This document represents the Anti-Bribery and Corruption Policy (“Policy”) of Baiduri Bank Berhad, Baiduri Finance Berhad and Baiduri Capital Sendirian Berhad
(“the Group”).
This Policy aims to clearly articulate the Group’s commitment to prohibiting bribery and corruption. The Policy defines the principles for identifying and preventing bribery and corruption to protect the integrity and reputation of the Group.
The Policy does not relate to customers and their transactions to the extent where they are dealt with in line with the Group Anti-Money Laundering / Combating the Financing of Terrorism (AML/CFT) Policy.
1.2. Scope
The Policy applies to the Group, its directors, employees and third parties.
1.3 Definitions
decision of any person, including any public official or any director, officer, employee, agent or representative of any commercial organisation or of any private individual.
Relation between a host and a guest whereby a host is providing for a guest's needs without charging costs (full or partials) to the guest. Providing accommodation, transportation, meals, trainings, invitations to events and conferences are examples of business hospitality. Business hospitality can also include entertainment, e.g. organised activity that aims to provide interest, enjoyment, or amusement to somebody as attendance to social or sport event, theatre
etc.
A voluntary contribution of anything of value, monetary or nonmonetary, with the express purpose of supporting those in need.
Corruption is the act of giving or receiving of any gratification or reward in the form of cash or in-kind for performing a task in relation to his or her job description
Documented reasonable steps taken to assess its integrity and exposure to bribery and corruption risks.
Employees include permanent, part-time and temporary employees of the Group.
Also referred to as “speed money” or “grease payment”, facilitation payments are typically small, unofficial payments made to public officials with a view to speeding up routine
governmental transactions. Examples include payments to speed up customs clearances.
Anything of value including items such as money, services, loans, or other benefits which are not business hospitality given willingly to somebody without payment for it
Baiduri Bank Berhad, Baiduri Finance Berhad and Baiduri Capital Sendirian Berhad
Kickbacks are typically payments made in return for a business favour or advantage.
(indirect benefits to public officials)
Persons which are known to be closely linked to public officials in a way that influencing this person must be influencing the public official him/herself, so that the public official is
influenced indirectly. Those may include close family members (e.g. spouses, children, parents, or siblings) or close associates
(e.g. personal advisors, or owned/controlled legal entities).
A donation, made in cash or in kind, to support a political cause. Donations in kind can include gifts of property or services, advertising or promotional activities endorsing a
political party or individual, the purchase of tickets to fundraising events, donations to research organisations with close associations with a political party and the release of
employees to undertake political campaigning or to stand for office.
Includes any individual who is in a permanent or temporary employment of a public body. A ‘public body’ includes (a) the Government of Brunei Darussalam; (b) any department,
service or undertaking of the Government of Brunei Darussalam; (c) any corporation, council, board, commissioners or other body which has power to act under and for the purpose of any written law in force in Brunei Darussalam or any part thereof relating to local Government, public health or undertakings of public utility, or otherwise has
power to administer funds belonging to the Government or money raised by rates, taxes or charges in pursuance of any written law in force in Brunei Darussalam; (d) any board,
commissioners, committee or other body specified in the Schedule of the Prevention of Corruption Act (Chapter 131).
Management
Chief Executive Officer and Deputy Chief Executive Officer (Compliance, Corporate Governance and Legal Advisory)
A transaction that involves paying a fee in exchange for providing exploitable commercial opportunities associated
with the agreed consideration. Sponsorship fees can be in monetary form or in-kind. Sponsorships, unlike charitable
donations, are commercial transactions done with the expectation of return for a sponsor following the agreed consideration.
Third parties are those who are retained to perform services or conduct business for and on behalf of the Group or those conducting business together with the Group, including but not limited to partners, agents, representatives, intermediaries, introducers, brokers, contractors, service providers, suppliers, vendors, consultants and joint venture entities.
A process of reporting on the basis of reasonable belief on attempted, suspected or actual bribery and corruption.
.
2.2 Prohibition on giving and acceptance of bribery and corruption
The Group prohibits giving any form of bribery and corruption to anyone nor the acceptance of any form of bribery and corruption from anyone for any purpose
by its employees and third parties who conduct business for or on behalf of the Group.
2.3 Implementation of robust ABC Programme
The Group is committed to implementing a robust ABC Programme supplemented by various policies and procedures to procedures to ensure that bribery and
corruption risks identified by the Group are appropriately mitigated.
Dealings with public officials must be treated as higher risk, and controls must be applied on the basis that public officials are more susceptible to offer or accept a bribe or become involved in a corrupt relationship due to the power they have to abuse their public office or position for private gain.
In line with the Group Code of Conduct, the offering, giving, or promising of any gratification or advantage, to any public official in order to influence their
decisions or to ensure favourable treatment is strictly prohibited.
However, gifts given on festive occasions under customary practice are permissible, subject to a maximum limit of BND50 and approved by respective
Heads of Divisions. Any gifts valued more than BND50 to be given to a public official must first be approved by the Head of Group Compliance and the Chief Executive Officer (CEO).
3.2 Facilitation payments and kickbacks
The Group strictly prohibits offering, giving or accepting any form of facilitation payments or kickbacks for any reason, including any activity or action that may
lead or suggest that a facilitation payment or kickback is offered, given or received.
3.3 Charitable donations, sponsorships, and political donation
Particular care must be taken when considering any requests for charitable donations and sponsorships to ensure that the requests are legitimate, and the
payment will not be used to facilitate and conceal acts of bribery. Due diligence must be carried out on the potential recipients prior to any provision of charitable donations and sponsorships.
As a matter of general policy, the Group does not make political donation whether in cash or in-kind as this can be perceived as an attempt to gain an
improper business advantage. Employees are strictly prohibited from making any political donation on behalf of the Group for whatever reason.
3.4 Recruitment of employees
The Group prohibits any form of employment opportunities, whether permanent or temporary in nature, that are used as an inducement to obtain or retain an
advantage in business. All candidates must go through a merit-based, and when applicable, competitive process. They must be screened prior to hiring to ensure they have not been convicted in any bribery or corruption cases.
3.5 Accepting gifts and business hospitality
Accepting or giving gifts and business hospitality is often an appropriate way to reflect esteem or gratitude or to build stronger business relationship. Nonetheless, as a general rule, the Group strongly discourages the acceptance of gifts and business hospitality from existing or prospective customers, third parties or business acquaintances that may influence or can be perceived to be able to influence the employee’s judgement in a decision-making process or put the employee in a position of conflict. Before accepting gifts and business hospitality, all employees must ensure compliance to the Group Code of Conduct.
3.6 Working with third parties
The Group requests every third party that performs work for or on behalf of the Group to read, understand and comply with this Policy that is made available to
them on the Group’s official website. The Group requests the third party’s compliance to be expressed in the form of an anti-bribery and anti-corruption
clause that is to be included in written agreements with the third party.
warranted. All reported cases need to be presented to the Group Audit Committee (GAC) for their information and further deliberation if required.
All reports of known or suspected bribery and corruption incidents lodged by any source will be treated with requisite confidentiality and will not be disclosed or
discussed with parties other than those charged with investigation and management of such reports.
Appropriate actions will be instituted against those found responsible for bribery and corruption incidents, including disciplinary actions, termination of
employment or termination of contract and reporting to the relevant law enforcement authorities.
Policy.
The Group’s zero-tolerance approach to bribery and corruption is communicated to all third parties at the outset of our business relationship with them and as
appropriate thereafter
- Prevention of Corruption Act (Chapter 131)
- Group AML/CFT Policy
- Group Code of Conduct
- Group Compliance Policy
- Group Outsourcing Policy
- Group Whistleblowing Policy
