CODE OF ETHICS OF THE EMPLOYEES OF STOPANSKA BANKA AD-SKOPJE
Anyone who knowingly disregards the below stated rules or does so through negligence, causes prejudice to the profession banker, to each of its members, to the good reputation of the institution where he/she belongs and to the reputation of the financial centre in general.
On the basis of Article 44 of the Statute of Stopanska banka AD – Skopje (A.D. No. 11/15.02.2001, A.D. No. 31/22.04.2002, BoD No. 278/23.05.2002 and A.D. No. 41/18.09.2002), the Executive Body of Stopanska banka AD – Skopje on 27.12.2002 passed the following:
Code of Ethics of the employees of Stopanska banka AD – Skopje
This Code of Ethics does not proscribe new obligations, it merely sets up standards that are generally accepted, because the banks have self-imposed these rules of conduct in order to maximise the professionalism in the conduction of the banking operations.
The employees of Stopanska banka AD-Skopje (hereinafter: SB) are obliged to commit to the highest standards of conduct, integrity and fairness in every interaction with the existing and potential clients of SB, thus giving contribution in the building of the reputation, efficiency, profitability and quality in SB's operations.
The rules of this Code of Ethics are based on the following principles:
1. PRINCIPLE OF LEGALITY IN OPERATION
• Each employee of SB is obliged to work in accordance with the laws and by-laws governing the banking operation, the Statute of SB and other general and specific acts of SB;
• Each employee of SB is obliged to cooperate with the internal control when reviewing his/her operation, as well as with the authorized external bodies;
2. PRINCIPLE OF INTEGRITY
• Each employee of SB is obliged to act honestly and in the best interest of the clients, of the bank and of the integrity of the market.
3. PRINCIPLE OF PROFESSIONAL CONDUCT
• Each employee of SB is obliged to complete his/hers working responsibilities thoroughly, timely and efficiently;
• Each employee of SB, during its working hours, is obliged to be neatly and properly dressed;
• Each employee of SB is obliged to hold business meetings exclusively in the business premises of SB or the premises of its clients;
• Each employee of SB should refrain from any activity that can discredit SB;
• External activities of the employees of SB should not harm SB's reputation and the performance of SB's functions.
4. PRINCIPLE THE CLIENT IS ALWAYS RIGHT
• Each employee of SB is obliged to serve the clients ALWAYS WITH A SMILE;
• Each employee of SB is obliged to serve and address the clients WITH RESPECT and never behave superiorly, disrespectfully and/or indifferently towards them;
• Each employee of SB should avoid doing personal things in front of the clients (such as: eating, smoking, manicure, reading newspapers or other printed material that is not work related);
• Each employee of SB is obliged to solve the differences and misunderstanding that might arise in the communication with clients in good faith, justly and patiently;
• Each employee of SB should make effort to serve the clients promptly;
• Each employee of SB is obliged to have equal approach towards every client;
• Each employee of SB is obliged to supply the costumer with correct and useful information on the products and services offered by SB and on the mutual commitments which these imply;
• Each employee of SB is obliged “to know its client”, in order to be able to propose to the client products or services which are most appropriate to the client's own particular needs;
• The employee should release the information as account balances, data on checks etc., to the clients in low voice, in order to protect the clients' privacy from the other individuals present in the room;
• Each employee in SB is obliged to avoid engaging in personal and too long conversations with the SB's clients when other clients are waiting to be served;
• The employee must not distribute to clients materials with political or other non-banking contents and accordingly he/she must not engage in political conversations while serving the clients;
• Within the scope of its competence, each employee of SB is obliged to protect the clients against unethical practices.
5. PRINCIPLE OF INFORMATIVITY
• Each employee of SB should be familiar, at least with the basic, information on the products and services offered by SB, thus allowing for accessibility of the information for everyone and everywhere.
6. PRINCIPLE OF PROFESSIONAL competency
• The employees of SB are obliged to transfer all the knowledge acquired by regular education or by supplementary specializations when performing his/hers working duties, hence contributing to the strengthening and promoting of the SB's operations;
• The employees of SB should show interest and self-initiative to further advance their professional knowledge.
7. PRINCIPLE OF OBJECTIVITY
• The employees of SB should not be directed by prejudices, favouritism, unreconciled interests, as well as other influences that may jeopardise their objectivity.
8. PRINCIPLE OF EFFICIENCY
• Each employee of SB is obliged to organize its operation in a manner that shall present basis for prompt, correct and expert decision-making.
9. PRINCIPLE OF CONFIDENTIALITY
• Each employee of SB is obliged to comply strictly with the duty of confidentiality and discretion in relation both to clients and to third parties;
• Each employee of SB is obliged to prevent any involuntary disclosure of information on its clients, by managing that information in a organized way and with due care. The employee must not leave data, documents, envelopes or other printed materials on the work desks, which can be easily read by unauthorized persons. The employee must not throw in the garbage documents related to the operations of SB or its clients that are not completely destroyed, can be easily assembled and their contents read;
• Each employee of SB is obliged to respect the confidentiality of the information received during the performance of its working responsibilities and is obliged not to use such information for the purposes other than those for which the information was received.
10. PRINCIPLE OF AVOIDING CONFLICTS OF INTEREST
• Each employee of SB is be obliged to report, to the direct superior, all the relations and issues that are liable to result in conflict of interests in the execution of its working responsibilities. Where such conflicts exist the employees are obliged to withdraw from the decision-making process;
• The employees of SB shall not participate in activities, where they expect, contrary to the interests of SB, for themselves or for a third party, direct or indirect material or other benefit;
• The term acquisition of material and other benefit shall also imply acquiring material or other benefit for the employee's:
- other legal or natural persons, through which the employee shall acquire indirect material or other benefit.
11. PRINCIPLE OF BAN TO RECEIVE GIFTS
• The employee of SB must not, directly or indirectly, demand or accept, or even attempt to demand or accept gift, service or any other valuable from a third person, in order for that person to receive privileged treatment in any aspect of the SB's operations, for itself or for others;
• A gift to the employee's spouse or children, or to another person through whom the employee shall indirectly receive the gift, shall be considered as a gift given to the employee, in case it is related to the performance of the employee's working responsibilities;
• The purchased shall be considered as a gift if the purchasing price is significantly lower than the market price;
• The employees must refuse EACH OFFERED gift, except in cases where the gift:
- is given publicly,
- is of a symbolic value and
- is given exclusively for personal reasons, on a personal occasion.
12. PRINCIPLE OF PUBLIC APPEARANCE
• When an employee of SB, as an individual, comments the work of SB publicly, or appears in the public on behalf and in the function of SB's public presentation, his/hers statements must be in compliance with the official policy of SB.
• Each employee of SB is obliged to receive approval from the general managers of SB, prior to disclosing any information regarding the operations of SB to the media (TV, radio, newspapers).
13. PRINCIPLE OF RESPECT OF THE COLLEAGUES
• Each employee of SB shall be obliged to keep the legitimate rights and interests of his/her colleagues as own;
• It is considered indecent for an employee of SB to prise himself/herself and to offend the colleagues, in their presence or in the presence of others;
• Every employee of SB in the everyday communication with his/her colleagues should be cooperative, polite, and act with patience.
14. PRINCIPLE OF LOYAL COMPETITION
• For the purposes of competition, with aim to diminish or to harm the reputation of the competition, the employee of SB may never pronounce or pass on incorrect information with regards to the business operations, the characteristics of the owner/s or of the managers and other authorised individuals, as well as to the products and services offered by the competition.
Disregard of the above stated provisions shall imply responsibility of the employee, for which the employee shall be accordingly sanctioned.
The work of the employees of SB that have direct contacts with the clients of SB, shall be evaluated in a procedure and using criteria that, apart from the accuracy and diligence in their operations, shall evaluate the employees' professionalism, rectitude and carefulness in the interactions with the clients.
Family, friends or other individuals why are not employees of SB visits to the premises used exclusively for direct service of clients are forbidden.
The employees of Stopanska banka AD-Skopje will constantly upgrade the reputation of SB by honest, fair, efficient, sound, meaning ethical business operation.
This Code of Ethics shall enter into force on the date of its adoption.
No. 01 - 4240
Gligor Bishev, PhD.
First General Manager
Second General Manager