Table of Contents Introduction 3 Ideals 4 The Reality 6 The Grey Area 8 BUSINESS ETHICS IN BANKING SECTOR Pompi Boro_Sec F_0427/54 Introduction I cannot think of any industry where ethics would be as important as in banking. Partly because financial institutions are such a crucial part of the world economy, and their trustworthiness is bound to have serious implications for countless individuals and institutions. Furthermore, the banks depend entirely on trust to sustain their business. A
reporting is notably an important concept for achieving effective functioning of corporate governance systems in banking industry. It is evident that financial accounting reports are produced in banking industry to indicate the true and fair state of affair of banking companies’ entities (Arnold, 2009). The financial accounting reports are essential since it helps stakeholders and other banking industry users to make informed decisions (Schipper, 2003).The current accounting practices allow a certain
on the economic side of the world, such as trade, foreign direct investment and international capital flows. Globalization has a great worldwide effect on the banking industry in any country. Whereby, the economic effect of globalization on the Banking Industry may be positive and negative as well. A political factor plays an important role in any business. There are some factors that the political include: tax policies, stability of government, entry mode regulations,
attempt to control the way you understand the world? Paulo Freire, author of “The ‘Banking’ Concept of Education”, declares that “Narration (with the teacher as the narrator) leads the students to memorize mechanically the narrated content. Worse yet, it turns them into ‘containers,’ into ‘receptacles’ to be ‘filled’ by the teacher” (216). Freire’s statement implies that teaching utilizing the banking concept shifts the role of students as learners to robots who receive data and execute orders given by
The Micro Small and Medium Enterprise have a very important role in the economic and social development of any country. This sector plays a significant role in the growth of the economy with their operational, proficient, flexible and inventive entrepreneurial spirit. The MSME sector makes a significant contribution to the country’s manufacturing output, service and exports and they are accredited with creating the maximum employment growth as well as accounting for major share of industrial production
of money to the borrowers. The whole of the economy and financial transactions are carried out through banking institutions these days. Banking system in Pakistan is one of the sectors which have developed a lot in the past few years. Pakistan today has a very good banking network in all over the Pakistan comprising of a State Bank, which is a federal entity and has a central role in the banking sector of Pakistan. State bank has a very wide range of various private and national commercial and other
INTRODUCTION Interest-free banking since its start has been one of the most controversial institutions and it operates in most countries in the Middle East like Bahrain, Kuwait and in many countries in Asia and Europe. Pakistan, Iran and Sudan have ?Islamized? their whole banking system while others like Bahrain, Turkey, Malaysia and Jordan have adopted a heterogeneous banking system in which one or more Interest-free banks compete with Western commercial banks. Interest-free banking is so far the fastest-growing
“A Study on Banking Sector Reforms in India Opportunity and Challenges) ” Abstract: The economic reforms lead by the Government of India about 2 decades before have changed the landscape of various sectors of the Indian economy. The Indian banking sector is no special case. This sector is going through major changes as a outcome of economic growth. The role of banking industry is very vital as one of the leading and mostly essential service sector. India is the biggest economy in the world
and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India's banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached
nature. Services include activities like retail shops, banking, hospitality, real estate, education, health, social work, etc. The service sector is a very crucial part of the economy. Service sector in India has grown up by 55% in India’s GDP 2006-2007. Service Sector business’s is now increasingly focuses on so called “knowledge economy”. They need to keep ahead of other businesses by understanding what are