The Financial Sector Adjustment Company Ltd. (FINSAC/FIS)

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    FINSAC Limited was incorporated with a specific mandate from Government:  To resolve the problems of solvency and liquidity being experienced by the financial sector.
    In pursuance of this mandate, FINSAC developed eight broad objectives to guide its activities. These objectives are as follows:
    • to protect the investments of policyholders, depositors and pensioners;
    • to restore liquidity and solvency to distressed institutions (in pursuit of the first objective);
    • to strengthen the financial management capability of intervened institutions;
    • to improve the efficiency of the sector in mobilizing and allocating financial resources;
    • to create an attractive environment for investors to recapitalise financial institutions;
    • to minimize moral hazard and promote prudent behaviour;
    • to promote strong corporate governance, managerial accountability and shareholder oversight;
    • to strengthen the sector through the establishment of appropriate institutional frameworks and regulatory structures.
    In pursuit of these objectives, FINSAC was established with the following Terms of Reference, Financing and Exit Strategy