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ETHICS IN BANKING 5C (CODE OF CONDUCT:- :explode: (To ensure fair and…

ETHICS IN BANKING 5C

ETHIC :checkered_flag:

 a set of principle that people use to decide what wrong or what right

It concerns with individual character and social rules that govern our character

MORAL : :<3:

It means things that are right and approved by the society

The right and wrong refers to the society that they are in.

THE PRINCIPAL OBJECTIVE OF THE CODE :!:

To promote a more transparent and fair relationship between the institutions and their customers.

To ensure that customer understanding of how their accounts operate as well as the banking offered.

Established minimum standards of good banking practice.

To maintain confidence in the security and integrity of banking and card payment system.

MORAL RESPONSIBILITY:- :warning:

1. Economic responsibility

To produce goods or services and to provide a good jobs and give a good wages to workers while earned the profit.

2. Legal responsibility

Companies act as fiduciary, managing the assets in the interest of shareholders.

3. Social responsibility

It is often expressly as the voluntary assumption of the responsibilities.

PERSONAL ATTRIBUTES REQUIRED: :red_flag:

b) Honest

To perform duties according to rules and regulation of the bank

c) Good Faith

To act in good manner acceptable to general banking practices

a) Trustworthly

Maintain secrecy regarding customers account

d) Discipline

To maintain acceptable working attitude such as punctuality

CODE OF CONDUCT:- :explode:

To ensure fair and equitable treatment to all customers

To ensure completeness and accuracy of relevant records

WHITE COLLAR CRIMES:- :black_flag:

CODE OF GOOD BANKING PRACTICE :star:

It is a code implemented on 1 July 1995 by the Association of Banks on Malaysia in order to promote good banking in Malaysia.