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Conduct & Ethics


uab has developed a comprehensive Code of Ethics which provides employees and Directors with a practical set of guiding principles to help them make decisions in their day to day work. The Code embodies honesty, integrity, quality and trust, and Employees, Senior Management, Directors and Contractors are required to demonstrate these behaviors and comply with the Code whenever they are identified as representatives of uab.

Enforcement of the Code of Ethics is within the purview of the Bank's Disciplinary Committee and reporting is made periodically to the Board Risk Committee.


For a copy of uab's Code of Ethics, please click on the link below:

Together with the Code of Ethics, a number of Corporate Policies have been adopted by the Bank.

  • Corporate Governance Framework

The framework provides an overview of the corporate governance structures, principles, policies and practices of uab. In order to serve the interests of shareholders, customers, regulators and other stakeholders, the framework proactively adopts governance policies and practices designed to align the interests of the Board and Management with those of stakeholders. The Framework also promotes the highest standards of ethical behavior and risk management at every level of the Bank.

The Board Policy is incorporated in the Corporate Governance Framework and this includes matters of Board governance including legal framework, role, responsibilities, appointment, number, composition, balance, chairman, meetings, committee and transparency. Continuous professional programs for Directors are also required.


  • Disclosure Framework

This framework defines the scope of information subject to disclosure by uab in its capacity as a bank licensed by the Central Bank of Myanmar. Subject to relevant laws and in accordance with regulatory requirements, the Bank will disclose relevant information that are accurate and factual to the appropriate constituents. It also governs use of information and knowledge generally not available on the market.


  • Dividend Policy

Dividend payments are governed by Section 40 of the Financial Institution Law which states that the payment of dividends shall only be from the Bank’s profits and which stipulates various restrictions to paying dividends.

The Bank’s Constitution further stipulates the procedures for Dividend payments.


  • Conflict of Interest Policy

The purpose of the Conflicts of Interest Policy is to enable the Bank’s employees and members of the Board of Directors to easily identify and prevent or manage conflicts of interest. This Policy includes examples that may arise together with minimum standards and principles for identifying and managing conflicts of interest. The Policy complies with the Financial Institution Law, 2016 and guided by various Directives from the Central Bank of Myanmar (CBM).

Disclosure of Director’s interest in transactions, related party transactions and procedures for declaration of interest are stipulated in the policy.


  • Whistle-blowers Protection Policy

The Whistleblower Protection Policy is aimed to encourage employees to report any wrongdoing in good faith and in an environment free from victimization so that the Board and Senior Management can adequately manage wrong doing and its related issues within the Bank.

The Policy applies to all internal stakeholders, including uab Directors, Managers, staff, contractors, consultants and each who plays a role in uab. The Policy further provides channels of communication for reports of wrong-doing.


  • Anti- Bribery and Corruption Policy

This Policy states the stance of uab on bribery and corruption. It complements uab ‘s Code of Ethics which states the standards of behavior expected from the Bank’s staff.

uab’s policy position is that any form of bribery and corruption is prohibited. This applies to promising, accepting, offering, paying, giving, soliciting, or authorizing bribes. The Bank also prohibits the falsifying and concealing of any books, records and accounts.

It also applies to all levels of staff including Members of the Board of Directors, Executive Directors, permanent staff, temporary staff, interns, advisers and consultants.

As part of its program, awareness sessions have been conducted throughout the organization. A Gift Guideline has also been issued to guide employees on the acceptance of gifts. Infringements of the Policy are handled by the Management Disciplinary Committee and periodic reports made to the Board Risk Committee.


  • Supplier/Contractor selection

The Bank’s Basic Procurement Guidelines sets the procedures for the selection of suppliers and contractors. Competitive bidding applies to all procurement of goods and services with an evaluation committee established for bids. The size of the contract or purchase will determine the authorization levels for selection and payments.  A proper record and an established documentation process is required to be maintained.


  • Anti-money Laundering Policy

The purpose of the manual is to prevent the Bank from being used in illicit money transfers, money laundering or criminal activities. The manual also sets basic "Know-your-Customer" (KYC) and Customer Due Diligence (CDD) principles for the opening of accounts or maintenance of relationships with the Bank. Enhance Due Diligence (EDD) processes are also set for higher risk accounts with transaction reporting standards specified in the manual. 

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