Ethics in Banking: Best Practices

Banking: a strong ethical and prosperous business (by Karina Robinson published on the International Herald Tribune)

In general, we believe that the banking industry can not separate internal actions such as rules of employees dealing with customers from external activities such as encouraging local communities.

Social responsibility behavior inside and outside the bank has also turned into a good business. For example, the so-called Ethics Fund tends to purchase shares of financial institutions, and the reputation of these financial institutions does not divert the core business of the banking industry.

As the governance problem shook the Citigroup, all major international banks have ethical guidelines, many of which are more stringent.

However, the British-based Standard Chartered Bank is at the forefront of the industry incorporating ethics, corporate governance, community relations and diversity into its business.

We can not think about industry ethics more important than the banking industry. This is because financial institutions are an important part of the global economic infrastructure and their reliability has serious implications for countless individuals and institutions. . In addition, banks (such as charities) depend almost entirely on trust to maintain business. For banks who say they can not be trusted, they will soon run out of customers. Of course, unlike charity, our trust in banks is partially maintained by a very important regulatory system.

The essence of management and ethics in this paper is to analyze the unethical behavior of the banking industry with the aim of evaluating the level of honesty of the banking business and its impact on the ethical climate of the bank. Some bank employees interviewed, but the general conclusions revealed from all interviews show that there are various problems that need to be evaluated. Most importantly, the banking industry should comply with the principles of sincerity, neutrality, reliability, transparency, social obligation, and finally comply with the management of money laundering. But the way this compliance is achieved poses serious concern as to whether it really truly demonstrates the expected goal.

Ethics plays an important role in our society today, as ethics plays a final role in society, not because of the direct emotions experienced by individuals after experiencing moral practices . In addition, the banking industry plays an important role in ensuring that business practices and advances in technology are consistently prosperous. Therefore, companies derive business standards from the banking industry. Therefore, the unethical behavior banks produce means to model negative roles. Without a bank, you can not operate a stable business. In return, these banks will receive important information on the operation of related business. Therefore, the information received should be kept safe and disclosed to the government only when it is necessary to investigate the business practices the government considers necessary.