In a surprising and extreme move, Shikoku Bank's leadership has pledged to pay with their lives if found guilty of financial misconduct.
Bank executives are often held to high ethical standards since they manage the wealth of many people.
However, it's rare for them to face such severe consequences, especially in the modern world.
Shikoku Bank, based in Japan, has made an extraordinary commitment, taking it to a level that seems almost unbelievable.
The bank's top 23 executives, including President Miura, signed a blood oath promising to commit seppuku, a form of ritual suicide, if they are found guilty of financial irregularities, embezzlement, or other fraudulent activities.
This pledge, rooted in the samurai tradition of Japan, was posted on Shikoku Bank’s website and quickly went viral. Reactions have ranged from admiration to disbelief.
The official statement from the bank reads: “Anyone employed by this bank who has stolen money or caused others to steal from the bank will pay for it with his or her own property and then commit suicide.”
This pledge was signed by all 23 executives, including Miura, and dates back to a similar agreement signed by employees of the Thirty-seventh National Bank, the predecessor of Shikoku Bank, founded in 1878.
Seppuku, a ritual suicide, was historically used by samurai to preserve their honor after failing their lord.
By signing this document, the leadership of Shikoku Bank has committed to uphold this extreme measure of responsibility for any financial misconduct within the institution.
This action has sparked comparisons between Japanese banking practices and those of other countries.
In particular, American bank executives often face little to no personal responsibility for financial errors, especially when it involves mishandling client funds.
The pledge made by Shikoku Bank's leadership offers a stark contrast to such practices, highlighting the deep cultural roots that influence how business is conducted in Japan.
