COMPLIANCE & ANTI-CORRUPTION
Since the beginning of 2019, Lebanon was facing different challenges
on various fronts (political, economic, monetary, and social) which led to
a financial crisis that is changing the landscape.
The depth and duration of the crisis shook the confidence of clients in the banking industry, among others. As a result, rebuilding trust will dominate the Group’s agenda for the next period.
Accordingly, Bank Audi is adding to its core guiding values the importance of clear and consistent communication: we recorded a host of online videos and press releases, launched our social media platforms, and had staff fielding client inquiries.
As precautionary measures and as part of the Bank’s lending activities, every credit transaction above a certain amount is subject to a credit risk opinion which is issued by functions that are independent from the credit originating functions. This helps ensure that the credit transactions and resulting risk profile are compliant with the Bank’s credit policy and risk appetite. In line with its credit policy, the Bank also refrains from financing activities that are unethical and/or illegal, which may present significant potential negative impacts on the environment, and/or may result in significant potential negative social impacts.
The depth and duration of the crisis shook the confidence of clients in the banking industry, among others. As a result, rebuilding trust will dominate the Group’s agenda for the next period.
Accordingly, Bank Audi is adding to its core guiding values the importance of clear and consistent communication: we recorded a host of online videos and press releases, launched our social media platforms, and had staff fielding client inquiries.
Thus Bank Audi takes all necessary measures to comply with various
regulations including:
- Laws and regulations adopted by a governmental regulatory body.
- Standards adopted by a self-regulatory body to which a business or entity has agreed to subject itself.
- Directives contained in our Compliance policies and our Code of Ethics and Conduct.
As precautionary measures and as part of the Bank’s lending activities, every credit transaction above a certain amount is subject to a credit risk opinion which is issued by functions that are independent from the credit originating functions. This helps ensure that the credit transactions and resulting risk profile are compliant with the Bank’s credit policy and risk appetite. In line with its credit policy, the Bank also refrains from financing activities that are unethical and/or illegal, which may present significant potential negative impacts on the environment, and/or may result in significant potential negative social impacts.
The disclosed information is relevant for the period ending 2020
