A Japanese bank, the Shikoku Bankattracted international attention due to a tradition dating back over 140 yearswhich ties the fate of its employees to an extreme commitment in case of fraud or financial crimes.
The bank, founded in 1878 as the 37th National Bank of Japan, has an oath that states that if an employee is involved in illegal acts that harm customers, will have to compensate for the damages with his personal assets and, in addition, perform a suicide ritual known as seppukuan ancient Japanese gesture of honor suicide, representing the end of life with dignity for dishonored samurai.
This oath, signed and sealed in blood by the founders and early employees, is considered a “treasure” for Shikoku Bank and is seen as a measure to ensure that the money is managed with the utmost responsibility.
A very questionable condition
The bank justifies this practice as a way to convey the importance of ethics and responsibility, not only as bankers, but as members of society. Despite its long history, the commitment of this bank has become subject of discussion and criticismespecially after an incident involving the Mitsubishi UFJ bank, where an employee stole large sums of money and valuables from customers.
This measure of extreme responsibility has attracted mixed reactions. On the one hand, it represents an example of the seriousness with which the bank intends to treat the issue of fraud, but on the other hand, it raises questions about the moral and legal treatment of such traditionsi in a contemporary context.
In fact, in many countries a commitment involving similar consequences would be considered illegal and immoralbut in Japan, the tradition of seppuku, although fortunately almost disappeared, is still a cultural element that has its roots in times gone by.
Today, Shikoku Bank’s commitment remains a symbol of a archaic value systemwhich however continues to be maintained as an essential part of its corporate identity. Despite the controversies raised, the bank persists in upholding its tradition as a way to ensure accountability and transparency in its financial operations.
