3 Jul 2020
EUR 60 million
Financial institutions and SMEs
NIB’s Compliance function (also referred to as the Office of the Chief Compliance Officer or OCCO) addresses integrity and reputational risks in its daily business in accordance with the Compliance, Integrity and Anti-corruption Policy (find links here). The Bank has adopted a zero tolerance policy towards fraud and corruption, and places particular emphasis on combating and preventing any Prohibited Practice (corruption, fraud, coercion, collusion, theft, obstruction, money laundering, and terrorist financing) in the Bank’s activities and operations.
NIB investigates all suspected or alleged cases of Prohibited Practices, misconduct and non-compliance in accordance with the Investigations and Enforcement Policy. As investigations are primarily based on the allegations the Bank receives, it is of vital importance that both internal and external stakeholders take the initiative to report allegations or suspicions of any wrongdoing in relation to the Bank’s operations and activities.
NIB’s Speaking-up and Whistleblowing Policy aims to make it easier for staff and other stakeholders, including witnesses in investigations, to report in good faith any wrongdoings to OCCO. Moreover, the Policy establishes that retaliation against reporters or witnesses is prohibited and describes the Bank’s procedures for protecting whistleblowers.
Any person suspecting that Prohibited Practices, misconduct or non-compliance with NIB’s policies could have occurred in connection with an NIB financed activity is strongly encouraged to report it to the Bank. The report should be made to the Chief Compliance Officer and can be submitted anonymously. However, the Bank strongly encourages the disclosure of identity to facilitate the communication and enable a thorough investigation.
To ensure adherence to international practices and prevent corruption and money laundering in the Bank’s business activities, NIB has adopted an Integrity Due Diligence Policy. This Policy establishes the KYC (know-your-customer) principles followed by the Bank and covers issues related to criminal history, sanctions, money laundering, terrorist financing, tax fraud, tax evasion and cross-border structures.
The Bank has established an internal Council for Fighting Corruption to focus on preventive measures and raising awareness among the Bank’s staff and other stakeholders.
Code of conduct for the Control Committee
Code of conduct for the Board of Directors and the President
Rules of procedure of the Board of Governors
Rules of procedure for the Control Committee
Rules of procedure of the Board of Directors