Ethical Practice & Reporting

Realise ethical values by being honest, trustworthy and transparent in all our decisions and actions.

ETHICAL PRACTICE & REPORTING

ESTABLISHED FRAMEWORKS AND POLICY.
Designed to increase our readiness in handling the threats and eliminating vulnerabilities within the system: 

• Technology Risk Management Framework 

• Cyber Resiliency Framework 

• Technology Risk and Cyber Resiliency Policy 

CYBER SECURITY AWARENESS PROGRAMME.

Conducted in collaboration with relevant external parties during Bank Islam’s Mega Conference 2019 to further increase awareness and knowledge of the Bank’s employees on emerging and prevailing threats and trends.

ACT WITH INTEGRITY PROGRAMME.
Held from 9 to 12 December 2019, the programme was conducted in conjunction with National Integrity Month and International Anti-Corruption Day. 

INTEGRITY AND FRAUD AWARENESS PROGRAMME.
1,213 participants of this training programme included Personal Financing executives, Wealth executives and Banking Service Manager, as well as those involved in the Centralised Verification Unit and Central Financing Processing Centre. 

INTEGRITY PROGRAMME FOR SENIOR MANAGEMENT.
To further raise awareness and share knowledge on the importance of Corporate Liability, a talk on the subject matter was conducted specifically for the Board of Directors and senior management teams of BHB and Bank Islam. 

VENDORS’ INTEGRITY PROGRAMME.
A briefing session to provide guidance on the roles and responsibilities of the vendors, as well as raise awareness on the proper procedures required in supplying goods and services to the Bank. A total of 221 vendors participated in the session.

KEEPING UP WITH REGULATORY CHANGES.
The year under review has seen issuance of policy documents covering Fair treatment of Financial Consumers, Outsourcing, Credit Risk, Shariah Governance, Risk Management in Technology and Takaful Operational Framework. The imposed guidelines further strengthened the corporate governance on business models and processes that will eventually mitigate risks that have been threatening the financial soundness and safety of Takaful operators and insurance players. 

UPDATING CORPORATE GOVERNANCE FRAMEWORK.
Adopted the principles and corporate governance conduct as stipulated in Best Practices for Islamic Stockbroking services undertaken by Participating Organisations. Compliance with the applicable rules, securities laws, and regulatory requirements, guidance and business conduct as well as internal policies and procedures which qualified BIMB Securities as an eligible Participating Organisation under the Green Lane Policy of Bursa Malaysia Securities.

KEY POLICIES AND GUIDELINES WITHIN BHB’S OPERATING UNITS.
Anti-Money Laundering and Counter Financing of Terrorism Prevent business from being misused as a medium for suspicious activities Whistle-Blowing Policy An avenue for immediate reporting or disclosure of any wrongdoing, misconduct, malpractice or irregularity to the relevant authority,

  • Anti-Bribery and Corruption Policy (Bank Islam)
  • Anti-Corruption Policy (Takaful Malaysia)

Zero-tolerance policy towards corruption, bribery and unethical behaviour. 

Personal Information Record and Management Framework (Takaful Malaysia) 
Established in accordance with requirements of BNM’s policy document on Management of Customer Information and Permitted Disclosure, and Code of Practice on Personal Data Protection for the Insurance and Takaful Industry.

Product Transparency and Disclosure Operational Guidelines (Bank Islam)
Requirements for disclosure on products and services, including products and services promoted or sold by third party.

Vendor’s Code of Ethics (Bank Islam)
A guideline for employees in carrying out the expected duties when dealing with vendors, sub-contractors and sub-vendors, and their staff.

Board Charter 
Our Board of Directors is expected to be fully committed in promoting and sustaining a strong culture of good corporate governance and uphold high standards of business integrity and professionalism when carrying out their duties and responsibilities in line with ethical values and Islamic principles.

Directors’ Code of Ethics 
Our directors adhere to the Code of Ethics for Company Directors issued by the Companies Commission of Malaysia, which provides guidance for proper standards of conduct, sound and prudent business practices, as well as standards on ethical behaviour for directors based on the principles of integrity, responsibility and sincerity.

Shariah Principles 
We are licensed under the Islamic Financial Services Act 2013 and regulated by Bank Negara Malaysia. In conducting Islamic finance businesses, we are guided by the Shariah Governance Framework.