INTRODUCTION

Arab Bank is strongly committed to observing the highest professional and ethical standards in all its procurement activities. As such, this Code of Conduct for Suppliers has been prepared to provide a clear summary of Arab Bank’s expectations of its suppliers in all procurement dealings, ensuring that internationally recognized procurement ethics are consistently followed. Further, transparency and accountability should be strictly adhered to in all procurement activities.

Arab Bank's procurement ethics focus on zero tolerance for corruption, avoidance of any form of conflict of interest, and the mandate of honest representation of suppliers’ capabilities.

Suppliers are strongly urged to familiarize themselves with this Code of Conduct to ensure successful working relations with Arab Bank.

This Code shall be applied to all Arab Bank Suppliers and their subcontractors. Supplier(s) means the entity, including contractors and joint venture partners, that has a contractual relationship with Arab Bank, by which it supplies Arab Bank with goods and services under procurement activities.

EXPECTATIONS FROM SUPPLIERS

• Supplier confirms their compliance with the legal requirements and standards of their industry, and maintains accurate books and records demonstrating compliance with such legal requirements and standards, to the extent required by law.

• Where compliance with the Code could lead to a conflict with or a violation of applicable laws or regulations, the supplier shall promptly notify Arab Bank of the situation and explain how it intends to operate in a responsible manner.

• Our suppliers are expected to align with the following standards and are encouraged to exceed the requirements outlined in this Code.

  ARAB BANK STANDARDS TO BE FOLLOWED BY SUPPLIERS

  The following Standards define minimum standards of professional, ethical, and responsible behavior that contracted suppliers must meet.

  1. Policy on Corruption and Conflict of Interest

  Arab Bank expects all contracted suppliers and companies seeking to sell goods or services to conduct their business in accordance with the highest ethical standards. Suppliers or potential suppliers must strictly comply with all applicable rules and regulations on bribery, corruption, and avoid unacceptable business practices. Hence, suppliers are expected to observe the following:

  1. Shall not, directly or indirectly, offer to any Arab Bank Staff money, goods or a service as a consideration or in expectation of a favorable decision, information, opinion, recommendation, vote or any other form of favors which qualify as corruption;
  2. Shall not directly or indirectly, offer, give, or agree or promise to give any Arab Bank staff any gratuity for the benefit of/or at the direction or request of any Staff of Arab Bank;
  3. To immediately inform Arab Bank’s Point of Contact in the event that any Staff of Arab Bank solicits or obtained or has made an attempt to obtain gratification for himself/herself or for any other persons.
  4. To immediately declare if any of the Company’s staff and/or officers has any relative (to the first degree) employed with Arab Bank. Failure to make such a declaration shall be construed as a conflict of interest. It may result in the supplier being excluded from present and future procurement activities and/or other legal action as deemed fit by the Bank.

  Arab Bank will not tolerate any retribution or retaliation by anyone against a concerned Supplier who, in good faith, has sought advice or reported questionable behavior and/or a possible violation. Arab Bank will take disciplinary action, up to and including termination of the contract, against anyone who threatens or engages in retaliation, retribution, or harassment against the concerned individual. The identities and contents of all information or complaints will be treated strictly confidential.

  1. Employment Standards and Child Labor

  Supplier shall comply with all national, local, or other applicable labor and employment laws and regulations of the country where the goods and services are supplied, and all employees shall be of legal age established by local law. Suppliers must not engage in any labor trafficking (i.e., where individuals perform labor through the use of force, fraud, or coercion), they must also protect workers from being abused and exploited. Suppliers must ensure compliance with these obligations in their own business as well as in their supply chains.

  1. Health, Safety Standards

  Suppliers shall comply with all national and local, or applicable laws and regulations of the country where the goods and services are supplied, that are related to the health and safety of employees.

  1. Environmental Standards

  All our Suppliers are required to comply with all applicable local environmental laws. We strongly encourage our Suppliers to develop a sustainable environmental policy that aims to reduce waste and minimize the environmental impact of their operations.

  1. Sub-Contracting

  The Supplier shall not use subcontractors or assign its contractual obligations to Arab Bank to any other party without prior written approval from Arab Bank. Also, the approved subcontractor or assignee is required to acknowledge this Code before performing services in order to adhere thereto.

  1. Sanctions

  Breach of this Code of Conduct may result in actions being invoked against that supplier, in addition to any contractual or legal remedies. The actions applied will depend on the nature and seriousness of the breach and on the degree of commitment shown by the supplier in breach to its obligations under the Code of Conduct. The range of actions available to be imposed on the supplier includes, but is not restricted to, the following:

  • Formal warnings – that the continued non-compliance will lead to more severe actions;
  • Disclosure of the nature of the breach to Arab Bank and its subsidiaries;
  • Immediate termination of contract, without recourse.

ARAB BANK POINT OF CONTACT FOR SUPPLIERS

Suppliers or potential suppliers may report to Arab Bank any violation, misconduct, unethical or questionable behavior from any Arab Bank employee, in adverse to the above standards, related to procurement potential or existing dealings, using the following contact email: Ethics.Committee@arabbank.com.jo or reporting by visiting the Arab Bank Website and submitting the Speaking Up form (Contact us / Speaking Up)