Code of conduct
The NBK Board takes the lead in setting professional standards and corporate values which promote integrity for the entire body, Executive Management and other employees. The Group Code of Conduct outlines the ethical standards expected of various stakeholders in the conduct of its business. This specifically covers the Board, Group employees and other stakeholders.
Related parties transactions
NBK Group Related-Party Transactions Policy outlines the guiding principles on dealing with and managing transactions with relevant parties, whether between the Group and its Board Members, their companies or their related parties, Executive Management, and employees including syndicated financing and trading activities. The policy is in compliance with regulatory and IFRS standards.
Conflict of interest
The Board monitors and manages the potential conflict of interest of the Group including the abuse of the Group’s resources and any misuse of powers. The Conflict of Interest Policy provides guidelines for the identification, reporting, disclosure, prevention, and strict limitation of potential conflict of interest, including rules concerning connected party transactions and potential conflicts of interest.
The NBK Board, Executive Management and employees are committed to preserve the confidentiality of information and data on NBK Group’s customers, as per the rules of the laws and instructions issued by the regulatory bodies in this respect. This has been well governed by confidentiality and information-security rules adopted and implemented within the group.
NBK Group promotes a transparent and collaborative working environment for all employees. The Whistle Blowing practices determine the guiding principles and procedures which enable the Group’s employees to escalate to the Chairman any significant disputes, their concerns regarding any potential violations, malpractice, and “reportable” conduct, and to allow independent investigation and monitoring of these concerns.