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The Association of Professional Bankers should get involved in enhancing professionalism in the banking industry, General Manager of the Bank of Ceylon A. Sarath de Silva, the newly elected President of the Association, said recently.

Addressing the members of the Association immediately after he was sworn in as the new president, Mr de Silva said he would focus on three areas which he considered vital for professionalism during his tenure of office.

They are the development of a Code of Ethics and Standard of Professional Conduct for the banking community, Knowledge Management and Continuous Professional Development.

Explaining why a code of ethics is important for bankers, Mr de Silva said that during the last decade, the banking industry had undergone a rapid and significant change globally as well as locally which continues even today. "Whether we are in the private sector, public sector or the government, we are being compelled to pay attention to good governance, transparency and the protection of fundamental rights which includes the privacy of customers. Hence, it is time for bankers not merely to make a declaration of our agreement with these issues, but also take positive steps to implement them. A Code of Ethics is a set of promises we make to our customers; promises which are based on two principles - trust and confidentiality", he said.

He also pointed out that banks enjoy more flexibility with the introduction of deregulation. "More flexibility means more responsibility and more self-discipline", he said.

He further said that they as bankers should not forget the vast changes experienced in the banking sector with the passage of time. "Deregulation, increase in the number of banks and branches, the range of services offered, information technology which revolutionised the banking sector, allowing customers to get the services without having to visit the banks and competition between the banks where the ultimate beneficiary is the customer are some of these," he said.

"However, in the intensity of competition, we must not overlook the noble traditions of banking. Long-term customer relationships which are maintained in both good times and bad have been one of the pillars on which these traditions have been built. We must preserve this", he said.

Referring to Knowledge Management, Mr de Silva said that knowledge should be shared. "Knowledge Management is risk management and sharing the knowledge can help mitigate risk. Knowledge management is the channel through which we can play this role. I fully subscribe to the prediction that the future belongs to those people who are capable of creative thinking", he said.

He invited the members present to get involved in Continuous Professional Development. "In fact, in the changing environment of financial services, everyone should keep up to date or ahead of new developments. Our professional stature will depend on our ability to accomplish this. Continuous Professional Development is a process of keeping one's professional and technical knowledge current. It is a method by which one can continue to expand and develop the skills required to maintain one's competence and confidence", he said.

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