Banks must promote whistleblowing within industry – Fidelity MD

The Managing Director of Fidelity Bank, Julian Kingsley Opuni has urged banks to support the fight against ethical misconduct within the banking sector by promoting whistleblowing.

According to him, the need for banks to embrace proper ethical standards has become heightened with the rapid migration of banking systems and processes to digital platforms and opportunities.

Mr. Opuni made these remarks in his press address at the Ghana Banking Code of Ethics and Business Conduct, its impact, enforcement and other related issues.

He observed that it is necessary for banks to assume command over the mechanisms for control such as whistleblowing,  and ensure it is present at all levels of the organization. Additionally, Mr. Opuni ntoed that the digital systems and processes used by banks must be configured in a way that lets stakeholders receive the necessary information while ensuring that breaches are seamlessly identified and flagged appropriately.

“One key control that must be encouraged and given more focus is whistleblowing. This must be implemented at the national level and not only within banking institutions”

“Additionally, whistleblowers must be incentivised with corresponding rewards and accorded maximum protection. As we look to apply sanctions for non-compliance, we must also reward the whistleblowers to encourage more people to stand up and report ethical misconduct in the industry and society in general.”

Mr. Opuni subsequently noted that the essence of ethics should be taught at all levels of higher education in the country to ensure that the values of ethical practice are known and upheld at all times.