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 “Code” provides clear summary of Arab Bank’s expectation from its suppliers in all procurement dealings, ensuring that internationally recognized procurement ethics are followed consistently.
Arab Bank procurement ethics focuses on zero tolerance towards corruption, avoiding any form of conflict of interest and mandating honest representation of supplier’s capabilities.
Suppliers are strongly urged to familiarize themselves with this Code to ensure successful working relations with Arab Bank.
This Code shall be applied to all Arab Bank Suppliers and their sub‐contractors. Supplier(s) means the entity; including contractors and joint venture partners, that have a contractual relationship with Arab Bank, through which it supplies Arab Bank with goods and services under procurement activities.
EXPECTATIONS FROM SUPPLIERS
Suppliers are required to comply with the legal requirements and standards of their industry, and maintain 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, Supplier shall promptly notify Arab Bank of the situation and explain how they intend to operate in a responsible manner.
- Suppliers are expected to align with the following standards and are encouraged to exceed the requirements set forth in this Code.
ARAB BANK STANDARDS TO BE FOLLOWED BY SUPPLIERS
The below Standards define the minimum standards of professional, ethical and responsible behavior which must be met by contracted suppliers.
I. Policy on Corruption and Conflict of Interest
Arab Bank requires that 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 required 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 qualifies as a 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 declaration shall be construed as a conflict of interest and might result in the exclusion of the supplier 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 has, in good faith, sought out advice or has reported questionable behavior and/or a possible violation. Arab Bank will take disciplinary action up to and including termination of contract for anyone who threatens or engages in retaliation, retribution or harassment of the concerned individual. Identities and contents of all information or complaints will be treated strictly confidential.
II. 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.
III. Health, Safety Standards
Suppliers shall comply with all national and local, or applicable employee health and safety laws and regulations of the country where the goods and services are supplied.
IV. Environmental Standards
All our Suppliers are required to apply all local applicable laws related to environmental issues. We strongly encourage our Suppliers to develop a sustainable environmental policy, which aims at reducing waste and minimizing the environmental impact of their operations.
The Supplier shall not use subcontractors or assign to any other party its contractual obligations to Arab Bank, without prior written approval by Arab Bank. Prior written acceptance of this Code by the approved subcontractor or assignee is required before performing of services begins.
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 nature of 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