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Why ethics is important in banking
Improve ethics in finance
Improve ethics in finance
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“We are here in this country to bring peace and harmony through financial stability of people across Pakistan. We are here to promote individual and corporate growth nationwide and we are best at it and yes, we can…..”
Khan Banking Corporation
“Your financial partner”
Khan Banking Corporation Ltd. is such a bank which I feel proud to work for. People keep on dreaming their whole life to be part of such a glorious and significant company that makes you the top priority. Yes we are the Pioneers of Banking. We are “Your Financial Partners”.
We Are Demonstrating
Khan Banking Corporation is the bank which is striving for excellence nationwide and also managed to make a deep place in the hearts of the people of Pakistan with their excellent and unique services of banking and finance nationwide.
We are proud to announce of becoming one of the most acceptable and appreciated bank not only in Pakistan but throughout the globe. We are here to provide the best we can for our honorable and precious customers nationwide. They are our top priority and the only asset.
An Annual Re-Assurance
This code of conduct is not just merely a piece of paper but it is our way of living, contributing, dealing and servicing the people of company and people of Pakistan. And we make sure and expect our beloved and respectable employees to follow these codes of conduct to serve the people of Pakistan at its best.
Conducting our business with the highest standards of ethics and integrity is essential to living up to the ethical banking promise of our company. By doing things the right way, we can support our customers and clients while holding true to the values we believe in.
Asad Ahmad Khan
C.E.O Khan Banking Corporation (KBC)
Purp...
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...Rendering of Services
Implementation and following of policy document
Ensuring implementation of policies
No hidden aspects of policy of advancement of short and long term ‘Loan Financing’.
Easily understandable policies.
Clear Whistle blowing criteria (whom to report and confidentiality that is HR department)
Legal action and compliance against corporate crimes (C.E.O Decision would be ultimate)
Last but not the Least:
Integrity, honesty, care, morality, loyalty, cooperation ,teamwork are the much needed essentials which will guide your positive actions and behavior towards the company. High aims are guided by high levels of morality and ethics. So do the right thing to make things right for yourself and your company. Make your company proud of you because these things when put together make ‘Royalty’. May all the odds will be in your favor.
The banking industry is under pressure in today’s business climate. Banks have been through big changes. There is opportunity, but there is also increasing competition. To be the preferred bank means changing “good enough” into a unique value proposition. And that means changing the way people have always done things, change on this level requires cutting edge technology. Change cannot be achieved with a simple directive or surface adjustment especially within the banking industry. It requires an innovative rethink of the entire system, in a strong partnership between bank leaders and their change agents. New systems and policies must support the strategy to be successful. The real test of a good strategy implementation plan is whether the people understand the strategy, are motivated and enabled to implement it, and actually start achieving its goals.
The importance of having a code of ethics is to define acceptable behaviors and promote higher standards of practice within a company. The code should provide a benchmark for...
Canadian Imperial Bank of Commerce, also known as CIBC, is Canada’s fifth largest bank. Established in 1961, the bank that we know today was formed through the merging of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, these two banks were the largest banks in Canada. CIBC’s head office is located at 199 Bay Street, Toronto, Ontario. This international company operates in Canada, Europe, the United States and the Asia Pacific region. CIBC`s vision is To be the leader in client relationships. They value Trust, Teamwork and Accountability. Their corporate objectives include building on their financial strength, unlocking value for reinvestment and to culture focus on client relationships. CIBC currently
From big financial and ethical scandals like Enron to WorldCom, Wells Fargo may be the next big financial and ethical scandal. Wells Fargo used to be one of the leading banks and credit lending companies in America. Now, they’re on a slippery slope downhill to one of the worst—and most unethical—banking and credit lending companies in America, maybe even in the world. Wells Fargo has been in an ethical uproar, has questionable ethical values, and questionable principles and practices in culture due to their downhill ethical standards. The company also may have been influenced by bad stakeholder judgment, and are now struggling to maintain the company’s culture. To give a description of business ethics as described by John Fraedrich, “business
This concern of integrity and organizations like Wells Fargo to do what is right stems from our personal ethical framework. We all have one which helps us decide what is right and what is wrong. It is this decision that is a concern for organizations that must be managed on a day to day basis. Company’s such as Wells Fargo are so big that bad ethical behavior may be overlooked and not dealt with until the damage has already been done. Other organizations need to learn from Wells Fargo and start addressing their own organization ethical framework. This would include the organizational culture, business strategies, employee ethics concerns and the overall ethics and decision-making
The first value, integrity, refers to a strong commitment to ethics, having respect for diversity, and speaking positively of coworkers even when they are not around. Accountability puts an end to people diverting blame. If people are accountable for their actions, results become the primary focus. Passion is one of the values, and is practiced by employees having pride in their brand, as well as a passion to continually improve and innovate. Humility is a very important value in that it stresses the importance of admitting to mistakes, realizing that there is constant room for learning, and being willing to be taught....
Nowadays, the technology are increases rapidly. The RBS also improving in their bank technology. As example. RBS created a website. This website may control the relationship between the bank and their customers. To make their relationship a good, the website will produce a forum or site to easy the customer to give their opinion, suggestion or to tell their problem that they having when using RBS bank account. As an international bank, it need to improve their products and services or technology in getting the customer stratifications. It also need to make customer trust to using RBS.
Ethical behaviour is what all career people should aim to have. Not just the ethical attribute but exceptional behaviour with this regard.this is because in order to build a career, one must be governed by the rules of ethics to safeguard oneself and others. Ethics are essential in the workplace because a tough ethical code provides a non-threatening environment with high employee morale. The corporate social responsibility is important to everyone,therefore it should not be neglected by the employees and the organization. Ethics purely center on personal conduct. It involves personal choices that can make or break a person in the workplace or business. The major importance of having good conduct is to maintain a high level of respect not just for people but for the proffession. Most people who begin their working career have aspirations of excelling at their jobs and reaching the pinnacle of their profession while maintaining a sense of values; however employees often become blind with ambition and put aside their sense of ethics in order to obtain financial security and recognition for their efforts. There are many things that one can gain from having good behavioural ethics in the workplace. It will develop a discipline which will propel the work practices to a higher level and will help set a high standard. It will promote teamwork among the workersand will also buil...
Central Bank of Oman defines bank as “A bank is an institution which deals in debts of his own
...ctices. Thus, in order to counter this challenges, better awareness should be create among the customers that Islamic banking is not only valid to Muslims only. It can be widely use by other religion.
In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.
World Bank Group - the group that consists of five organizations created in different times and functionally united,organizationally and geographically, the purpose of which is providing financial and technical assistance to developing countries.
Commitment, teamwork, integrity, and your behavior are certainly very important factors in workplace ethics; however, they are not the only things that make it up. There are many principles that you should show when in a work environment, but I believe that I have covered many of the most important ones. Just remember that you need to show a good behavior, be committed to your job and your employer, work well with others, and always be honest and morally sound. If you stand by these principles you will surely show good workplace ethics, and will be liked by those around
This paradigm shift in banking operations is well-known as modern banking. For the past two decades, the banking sector has chosen a new service channel based on the progress of information technology-electronic devices to respond to the changes in customer preferences and needs, increasing competition from non-banks, changes in demographic and social trends, and government deregulations of the financial service sector (Byers and Lederer, 2001). This new way of performing banking activities is called modern
The increasingly change in worldwide intensity in business conducts has improved the volume of bank in the world. It has produced additional banking knowledge and also improved customer demand of services given by banks like online support etc. (Balachandher, 2001).