ABOUT POLICY
The “Anti-Corruption Policy” of “ABB” OJSC defines the main principles, objectives and measures to be taken in in the fight against corruption. Bank ABB (hereinafter - ABB) views the corruption as a factor that has a significant negative impact on economic development and good governance. In this context, the Bank takes a “zero tolerance” approach to corruption. ABB is taking the necessary measures to timely and efficiently identify, assess and minimize the risks of corruption.
POLICY OBJECTIVES
The objectives of the policy are to form a mechanism for combating corruption at the Bank ABB on the basis of the legislation of the Republic of Azerbaijan, as well as the universally accepted principles of international law. The mechanism of action includes both preventive and anti-corruption measures.
BASIC PRINCIPLES OF THE FIGHT AGAINST CORRUPTION
The Bank's anti-corruption program is based on the following principles:
- Leadership and responsibility;
- Risk assessment and sustainable development;
- Internal controls and procedures;
- Training and communication;
- Information.
TO WHOM DOES THIS POLICY APPLY?
The Policy covers all employees of the Bank ABB, as well as counterparties, suppliers of goods, works, services, consultants in business relations with the Bank and other individuals and legal entities eligible for these statuses.
WHAT IS “CORRUPTION” FOR POLICY PURPOSES?
Corruption is the illegal acquisition of material and other benefits, privileges or concessions by the Bank ABB employees using their status, the status of the body they represent, their official powers or opportunities arising from those status and powers, as well as the seizure of such officials by illegally offering, promising or providing these material and other benefits, privileges or concessions to third parties.
ANTI-CORRUPTION IN RELATIONS WITH THIRD PARTIES
The Bank takes appropriate measures to prevent corruption in business relations with third parties. In this regard, the Bank:
- Investigates the reputation of potential third parties;
- Informs third parties about the ABB's anti-corruption principles and requirements;
- Oversees the giving and receiving of gifts, as well as business hospitality;
- Prevents conflict of interest;
- Takes into account the level of tolerance of third parties against corruption and their attitude to the prevention of corruption before starting a business relationship.
CONFLICT OF INTERESTS
As a result of a conflict of interest, the actions (inaction) of one of the parties may have unpleasant consequences for the other. In order to prevent this, every ABB employee:
- Take measures on a personal initiative to avoid conflicts of interest;
- Inform his / her immediate supervisor about the occurrence of a conflict of interest, as well as the circumstances that led to it.
GIFTS AND BUSINESS HOSPITALITY
The Bank ABB has a positive attitude to business hospitality, which is an important part of modern business etiquette, as well as its representative costs. The Bank ABB considers business hospitality as a tool that has a positive impact on the reputation and development of image. Bank accepts the amount of business hospitality on reasonable terms.
Bank employees may not demand or accept gifts for themselves and others that may affect the impartial performance of their official duties which are provided as a reward for their performance or create such an impression. The Bank accepts cash, securities, as well as services (work, leisure, entertainment, use of material goods, etc.) as a form of gift and Bank does not allow them to demand or accept from others.
Bank employees may accept small and symbolic gifts from third parties (for example: sweets, corporate notebooks, etc.), taking into account the current situation in connection with the performance of their official duties.
KEEPING RECORDS
Bank employees were required to report directly to their supervisor about the gifts received or presented to them, as well as about the cost of business hospitality. Bank employees must keep proper records in the internal bank system of gifts received or presented to them.
WHAT TO DO IN CASE OF CORRUPTION?
If ABB employees or third parties cooperating with the Bank ABB encounter cases of reasonable suspicion of corruption offenses, please contact the Hotline at +994 12 4930091 (ext. 2828) or provide information to e-mail achl@abb-bank.az. If a person who reports the Hotline about corruption offenses does not want to be identified, the Bank ABB ensures the confidentiality. As soon as Bank ABB receives information about corruption-related offenses, registers it and conducts proper investigation.
