Subscribe to Fiji Sale - Lists Properties on Mortgagee Sale in Fiji
Powered by groups.yahoo.com

This blog is brought to you by Gilbert & Samuels Company Limited, a financial advisory services and consulting company based in Suva, Fiji.
To contact the authors of this blog, please call telephones (679) 3342719, (679) 3544897 or e-mail info@gilbert.com.fj.


Thursday, March 27, 2008

Colonial Fire and Importance of Contingency Plans

There was a fire at Colonial Fiji's IT and backoffice sections early Tuesday morning, 25 February 2008. Customers have said that the bank's ATMs were not working when they tried to make withdrawals.

Colonial had said that the Group had moved all staff to other locations and was working on assessing the damages caused.

Fires and other catastrophes emphasise the need for businesses to have Contingency Plans in place and if they are in place, to ensure that those plans work in the event of a real contingency.

Regulators will need to ensure that financial institutions have Contingency Plans in place.

It was fortunate that the fire was only confined to one part of a financial institution. Imagine the consequences to the financial sector if the fire had covered the entire central business district where most of our banks operate from?

I had mentioned in my earlier post that our business was working on a Contingency Planning Model which is to be used to develop Contingency and Business Continuity/Resumption Plans for clients. If you are interested, pls send an e-mail to investinfiji@gilbert.com.fj or info@gilbert.com.fj.

Labels: ,

1 Comments:

At 7:41 AM, Blogger moneythoughts said...

Hi Gilbert,

I was just checking out people interested in investing and came across your blog.

I have spent over 35 years working with investment securities and portfolio management.

I write and paint. Take a look at my blog, I think you will find it of interest.

Fred

 

Post a Comment

<< Home