Service to Others in Banking and Financial Services : Call to Action
Mohamed Ahmed Shallo & Noah Sesi Nzuki
8th edition (2020/2021)
Islamic finance / Regulation / Sustainability
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Banking and Financial Services: from Convenience to Ethics and Sustainability
Imagine travelling abroad for holidays. Then you walk into a local restaurant at a remote village, enjoy a local meal with heart-warming locals and pay the bill conveniently via a contactless transaction. At same time, you execute an instant international money transfer to buy a holiday gift for your family. Not only are you satisfied to have paid for a meal conveniently while abroad, but also because of the instant digital money transfer capability readily available at your fingertips. Convenient, fast, and secure: the buzz words of today’s banking and financial services industry.
However, imagine again that, as a customer, your satisfaction with banking and financial services is not only limited to financial institutions meeting your instant payment convenience needs but also extends to a higher purpose, whereby your transaction contributes indirectly towards positive impact on society and the environment. This would represent a shift in customer satisfaction needs from pure realm of materialism to that of service to others and a sustainable future. Would this not lead to a more sustainable world as well as a more sustainable banking and financial services industry?