Essays on Banking as an Ethical Dilemma Coursework

Download full paperFile format: .doc, available for editing

The paper "Banking as an Ethical Dilemma" is a great example of finance and accounting coursework.   Banks in the modern world performs a variety of role which helps to ensure that the financial system of an economy is sound. Banks perform multifarious roles like acting as an intermediary between the supplier of funds and people demanding funds. They help to bridge the gap that exists and looks towards ensuring that money laundering doesn’ t take place. The role played and displayed by banks makes them very responsible and they need to be ethical while pursuing different objectives. Banks need to be ethical by ensuring “ integrity, reliability, transparency, social responsibility and money laundering” (Dogarawa, 2006) in the economy so that the major function of an economy passes without any hurdles.

This will ensure that a spirit of harmony and believe is developed which will help the customers to ensure that their funds are safe and will help the economic system to develop and face the challenges ahead. It has been identified that the Nigerian banking system has some unethical behaviour which varies from one bank to another thereby creating a dilemma for the banking institutions to determine the correct path (Dogarawa, 2006).

This makes it important that the different stakeholders like the authorities, stakeholders, management and government take concrete steps to ensure that the banks are ethical in their dealing. Any mistrust on their part will result in the customers losing faith from the banking institutions thereby leading to widespread chaos and failure of the banking system. Different culture creates different ethical dilemmas for the banking industry. This brings a change in human pattern. It makes them do different things.

Culture gets ingrained by the group he has. “ People belong to different caste, country, creed, colour, and region which affect the manner in which they carry out their duties” . (Innah, 2009) This brings a change in the pattern of working as different countries believe different things to be right. This creates ethical dilemmas for the banking industry as to understand the different factors which can be used in culture might be unethical in another culture. Research shows that people from different countries have different culture as a result of which their pattern of influencing other is also different thereby suggesting that culture brings about a change in the way a person behaves and this gets moulded by the group he belongs to.

(Ralston, Hallinger, Egri & Naothinsuhk, 2005) This creates ethical dilemmas for the banking system as seen in the Middle East countries where banks have different norms in comparison to other western countries. This creates ethical dilemmas as a notion which is acceptable in a certain country might not be accepted in another country (Kowske, 2007). An instance of an ethical dilemma witnessed in the banking sector was in regard to the ATM machines.

People were drawing money and the notes issued by the machines were fake. This creates an ethical dilemma for the banks whether to change those by believing the client and accepting him to be true of not believing him. This is an instance of an ethical dilemma where accepting any side is a difficult proposition.


Culberth J & Juhnke G, “Supervision in Banking: Special Challenges & Solutions”, Reading for child & youth care worker, Volume 34, University of North Carolina, 2001

CPA, “Carbon Pollution Reduction Scheme: What will be the business impact on banks”, CPA Australia Ltd, 2008

Carse, D. Banking Conference of Business Ethics, Hong Kong, 1999, retrieved on April 5, 2011 from

Dogarawa, A. An examination of the Ethical Dilemmas in the Nigerian Banking Sector, Department of Accounting, 2006, retrieved on April 5, 2011 from

Geoghegan, T. Ethical Dilemma and an errant ATM machine, Philosophy of Science Portal, 2011, retrieved on April 5, 2011 from

Herlihy B, Gray N & McCollum V, “Legal & ethical issues in banking supervision”, Health Care Industry, CBS Interactive, 2002

Innah A, “the effect of cultural factors in banks working environment”, The New York Times Company, 2009

Kowske, B. Ethical Dilemmas across culture, Arabian Business, 2007, retrieved on April 5, 2011 from

Mortgage Notes. Mortage & Loans: Islamic Finance Avoids Interest. 2010, retrieved on April 5, 2011 from

Mulhauser, G. “Improve your supervisor relationship and reduce stress in the banking sector”, Mayo Foundation, 2010

McMahon M & Patton W, “Conversation on supervision: benefits perceived by banks”, British Journal of Guidance & counseling, Volume 28, Issue 3, page 339-351, 2001

Markley G, Cochran D & Buck G, “The effectiveness of new intensive supervision programs for banking institutions”, National Institute of Corrections, 2006

Ralston D, Hallinger P, Egri C & Naothinsuhk S, “The effects of culture on work place strategy of upward influence”, University of Bangkok, Elsevier Inc, 2005

Robert G & Michael P, “One Report: Better strategy through Integrated Reporting”, Harvard Business Standard Working Knowledge, 2010, retrieved on April 5, 2011 from www.One Report: Integrated Reporting for a Sustainable Strategy

Rawson D, “Banks Supervision”, Chartered Counseling Psychologist, Open University Press, 2003

Wong, M. “Social work manpower in Hong Kong”, Asian Journal of Public Administration, Hong Kong, 1985

Download full paperFile format: .doc, available for editing
Contact Us