摘要：Ethics and ethical decision-making are not new concepts or ideas in banking and finance. Frankly speaking,in today’s business world,the prominence of ethical decision-making and corporate governance has expanded beyond the realm of academic world. This is evident via the extensive media coverage of corporate ethics crises such as well-known BCCI,Allfirst,Adelphia,Enron,Arthur Andersen,WorldCom and more recently Societe General among others resulting domestic and international regulations. Business ethics is considered critical for the reputation and competitive power of banks but banks are sometimes culpable of unethical behavior that costs to taxpayers billions such as the Imar Bank Inc. case in Turkey. This unethical behavior often takes the form of false financial statements to the creditors and misleading reports to the supervisory authorities. The main aim of this paper is to examine some of the causes of failure of the bank,the second,to scrutinize this unprecedented fraud,and the last,to deduct implications of the looting of Imar Bank Inc. within the framework of corporate governance and business ethics for a more robust supervisory system.
