Code Of Ethics In The National Bank Of Dominica Ltd

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Described by Sullivan, S (n.d.), code of ethics “generally refers to a set of behavioral rules employees should follow to ensure the company’s values are reflected in all the business dealings.” Bearing this in mind, the National Bank of Dominica (NBD) Ltd is guided by a “code of conduct policy” which contains details on the general standards of ethics, conduct and behavior that staff must comply with and maintain as part of their employment condition or appointment. This guideline applies to all employees or staff across all levels. The bank’s code of ethics promotes honesty, integrity and ethical conduct, compliance with regulators/ government rules and regulations and required disclosure.

The code of ethics proactively promoted ethical …show more content…

Hence, the code of ethics encourages the reporting of any accidents and risks on the bank’s premises, a safe and tidy work area, the avoidance of violence and the compliance with the bank’s health safety requirements and emergency preparedness. (National Bank of Dominica Ltd, 2012: Code of Conduct)‎

NBD’s employees are required to adhere to the code of conduct/ethics at all times. Hence, improper conduct may lead to disciplinary action as it relates to the code of conduct. An employee convicted of improper conduct, criminal activities, impropriety, oppressive, deceitful conduct, whether lawful or unlawful, violence and dishonesty that in NBD’s sole opinion adversely affect the reputation and corporate image of NBD will lose confidence in the employee. (National Bank of Dominica Ltd, 2012: Code of Conduct)‎

(b) Explain how the corporate governance in your company supports the ethical management of the …show more content…

Ethics is a discipline in dealing with staff, customers, partners, supplier and other parties as it relates to the bank’s moral duties and obligations. Hence, the bank’s corporate governance encourages the ethical standards which are vital for its long term survival. The NBD has implemented a comprehensive corporate governance framework which is supported by legal and regulatory regime, risk based supervision, detailed responsibilities and/ or roles of the board and management and ethical policies that encourages the code of ethics. An important attribute of corporate governance that improves the standing of the bank is the adoptions of ethical standards in dealing with the fight against corruption and related offenses. As such, the NBD has executed “Whistle blowing.” This is an established policy, encouraged by the board, which is focused on the “conditions and procedures for investigations of allegations of corruption, fraud and misconduct/ inappropriate behavior.” (National Bank of Dominica Ltd 2012) The policy’s main aims are

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