The Financial And Banking System Of The Standard Chartered Bank Iranian Transaction Scandal
1466 Words6 Pages
The Financial and Banking System of:
Standard Chartered Bank Iranian Transaction Scandal
In Partial Fulfillment of the
Marcos A. Kerbel
Participating Adjunct Professor
Department of Finance & Real Estate
Florida International University
• What are ethics and their importance in global banking and business today?
In a word conquer by globalization; an individual uses ethics to manage the most important tasks and activities a company follows. Ethics are known for its principles and values that an individual uses to govern the decision of a business…show more content… http://smallbusiness.chron.com/importance-ethics-organizations-20925.html
The lost of confidence by investors have caused the regulatory repercussion in the global markets. The best way to evade future crises and build business is not about implementing regulation to avoid fraud, but to use smarter ethics as well in order to maximize the company’s integrity. However, ethical behavior must not be confused with following the law or achieve what communities suppose is acceptable or satisfactory.
Social norms and laws could ride contrary to what is ethical, for instance lets think about apartheid and slavery. Ethics need to stand above and not manipulated by an individual, who might conduce these ethics into a negative side, that can lead to induce people to accept what is wrong just because the law says that.
Why are ethics important in global banking? Ethics are vital to maintain a level of trust between the organization and their clients, to support the required independence and providing suitable investment advice. These decisions result in the physical transfer of financial assets, funds that can be withdrawal from BRIC equity markets and reinvested in London property or commodities, in some types of cases. Banking in general has a prolonged history of a successful regulation disturbed by monopolization periods such as, Babylon’s temples in 2000 BC, Augustus QV in