Strengthening Ethical Finance for Inclusive Growth
The International Day of Banks, observed annually on December 4 and established by the United Nations General Assembly in its resolution A/RES/74/245, underscores the role of banking institutions in economic development and international cooperation. The UN framework, including the Addis Ababa Action Agenda on financing for development, highlights the need for resilient financial systems, transparent governance and equitable access to essential financial services. The founders, Dr. Hak Ja Han and Dr. Sun Myung Moon, have emphasized that stewardship of resources is a fundamental human responsibility inseparable from human dignity.
UPF underscores that banks influence access to financial services and the stability of local economies. At the same time, regulatory gaps in ethical lending, uneven implementation of due diligence and limited access to responsible credit in underserved regions demonstrate the ongoing need for improved standards. The call for transparency and integrity aligns with the UN Guiding Principles on Business and Human Rights, which outline the financial sector’s responsibility to respect human rights. Inclusive finance models, such as Islamic finance, community based microcredit and digital financial inclusion mechanisms referenced in UN development reports, offer concrete ways to widen access. Ambassadors for Peace of UPF working in finance can advance small business development, promote ethical lending standards and strengthen multi stakeholder engagement with regulators, civil society and international partners.
UPF International Association for Peace and Economic Development (IAED) convenes discussions on sustainable economic cooperation. Recent IAED related programs in the United States, including thematic webinars on ethical investment and local enterprise development underscored the value of clear ethical criteria in investment, support for local enterprise and constructive cooperation between public and private sectors.
UPF has also previously addressed financial challenges in public forums. Notably, during an International Leadership Conference in Brussels held shortly before the G-20 meeting in London, financial risk specialist Pascal Roussel presented an analysis of the global financial crisis, prompting substantive dialogue on the role and responsibility of financial institutions. Such historical engagements illustrate UPF’s longstanding interest in ethical financial governance. International economists such as Jim Rogers have noted that financial stability, open investment environments and coherent economic policies serve the public interest.
UPF calls for financial systems that ensure fair access to essential services and strengthen economic stability. When financial decisions reflect responsibility toward the wider human family, economic outcomes support stability and mutual prosperity.
Dr. Tageldin I. Hamad,
Chairman, Universal Peace Federation International
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