FACTORS THAT HAVE CONTRIBUTED TO THE SMOOTH FUNCTIONING OF THE FINANCIAL SYSTEMS

Abstract

Literature in banking and finance emphasizes that the purpose of the financial System is to ensure that the funds flow from those with excess finding to those who value finding the highest. Therefore this article focuses on factors that have contributed to the smooth functioning of the financial systems to ensure that funds are channeled effectively. The focus is on financial systems in general although emphasis is on the financial systems in the sub region.

The details in this article is entirely collected through secondary research, specifically from scholarly articles in banking and finance, various text books in banking and finance and journals from professional bodies such as the Zambia Institute of banking and financial services, , the Zambia Institute of Chartered Accountants and the Certified Public Accountant (CPA).