Ethics in Banking: Is It Possible?

Banks are frequently considered usurers, but this book argues that the production of wealth in society is driven by the personal pursuit of profit and must be guided by a superior mechanism to ensure collective well-being. It analyses a number of cases in banks and the financial industry and discusses topics like anti-money laundering, anti-usury, islamic finance, microcredit, and bank rescue systems.

Format: Hardback
Length: 178 pages
Publication date: 17 December 2022
Publisher: Springer International Publishing AG

Banks are often viewed as usurers, raising the question of whether ethics can be discussed when analyzing banking activity. This book delves into this topic, beginning with a historical and philosophical exploration. Philosophers such as Aristotle, Immanuel Kant, and John Stuart Mill proposed diverse theories regarding the importance of ethics in finance. According to Mill's perspective, the pursuit of profit by individuals drives the production of wealth in society. However, this alone does not guarantee collective well-being. A superior mechanism is required to transform this wealth into a benefit for all. This brings us to the role of financial institutions, which often face legal obligations. The book centers on the crucial role these institutions play in promoting the ethical use of money. The author conducts an in-depth analysis of various cases within banks and the financial industry, covering topics such as anti-money laundering, anti-usury, Islamic finance, microcredit, and bank rescue systems. This analysis includes both best practices and examples of unethical financial management, providing a comprehensive understanding of the ethical dimensions of banking.

Weight: 453g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031221477
Edition number: 1st ed. 2022