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Journal of Business Ethics

Erschienen in:

01.01.2014

Putting Responsible Finance to Work for Citi Microfinance

verfasst von: Tzu-Kuan Chiu

Erschienen in: Journal of Business Ethics | Ausgabe 2/2014

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Abstract

This paper develops an ethical framework for responsible finance and then applies it to Citigroup (Citi), a major financial actor in the microfinance sector, to see whether it meets with such obligations. The framework consists of two categories of responsibility. The first category is the special social responsibility of financial institutions; and the second is the fundamental principles of ethical behavior in financial services. From Citigroup’s microfinance model, scope of business, and multiple roles in the market, the company seems to be fulfilling its responsibility in inclusive finance. However, judged in term of the principles of integrity, objectivity, fairness, professionalism, and diligence, it falls short of its ethical responsibility. In view of this shortcoming, Citigroup should recall its obligation to avoid conflicts of interest, to provide responsible advice, to protect clients from over-indebtedness, and most importantly, to act with integrity.

Vorheriger Artikel Business Ethics Index: Latin America

Nächster Artikel Negative Affect and Counterproductive Workplace Behavior: The Moderating Role of Moral Disengagement and Gender

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Titel: Putting Responsible Finance to Work for Citi Microfinance
verfasst von: Tzu-Kuan Chiu
Publikationsdatum: 01.01.2014
Verlag: Springer Netherlands
Erschienen in: Journal of Business Ethics / Ausgabe 2/2014
Print ISSN: 0167-4544
Elektronische ISSN: 1573-0697
DOI: https://doi.org/10.1007/s10551-013-1626-1

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