“We have to ensure we improve our professional conduct and standard of ethics. We have to be transparent, accountable and professional.”
Be transparent, accountable and professional, urges Munir
TAN SRI MOHD MUNIR ABDUL MAJID, Financial Services Professional Board chairman
FINANCIAL industry players must raise their ethical standards, in line with government efforts to improve transparency and accountability, said Financial Services Professional Board (FSPB) chairman Tan Sri Mohd Munir Abdul Majid.
He said although many were encouraged by the new government’s efforts, industry players must do their part to ensure a holistic reform.
“We have to ensure we improve our professional conduct and standard of ethics. We have to be transparent, accountable and professional,” he said at the launch of the FSPB Professional Code for the financial services industry, here, yesterday.
Also present was Bank Negara Malaysia deputy governor Jessica Chew.
Earlier in his speech, Munir said keeping to the highest standard of ethics and integrity was an inextricable part of professionalism.
“The violation of trust and ethical standards... has many a time been at the heart of the loss of public confidence in the industry and the loss of public and shareholder funds.”
Munir said the Professional Code would help instil standards of conduct, enhance confidence and promote sustainability across the sector by promoting a culture of professionalism.
He said the code provided 10 fundamental standards of professional conduct expected of organisations or individuals in the financial services industry, such as banking, insurance, the capital market and Islamic finance.
“The FSPB Professional Code provides the full suite of capabilities, standards and responsibilities that must be fulfilled in the financial services industry,” he said, adding that the adoption and implementation of the code was not compulsory.