The causes are the uncertain attribution of powers and jurisdiction between national and regional government, poor initial cost estimation and shortcomings in reporting and continual project alterations. Regulatory defects limit recourse to project financing. The process of liberalization undertaken in years past must not halt or retreat.
Notwithstanding the above developments, the financial sector still continues to face new challenges in their operations including globalization, relatively high interest rates, frauds and forgeries and lately the  BIS Review 66/2006  1  energy crisis. With respect to globalization, this has resulted into a fast pace of technological advancements in products and systems deployed in the global markets.