About Us / အုပ်ချုပ်မှုစနစ် / Governing Policies

Governing Policies

uab bank has formulated and implemented several frameworks, policies, procedures and adopted statements, which provide guidance towards not only better governance practices but also guide us to become a socially responsible financial services provider.

The monitoring, implementation and measurement mechanism of some of these policies are reported in our Non-Financial KPIs report, Non-Financial Activities  report and Dashboard & Data Overview.

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 behaviour 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.

You can read more here:
Corporate Governance 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.

You can read more here:
Disclosure Framework

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 stipulates various restrictions to paying dividends. Further, the Bank’s dividend policy is also guided by its Constitution as explained by this Policy document.

You can read more here:
Dividend Policy

The Whistleblower Protection Policy is aimed to encourage employees and all other parties, to report any wrong-doing 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.


Reporting
We urge you to blow the whistle using the following platform, if you know about, or suspect any unethical business conduct, Conflict of interest or Malpractices.

To seek advice on how to blow the whistle while being protected from reprisal, you may address queries to the following contacts


You can read more here:

Whistleblower Protection Policy

We take a zero-tolerance approach to bribery and corruption and are committed to act professionally, fairly and with integrity in all our business dealings and relationship. In ensuring this, we have introduced various initiatives as an adequate measure to combat corruption and to safeguard our interest and interest of stakeholders. The policy applies to all levels of staff including Members of the Board of Directors, Executive Directors, permanent staff, temporary staff, interns, advisers and consultants.

Reporting
Where a member of staff knows of an actual incident or breach of this Policy or any attempt to bribe or otherwise engage in corruption, he/she must report immediately to his/her Supervisor. Employees are encouraged to raise concerns and report violation without the fear of penalties or reprisals. Any member of the public may also contact our Call Center at +95 1 855 1335~42.
The Whistle Blowers facility is also available with channels:
A. Direct Email Channel: [email protected]
B. SMS Reporting Channel: +95 944 44 36 309.

You can read more here:
Anti Bribery and Corruption 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.
Disclosure of Director’s interest in transactions, related party transactions and procedures for declaration of interest are stipulated in the policy.
The procedures for disclosure of conflict of interest and related party transactions are stated in the Policy.
You can read more here:
Conflict of Interest Policy

Our AML/CFT Policy and related procedures are designed to comply with all applicable laws and regulations related to money laundering, terrorist financing, financial crime, and international sanctions. The Policy applies to all units of the Bank and our subsidiary company irrespective of their location.

You can read our AML/CFT Policy and Procedures here:

Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) Policy

To manage risk effectively, the Bank has adopted the Risk Management Framework, which lays down the approach the Bank uses to identify and manage the risks. Within the Risk Management Framework, the Bank ensures that all key elements are categorised and that appropriate planning for contingencies are in place.

Read more on our approach to risk management here:
Risk Management Framework
Related party transactions can present a potential or actual conflict of interest which may be against the best interest of the company and its shareholders. In light of above, uab bank has formulated and implemented its policy for related party transactions.

You can read more here:
Policy on Related Party Transactions
The exchange of gifts and benefits between the Bank and its stakeholders is normal in the course of business but may appear improper even if there is no unethical intent. We are committed to doing business on merits, not on gifts or offers we give or receive. While accepting or giving gifts we follow 5 principles:
  • It is for a proper purpose
  • Permitted by law
  • Permitted by our policies
  • Permitted by recipients’ policies and
  • Reasonable in value and appropriate in circumstances

You can read our Gift Guidelines here:
Gift Guidelines
These Human Resources policies are principles which the Bank will use in managing its people, employment and labour policies. They serve as a reference point when human resources management practices are being developed or when decisions are being made about the Bank’s workforce.

You can read our Human Resources Policy here:
Human Resources Policy
uab bank supports the principle of fairness and non-discrimination, and aims to treat individuals with dignity and respect, free from unlawful and unethical discrimination. In particular, it aims not to discriminate on race, religion, sex, sexual orientation, gender identity, national origin, marital status, age or disability; rather it aims to build a workforce that is based on meritocracy.

This policy sets out uab bank’s position on equal opportunity in all aspects of its employment including recruitment, training, conditions of service, application of policies and promotion.

You can read our Equal Opportunities Policy here:
Equal Opportunities Policy
As an equal opportunity employer, uab bank is committed to providing a work environment that is professional and free from intimidation, hostility, humiliation, bullying, mobbing or other offenses which might interfere with work performance.

If such harassment occurs on the Bank’s premises or is directed toward an employee or persons referred to, the procedures in this policy will apply.

You can read our Anti-harassment Policy here:
Anti-harassment Policy
So far as is reasonably practicable, the Bank will endeavour to reduce the potential for risk to the health, safety and security of individuals working and visitors to the Bank’s premises and offices.

The Policy applies to individuals working, training or present at branches, retail outlets, Zone Office and Head Office and those who are not present on Bank Premises but are working on behalf of the Bank elsewhere.

You can read our Health & Safety Policy here:
Health & Safety Policy

Whilst primarily a financial services provider, we also play a multifaceted role as employer, consumer, philanthropist and various other contributions in fulfilling our corporate social responsibilities. In general, these responsibilities are towards our stakeholders which include our Shareholders, Employees, Vendors, Customers, Regulators and our Community. In order to meet and guide us though these multifaceted responsibilities, we have adopted several codes and statements.

You may read more on our statements and codes by clicking the respective items below:

Vendor Code of Conduct
Product Responsibility Statement
Statement on Charitable Contributions
Statement on Stakeholder Concerns
Statement on Human Rights