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Ethics, Business Ethics and Banking
What is the definition of ethics in the context of banking?
Ethics refers to a set of moral principles and values that govern the behaviour of individuals and institutions, guiding them to distinguish right from wrong and act with integrity, fairness, and responsibility.
What is the primary purpose of a code of ethics in a banking organization?
To guide employee behavior and uphold institutional integrity
How does business ethics differ from general ethics?
Business ethics applies ethical principles specifically to commercial activities, addressing issues such as fair dealing, transparency, stakeholder interests, and corporate governance within an organisational context.
What does the term 'moral hazard' mean in the context of banking?
Risk that insured parties take excessive risks due to protection
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