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Ethics and Banking
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In this paper, the authors summarize the economic trends that observe a moral conscience in humans and analyze if this moral conscience can have a translation in the financial sector, and can ethical banks and investment funds survive in the competitive financial sector? Can moral conscience be incorporated into financial business?Abstract:
Usually moral conscience has been forgotten after the individualist and utilitarian analysis. However, many people guide their behavior by a value system that is sensitive to social problems, such as equilibrium with nature, respect of human rights, and the equality of opportunities. People have the power to change the society: As consumers and as savers. As savers, people have the opportunity to choose, in financial markets, between institutions and products. In this paper, we will summarize the economic trends that observe a moral conscience in humans. Then, we will analyze if this moral conscience can have a translation in the financial sector. Can ethical banks and investment funds survive in the competitive financial sector? Can moral conscience be incorporated into financial business?read more
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Exploring the ethical aspects of Islamic banking
Abstract: Purpose – The purpose of this paper is to look into the ethical practices of a profit-driven financial institution that is currently adopting Islamic banking and whether it can actually be ethical from an Islamic perspective The recent decade has seen an upsurge of the increasingly integration of ethical management into operational strategies by businesses across the globe Like any other religion, Islam wants its followers to be truthful and honest and to be compliant with its teachings and especially in a business transaction This research paper explores the ethical factors of Islamic banking and how it is perceived by its stakeholders Design/methodology/approach – Due to the exploratory nature of the research and the fact that it involves in-depth theoretical analysis, a qualitative research method was adopted to explore the details of ethics in Islamic banking sector The aim of this research was to explore the ethical options of an Islamic bank This was done by carrying out in-depth interviews wi
Journal ArticleDOI
Can Corporate Social Responsibility Help Us Understand the Credit Crisis
TL;DR: In this article, the authors seek to shed light on the crisis's ethical content and show how the generalized practice of corporate social responsibility within financial institutions could have helped reduce the magnitude of the crisis, perhaps not systemically but definitely in some of the organizations that have been most affected by the crisis.
Journal ArticleDOI
Analyzing the dynamics behind ethical banking practices using fuzzy cognitive mapping
TL;DR: This paper proposes the use of fuzzy cognitive maps (FCMs) to analyze the dynamics behind ethical banking practices and develops a well-informed process-oriented framework that sheds light on the manner in which ethical practices interrelate with each other.
Journal ArticleDOI
Relationship between ethical and islamic banking systems and its business management implications
TL;DR: In this article, an analysis has shown that the practices of Islamic banking system fit into ethical banking framework to a greater extent, and that Islamic banking forms part of the broad ethical banking brand, and thus its rapid growth at the time when the ethical banking movement gathers new momentum could not be a matter of sheer coincidence.
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Sustainable profitability of ethical and conventional banking
TL;DR: In recent years, social movements have echoed calls for greater social and environmental responsibility as discussed by the authors. But consumers have lost confidence in banks and distrust in banks' commitment to environmental and social responsibility.
References
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The Silent Revolution in Europe: Intergenerational Change in Post-Industrial Societies
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Posted Content
Emotions and Economic Theory
TL;DR: The authors discusses three aspects of the relation between emotion and choice: given that emotions may be intrinsically valuable or instrumentally useful, can one choose to have them? (2) Can emotions supplement rationality in cases where it yields indeterminate prescriptions for choice? (3) When an emotion and self-interest suggest different courses of action, how do they interact to produce a final decision?
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Globalization and Postmodern Values
TL;DR: This paper found no direct correlation between financial prowess and emotional well-being, while the modern world prioritized economic-led growth, the postmodern society will place more value on environmental protection and cultural identity.