" Surname 22framework for ethical financial transactions in the industry. What is more, it recommends themeasures for taming unethical conduct. A major supposition derived from the study is thatcommercial banks need to adopt ethical values in their practices to create a morally inclinedbanking environment.Recommendations The challenge for many companies lies in balancing the prospect to make higher returnswith the necessity to sustain honorable principles in their daily transactions and processes. Theapplication of ethics should stamp out exploitation for instance, from the charging of higherinterest rates than the base line for increased profits. As the global market becomesincreasingly competitive, the use of stricter codes of ethics becomes even more critical giventhe perceptions of customers who are becoming increasingly attentive and sensitive intheirdecision-making. On the internal structures of the business, business ethics applies toextensive areas including corporate governance, which encompasses adherence to rules, theefficiency of boards, correct financial report auditing, executive remuneration as well as therole of the chief executives in setting moral standards.Business ethics strategies may be applied to an organization?s corporate cultureconcentrating on equitability of the application of human resource procedures, the adherence toorganizational values, labor and engagement practices, enabling the practical work and lifeequilibrium for employees, the conduct of managers and staff in aspects such as honesty. Inrelations with the external world, ethical principles may be employed in social relations such asensuring customer protection in relation to product quality, initiating and sustaining corporatesocial responsibility projects, respecting intellectual property and minimizing corrupt practicessuch as bribery.Internationally, there is an intensified emphasis on corporate ethics necessitatedby the substantial impacts of the downfall of corporations such as America?s Enron and Kenya?sTriton, which were caused by unethical practices by the executives. The impact of liquidatedfirms has been so momentous that several industrialized nations such as the United States ofAmerica have ratified laws aimed at curbing corrupt practices in organizations. The Americanlegislation?s include the Sarbanes-Oxley Act was endorsed to advance the transparency andaccurateness of financial reports and business disclosures as well as to emphasize thesignificance of business ethical standards (Jiambalvo 17). In addition to blatant corrupt practices, as the global economy becomes increasinglycompetitive, consumers are becoming more perceptive and interested in knowing the businessesprofit levels. The predicament, in this case, is whether a company should make substantial profitsfor its owners at the expense of customers who have to pay more as a result of higher prices. Forexample, consumers boycotted some oil retailers in 2008 due to the soaring international prices.Owing to the intensified significance of ethics in society and the steep costs associated withethical fiascos, it is vital that organizations include moral codes and practices in their businessstrategy.The investigations and findings in this research lead to the conclusion that the adoption ofadequate value systems by practitioners regarding ethical banking raises awareness andresponsibility.Usury practices should be avoided at all costs by the lending institutions, but ratherimplement policies that reward honest and fairness but penalize activities that go beyond theSurname 23normally accepted standards. Besides, the social aspect in financial institutions should focus onsocial renewal and the development of freedom, equal rights and responsibilities in financialdecision making. Moreover Trustworthiness should guide transparency in lending activities at avery high degree of ethical standards. The principle of equality and fairness in provision ofservices to customers should be the cardinal rule of all financial institutions in the bankingindustry.Surname 24Works CitedBeer, Lawrence A. Strategic and tactical approach to global business ethics. New York:Business Expert Press, 2015. Print.Bradburn, Roger. Understanding business ethics. Andover, Hampshire, United Kingdom:Cengage Learning EMEA, 2011. Print.Crisp, Roger. The Cosmos of Duty: Henry Sidgwick's Methods of Ethics. New York: JWS,2015. PrintFrancis, Ronald D. Ethics and corporate governance: an Australian handbook. Sydney: UNSWPress, 2011. Print.Hudon, Marek. "Norms and values of the various microfinance institutions." InternationalJournal of Social Economics 35.1/2 (2008): 35-48. Web.Jiambalvo, James. Managerial accounting. Hoboken, NJ: Wiley, 2016. Print.MacDowell, Banks. 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