The compliance policy of the International Bank of Azerbaijan is to identify and prevent violations of legislation on possible sanctions against the Bank, to implement the Bank’s transparent activities, to promote honesty and ethical behavior of employees and partners of the Bank, to comply with normative-legal acts, to protect the Bank's business reputation, and to strengthen correspondent relations and relations with the Bank's clients. Compliance policy is implemented on an ongoing basis.
Internal information and market manipulation
The main purpose of the International Bank of Azerbaijan is to protect the legitimate interests of the Bank's shareholders and customers, to ensure compliance with existing regulations in the area of operations, to prevent the abuse of inside information by employees, customers and partners and the prevention of manipulation in the securities market. The Bank adopts internal regulations to prevent the abuse of insider information, compiles and regularly updates the list of insiders reflecting information about them, and regularly monitors insider data abuses and ensures compliance in this area.
Fighting conflicts of interest
The International Bank of Azerbaijan's “Conflict of Interest Policy” defines the main principles, objectives and measures to be taken to resolve conflicts of interest; provides the application. The International Bank of Azerbaijan’s “Conflict of Interest Policy” defines the main principles, goals and measures to be taken to resolve conflicts of interest, improves high standards of corporate governance based on the principles of increasing customer confidence in the Bank, fair customer service and transparency. Bank employees should avoid situations that may affect their professional activities and the objectivity of their personal interests. The Bank expects its customers, third parties and partners to comply with standards for managing conflicts of interest. The Bank's conflict of interest policy is regularly reviewed.
The Code of Ethical Conduct of the International Bank of Azerbaijan OJSC defines the forms of behavior in relation to the Bank's staff, customers and partners. These include issues related to employee behavior on and off the job, prevention of money laundering and terrorist financing, employment in other organizations, handling of the Bank property, confidentiality and protection of the rule of law. Bank employees must act in accordance with the principles of professionalism, equality, corporate culture and ethical values in the work process. The Bank complies with labor legislation requirements and creates equal career opportunities for employees, maintains a high level of team spirit, resolves problems and misunderstandings through mutual discussion and considers mutual respect as a key element of corporate life.
Fight against corruption
The International Bank of Azerbaijan does not accept corruption under the Zero Tolerance Principle. Under no circumstances may Bank employees give, offer or demand a bribe, directly or indirectly, personally or through third parties, to facilitate administrative, bureaucratic or other procedures. Bank employees must not allow their personal interests or prejudices to be confused with professional responsibilities or conflict with the interests of the Bank's customers. The Bank expects customers, counterparties and partners to comply with anti-corruption and conflict of interest management standards. Anti-corruption and conflict of interest management principles and standards are designed to ensure consistency in the Bank's compliance risk management.