Ethics at the Individual Level | PAPER II – PRINCIPLES & PRACTICES OF BANKING | MODULE D: ETHICS IN BANKS AND FINANCIAL INSTITUTIONS
Ethics at the Individual Level | Bank Theory Ethics at the Individual Level 1. Values, Norms, Beliefs and Their Role Values are deep-seated beliefs that guide behavior and decisions. Norms are shared expectations of behavior within a society or group, while beliefs are convictions that individuals hold to be true. Together, they form the ethical foundation of individuals and influence actions in professional environments like banking. Example: A banker may value honesty (value), believe that transparency builds trust (belief), and follow the bank’s code of conduct (norm). 2. Core Values: The Value of a Value Core values like integrity, responsibility, and fairness serve as internal compasses. They are non-negotiable and define personal and organizational identities. Illustration: If Integrity (I) and Responsibility (R) are each scored 1, the Ethical Strength (ES) of a person can be a simple function: ES = I + R I...