Banks must maintain ethical standards

Five days from today, banks in the country will converge on the La Trade Fair ground in Accra for the 12th Ghana Banking Awards which is on the theme "Promoting Ethics, Integrity and Compliance in the Financial Services Industry”.

The theme is most appropriate  because it places a responsibility on commercial banks to  demonstrate honesty,  transparency and fairness in all their activities. This is to avoid  the negativities that have affected the image of some banks in some parts of the world.

Prior to the awards, the Chief Host of the Ghana Banking Awards and Chairman of the Ghana Banking Awards Planning Committee, Mr Willing Vanderpuje, has called on banks in the country to strictly comply with ethics of the industry in order to uphold their integrity while protecting the investments of their shareholders and customers.

His call was based on the events of the past few years, notably the hefty fines imposed on some global banks and rogue dealings among many other things which impacted negatively on the integrity of banks in the developed world.

The GRAPHIC BUSINESS  associates with the theme of the event and the call made by the Chief Host of the awards on the banks to uphold high ethical standards at all times.

The paper believes that much as the slippages in other countries which caused the image and brand of some banks did not occured in Ghana, there is the need of players in the industry and the central bank at large to ensure that adherence to strict compliance and ethics are not compromised at any time.

This is necessary because Ghana cannot afford to pay the price for such reckless acts which nearly sent many banks on their knees.

The GRAPHIC BUSINESS uses this opportunity to congratulate the organisers of the awards and the potential award winners on their sterling performance and contributions towards the growth of the economy.

The paper believes that for the banking industry to grow there must be a healthy competition among the players in the industry.

It is against this background that the paper will like to entreat the banks to do all they could to ensure that the Ghana Banking Awards remains the key barometer to assess the banks in the country.

GRAPHIC BUSINESS further urges the banks to value these indigenous awards than those that are awarded externally.

We wish the banks and the organisers well and hope that the event has come to stay. GB

Graphic Business