The Role of Banking Secrecy in Activating Bank Governance: A Critical Comparative Analytical Study

Emran Abdulsalam Alzubi1, Duaa Hani Hijazi2, & Mona Elsayed Mohamed Omran3,

https://doi.org/10.62271/pjc.16.4.647.660

Abstract
This study aims to explain the role of banking secrecy in activating governance. In terms of the method of research and writing on the subject, this study relies on the comparative method and the applied method. In terms of the comparative method, appears through a presentation of the position of the Jordanian legislator and the position of other legislation. In terms of the applied method, it seems through a presentation of some provisions related to applications of the concept of governance to the banking sector. The results indicated that the application of banking secrecy in banks and financial institutions has important economic effects at the local and international levels, represented by increasing the ability of banks and institutions to expand mergers and investments and attract local and foreign capital, which leads to an increase in the rate of economic growth. Moreover, the study recommends that the concept of bank governance in general and the principles of confidentiality and transparency in particular, be consolidated in the work policies of banks and financial institutions.

Keywords: Banking Secrecy, Governance, Confidentiality, Transparency and Banks.