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IBLF Global discusses how to promote prosperity and eliminate corruption at Standard Chartered
April 30, 2019
It was great to meet old and new friends at an event organised by Standard Chartered Bank at their London headquarters. "Anti-Bribery, Pro-Business: A Discussion on Promoting Prosperity and Eliminating Corruption" was expertly chaired by SC's Hilary Huber. Fellow panelists Jennifer Haslett (HM Treasury), Phil Mason OBE (ex-DFID), Richard Morgan (Anglo-American) and Brook Horowitz engaged in a lively exchange on trends in compliance and ethical business practices in high-risk markets.
There are still many challenges, such as weak rule of law, poor enforcement, and different business traditions. There was consensus that there need to be incentives as much as penalties to make the cultural change happen.
Global multinationals have a very special role to play in promoting business integrity among employees and in their supply chains around the world; and in engaging with the host governments to create a fairer and more transparent business environment which will stimulate trade and investment.
Could more be done by companies and governments working together in this way?
Brook Horowitz with colleagues at Standard Chartered