INVESTIGATING THE USER PERCEPTION OF ETHICAL PRACTICE IN SAUDI BANKS

Abstract

Banking sector is an important sector for any country as it provides the means for the financing the different important projects. The most common problem that is faced by the banking sector is the problem of the interest rate. Islamic countries are also seen to be implementing interest rate. Besides that there are other ethical issues also that are seen to be faced by the banking industry. In country like Saudi Arabia where there are the strict laws and regulations, the banking industry is still seen to be facing the problems regarding implementation of the corporate ethics in their different functions. Most of the processes lack the transparency and the customers are not provided with the complete details. The purpose of this research is to determine the ethical issues faced by the banking sector of Saudi Arabia. This study has made the use of the primary methods in which a survey was conducted from 100 people who were contacted through e-mail. The findings have indicated that still there is the need to bring the improvement in the banking sector of Saudi Arabia regarding the ethical practices. In conclusion, the banks should make sure that they are not involved in any kind of the risky investments, and before investing in any project they should attain the permission from the people whose money would be invested. Banks should also inform their customers on the additional charges imposed for certain services.

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