of the adequacy of compliance with the basel committee on banking supervision's high level principles for business continuity in the implementation of business continuity modes in the Zimbabwe banking sector
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The research investigated the extent of compliance with the Basel Committee on Banking Supervision’s Seven High Level Principles for Business Continuity in the implementation of the Business Continuity Management models in the Zimbabwe Banking industry. The research document is structured as follows:- Chapter 1 covers the introduction, background and justification to carry out the study; Chapter 2 dwells on literature review on the subject matter of business continuity as it relates to business operations with a particular focus on the banking business. The literature review takes a chronological perspective in order to bring out a clear understanding and appreciation of the evolution of business continuity management as a stand-alone discipline; Chapter 3 covers the Qualitative Research Methodology used to carry out the research and justification thereof; Chapter 4 dwells on the data driven inductive thematic analysis approach employed to analyse data obtained through both primary and secondary sources, and, Chapter 5 closes the research with discussions, conclusion and recommendations for areas requiring further research. The results of the study reflect lack of uniformity in the implementation of BCM models in compliance with the BCBS’ Seven High Level Principles for Business Continuity across the Zimbabwean Banking spectrum, emanating from factors such as bank size, age, indigenous or foreign owned and lack of clear guidance from the regulator. On the basis of these findings, recommendations were proffered on what has to be done in order to implement BCM models in the Zimbabwe banking sector that are in compliance with the BCBS’ Seven High Level Principles for Business Continuity and in tandem with international best practice. Recommendations were also made on areas requiring further research in the broader financial sector in order to bring out a holistic picture about the state of BCM in financial services industry.