Point 2.15 in the Banking code of conduct reads : (we , the banks will ) Act with uncompromising integrity and fairness so as to promote complete trust and confidence in ourselves(the banks) and as an industry

Meaning of the words :

Uncompromising : not willing to give ground or make concessions about......

integrity: adherence to moral and ethical principles

fairness: absence of bias in specific realms

Trust : to be able to rely on........

Confidence: The hypothesis that a chosen course of action is the best and most effective.

This is a point that is being made by the banks that they will adhere to and we will be measuring actions of them against this.

See the Brandometer


Wednesday, November 3, 2010

The Banking code of conduct

The banks in South Africa adheres (or so they say) to the banking code of conduct of The Banking association of South Africa.
Full details available here: http://www.banking.org.za/consumer_info/code_of_banking/code_of_banking.aspx

Does this give clients a warm and fuzzy feeling ? Of course ! They just do not know that this is all a big BS story. It is Bull and the banks know it !

THE following has been copied from the introduction of the Code :

None of the provisions of this Code:
will be legally binding in any court of law;
may be used to influence the interpretation of the legal relationship between you and your bank;
will give rise to a trade custom or tacit contract or otherwise between you and your bank.

Still feeling warm and fuzzy ? If you do it is caused by the wool that has been pulled over your eyes
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