The Association of Christian Financial Advisers (ACFA) has come out in support of calls for a mandatory code of conduct for the banking industry. The ACFA said it wants to see ethics put back at the centre of banking and a return to the founding Quaker principles of ‘honesty, integrity and plain dealing’. Arwyn Bailey, of the ACFA, welcomed the accountability shown in Mr Diamond's resignation. ‘In falling on his sword and resigning Bob Diamond has done the honourable and probably inevitable thing. The pressure must have been intolerable, for both him and his family,’ he said. Barclays chairman Marcus Agius, who announced his resignation one day before, will now become full-time chairman and oversee the process to appoint Mr Diamond's successor. ‘Without question Mr Diamond is the man who carries the can, but given such pressure for him to resign, who would be willing to step into his shoes?’

Pray: for much higher standards of moral integrity in international banking and commerce. (De.8:18)

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