Financial Management and Staff Performance of Amal-Bank in Mogadishu-Somalia

ABSTRACT The study was set out to establish the extent to which financial management affect staff performance of Amal-Bank in Mogadishu-Somalia; especially the study intended to establish the (i) profile of the respondents, (ii) effectiveness of financial management towards the success of Amal Bank, (iii) level of staff performance, (iv) To determine if there is a significance relationship between financial management and staff performance of Amal Bank in Mogadishu-Somalia. The study used a survey design; specially descriptive correlation and descriptive comparative; data were collected from 100 respondent using self administered questionnaires as the key data collection instruments. Data were analyzed using frequency counts and summary statistics, and Pearson Linear Correlation and Regression Analysis. The study findings revealed that there was a high level of which financial management, there was also high level of staff performance, the level of financial management and staff performance significantly differed among Amal-banks in Mogadishu city and that financial managemenL of Amal-banks in Mogadishu city is significantly correlated with staff performance. From the above findings appropriate conclusions and recommendations including tho~ for further research were made. Recommendations from the study were (i) Financial management was a significant predictor of staff performance of profitability, flow of procedures, responsibility, and accountability, (ii)To improve on performance of the bank, there is need for to use Electronic Data Processing in financial process. Amal Bank should eliminate the manual procedures and (iU) Financial management training was a significant predictor of Amal Bank performance indicators of gaining skills, knowledge, doing effective budgetary and preparing sound financial statements.