About Us / Governance / Code of Ethics

Code of 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 behaviours 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.

Adherence to Code of Ethics is a term and condition of employment and the Bank will take all necessary measures to enforce it, up to and including dismissal.

Reporting and processes of incidences, complaints, and breach of policy & procedures:

To monitor compliance, a reporting structure is in place to report incidences, complaints and breach of policy & procedure as follows:

  • Compliance Officers are appointed at all branches and head office departments and their duties include the monitoring and adhering of all policies and procedures of the Bank and reporting of incidences and breaches.
  • The Bank has adopted an Incident Reporting mechanism that require the reporting of all operational incidences and breach of policy (as recommended by the Basel standards). Such reporting is required to made by Compliance Officers and Section Heads within 24 hours of the incident to the Risk & Compliance Department and Operations Department at Head Office. Incidences are further escalated to the relevant Supervisors
  • Further, the Bank was following open lines to receive complaints from Customers and Stakeholder:

Each incident raised through the above will be reported through the Incident Reporting mechanism.

  • Reported incidences are escalated to the relevant Supervisors and where this involves the breach of the Code of Ethic or misconduct, the incident is handled by the Disciplinary Committee.
  • The reporting of all incidences is made to the Management Committee and Board Risk Committee by the Risk & Compliance Department through the Bank’s Compliance Officer. The closure of all incidences reported is also monitored.
  • The Internal Auditors as the 3rd Line of Defence also make independent reporting to the Board Audit Committee on compliance matters.
  • Employees are also encouraged to report incidences through open communications to their Supervisors, Heads of Departments or Human Resources Business Partners. Confidentiality and whistleblowing protection is also available to employees as described in the Bank’s Whistleblower Protection Policy.
  • Over Financial Year ended 31st March 2023, disciplinary action on 33 (thirty three) cases were taken on matters resulting from incidences, complaints and infringement of the Code of Ethics and other Policies of the Bank.

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

Continue reading our other supplemental policies and frameworks;