What is
closing? It is an internal procedure that every business, institution,
organization and company undergoes. However, the closing of banks is the most
notorious one because they are the center of all the currency and finances
roaming about in various businesses. Even a small business has to do a daily,
weekly, monthly and then annual closing to learn about the details of what they
spent and what they earned. For banks, it’s about various other details since
the banking procedures are governed by various applicable laws. Why did I bring
up closing and why are we talking about the annual closing of banks? It is an
internal procedure and should have nothing to do with those not directly
involved but sadly, it does.
As the
year went through the annual closing, banks were all in chaos. People were
requested and even begged to leave their savings in their accounts. While large
account holders were similarly requested and begged to submit as much amounts
as they could. Why? Because the banks were doing their annual closing and they
needed the numbers. The numbers that they would use to advertise how great they
were doing. It is a sad sad predicament. Yet again, another institution of our
country only takes into account its own preferences and doesn’t concern itself
with the need, desire and preferences of its clientele.
My
person interaction with this situation was that when a needy person needed a
certain donated amount to purchase dowry for their daughter; the banks didn’t
facilitate them. This needy person was a labor who worked on daily wages and a
certain NGO had procured donations to fund the dowry of this person. Even
though, donations aren’t easy to arrange they still managed it. The only thing
that remained was to cash that donation and purchase the dowry. The banks just
didn’t let the NGO to cash out the amount because they were going through the annual
closing. How sad and unjust is that? The NGO then managed by using various
contacts and by asking favors from local business owners. However, this should
not have happened.
The
closing procedure is of an internal nature. The banks are service providers so
for them, the preference of their clientele should come first. Regardless of
whether or not they’re going through their daily closing, weekly closing,
monthly closing or annual closing.
This
article is written with the intent to point out that this is not appropriate
and that banks should revise the way they work. Aren’t bank managers and
officials supposed to be educated individuals? If so, then ideally educated
individuals in the service provision field should be more caring and humane
towards their clientele. Why is it that everything is going in the opposite
direction? We really, should go through a process of self evaluation. And in
the spirit of the beginning of a new year, we should rethink how we do things.
