Anti-corruption policy
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Anti-corruption policy

ABOUT POLICY

The “Anti-Corruption Policy” of the “International Bank of Azerbaijan” OJSC defines the main principles, objectives and measures to be taken in in the fight against corruption. The Bank 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. Bank employees must be guided by the principles of Corporate Culture and Ethical Values, Professionalism and Equality in the work process.                                                                                                             

TO WHOM DOES THIS POLICY APPLY?

The Policy covers all employees of the Bank, 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?

Corruption is the illegal acquisition of material and other benefits, privileges or concessions by bank 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.

If the Bank's employees or third parties cooperating with the Bank face cases of reasonable suspicion of corruption offenses, they should report this to the "Hotline" phone number +994 12 4930091 (ext. 2828) or by e-mail achl@ibar.az.

GIFTS AND BUSINESS HOSPITALITY

The Bank has a positive attitude to business hospitality, which is an important part of modern business etiquette, as well as its representative costs. The Bank 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?

In this regard, the "Hotline" should be informed by phone number +994 12 4930091 (ext. 2828) or by e-mail achl@ibar.az.

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