Bankers told to uphold integrity, have zero tolerance for corruption
KUCHING: As guardians of public trust, bankers are reminded recently to uphold integrity and have zero tolerance for corruption.
Asian Institute of Chartered Bankers (AICB) chairman Tan Sri Azman Hashim said this in his opening address at the second Chartered Banker Conferment and 21st Graduation Ceremony held over the weekend.
Directly addressing over 1,600 graduates, Azman emphasised that bankers must have zero tolerance for corruption, as the profession demands the highest levels of integrity and upholding of public trust.
“May I remind you today, that the very heart of banking is still trust. We are in the business where people put their money in banks because they trust us, hence our responsibility to protect the integrity and stability of the banking system, which underpins public trust and confidence in the financial industry,” he said.
In his special address, guest of honour Bank Negara Malaysia Governor, Tan Sri Muhammad Ibrahim added that as “guardians of public trust”, bankers must protect the system against any threats, including protecting against abuse, misconduct and exploitation.
“No banker should tolerate misselling of products to customers which are not suited to their needs. No banker should tolerate charging excessive and hidden fees to unsuspecting customers and use these fees to excessively enrich themselves.
“No banker should tolerate unethical and illegal behaviour of a fellow colleague. No banker should tolerate any wrong doing or misconduct. The currency of bankers is not money but trust. Loss of trust is calamitous for the profession.”
Governor Muhammad said AICB, the professional body for banking, played a crucial role in Malaysia in upholding the values of honesty and integrity and ensuring professionalism, trust and confidence through its Chartered Banker accreditation.
“The syl l abus for this qualification places importance on ethics and professional standards.The requirement for fresh graduates to undergo an induction course on ethics is also a good starting point.
“There are other initiatives in store, we will step up efforts to ensure that the roles, responsibilities and accountabilities of leaders of financial institutions are clear and transparent. To this end, consultations with the industry will be conducted this year on proposals to sharpen accountability of individuals holding senior roles.”
Muhammad Ibrahim added that effective July 1, 2018, it will be a requirement for financial institutions to screen all new hires for their employment history and criminal records.