CIB CEO to financial sector: Ensure ethical standards to maintain integrity
According to the CEO of CIB Ghana, the lack of ethical standards in the financial sector has had far-reaching consequences
The CEO of Chartered Institute of Bankers Robert Dzato says it is important to embed ethical standards and professionalism in the financial sector.
Speaking at the 2024 Money Summit Tuesday (23 April) on the theme ‘Accelerating Savings and Investment Climate for Sustainable Economic Growth: Ethical Standards and Professionalism are Key’, he highlighted that the lack of ethical standards in the financial sector has had far-reaching consequences.
Dzato said, “Ethical standards are essential in maintaining the integrity and credibility of the financial sector.”
He added, “Ethics is about doing the right thing even when no one is watching. It is about fairness, it is about justice. More professionalism and ethical conduct is needed in the financial services sector. And ethical behavior is paramount.
The Money Summit platform addressed the critical issues hindering Ghana’s savings and investment culture. By fostering open discussions, promoting ethical practices and embracing the opportunities of digital finance, to collectively build a more robust financial future.
Dzato explained that the financial sector plays a crucial role in the development of a nation.
“We play a catalyst role in development and transformation and people save and make investment for a purpose hence we need to earn their trust.
Also on his part, Akwasi Adu-Boahene, the executive director of Fidelity Securities acknowledged the anxiety stemming from recent policies but emphasised that ethical conduct is paramount in restoring investor confidence.
“There is a lot of anxiety and uncertainty in the minds of investors,” he stated, whilst calling for a cultural shift within the financial sector.
“Ethics are very important,” he stressed, emphasising that it goes beyond simply following regulations. He added that it requires “due care and prudent judgment” when handling client funds.
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