CODE OF CONDUCT
The Almoayyed International Group provides an ethical road map and guidelines for all team members and its divisions. Although we conduct business in several industrial segments, it is important that we have a common framework to ensure that our conduct is always aligned with our values. All team members of the Group are obliged to follow the tenets of the code of conduct. It encapsulates our values of integrity, responsibility, excellence, pioneering and unity. It lays down the principles of:
1. Compliance with Laws and Regulations
The Company values its reputation for complying with applicable laws and regulations in the conduct of its business. Therefore, every team member, while acting on behalf of the company, shall comply with all applicable domestic or foreign governmental laws, rules and regulations, while avoiding legally permissible conduct which is considered inconsistent with the ethical principles in which the Company subscribes.
2. Our Values
Our values are mainly partner centric where we are committed to knowing our partners and developing long-term relationships with them, making sure we provide them with excellent services. We work together as one team across our divisions providing a superior partner experience. We are trusted to deliver at every given opportunity, demonstrating integrity and quality to all our product and services. Treating all our partners in a fair, ethical and non-discriminatory manner, throughout the life cycle of the relationship, is an integral part of our working culture.
3. Our People
We recognize that our team members are our most valuable asset and are essential for the success of our business. We offer equal treatment to all job applicants and employees. We do not discriminate on the grounds of race, religion, color, nationality, ethnic or national origin, gender, marital status, disability or any other basis in accordance with good moral conduct. Discrimination, harassment, violence or bullying of any kind is not be tolerated. Each team member is responsible to any behavior that violates this policy. We take all allegations seriously.
4. Duties and Responsibilities
We rely on the employee’s personal integrity to protect our reputation. Each employee’s responsibility under this Code is to understand and comply with the Code and act fairly, honestly and with integrity when performing duties on behalf of the Company.
Managers have a greater level of responsibility. The managers lead by example, promote equal opportunity and not favor or victimize any colleagues, assist team members with ethical queries or direct them to someone who can help, inform team members on how to report misconduct and protect team members from any form of retaliation if they report such misconduct in good faith.
All employees must abide by the Company’s policy, its rules and regulations and act in accordance with the authority granted to them by the Management or Board of Directors.
5. Corporate Opportunities and Loyalty
Employees do not use the Company’s property or information or their position for personal gain or for the personal gain of members of their immediate families. Employees owe a duty to the Company to advance its legitimate interests when the opportunity to do so arises, as opposed to their own interests or the interests of a third party. An employee shall act honestly, diligently and in good faith and integrity in all dealings with the Company.
6. Fair Dealing and Fair Competition
Each employee will conduct all dealings with the Company’s partners, suppliers and other stakeholders fairly and will compete honestly and ethically. Employees do not seek to obtain any advantage for the company by manipulating or concealing facts, misusing privileged information, misrepresenting material facts or otherwise acting illegally, unfairly, dishonestly or unethically.
Employees may not discuss or share any confidential information or enter any arrangements regarding price, terms, conditions of sale, market allocation or boycotts, either directly or indirectly, with a competitor or any other person.
7. Confidential Information
Employees shall maintain the confidentiality of information entrusted to them by the Company or its suppliers or partners, except when disclosure is authorized by Almoayyed’s management or disclosure is required by law, applicable governmental regulations or legal proceedings. Whenever feasible, the employees shall consult with the Board of Directors before disclosing confidential information if they believe they have a legal obligation to do so.
Confidential information includes all non-public information that might be of use to competitors of the company, or harmful to the Company, its suppliers or partners, if disclosed. It includes all proprietary information relating to Group’s business such as customer information, budget, financials, credit, marketing, pricing, supply cost, personnel, medical records and salary information.
8. Marketplace Intel
Any information gathered on the marketplace are obtained only through legal and ethical channels.
9. Public Communication
Only designated spokespersons are permitted to issue statements on behalf of the Company. Employees are not permitted to post any official matters in any newspapers/magazines/TV/social media without PR Department approval.
10. Bribery & Corruption
It is the Company Policy to conduct all business in an honest and ethical manner. We maintain a zero-tolerance approach to bribery and corruption and are committed to acting professionally, fairly and with integrity in all our business dealings and relationships, wherever we operate and to implement effective systems to counter bribery.
Bribery includes not only direct payments, but also authorizing or permitting an associate or third party to commit any of the acts or take any part in the actions.
Gifts and offers: Employees are prohibited for soliciting / accepting or offering gifts or commissions in any manner with vendors, contractors, partners or from any third party.
Employees are prohibited from offering or promising any gifts, hospitality, loan, fee or other advantage to a public official with the intention of influencing them in the performance of a function to obtain a business advantage.
The policy prohibits corrupt payments, offers, gifts, travel and entertainment offers etc of any kind to partners or government officials and enforces the exercise of diligence to ensure that conduct is in line with Company policies and Laws.
Job Offers: Employees shall comply with the Company’s Recruitment Policy and if received any application is received in any unavoidable circumstances, the same shall be reported to the Division Manager or to the Human Resource Department.
Donations: Charitable donations are processed through Company Public Relation Department by Management or Board of Directors and Employees are prohibited to engage or to recommend for or of favors.
Potential Risks: Employees must be vigilant while dealing with issues/risks that may arise during the regular course of business and shall report the same immediately to Reporting / Division Manager. The employees shall avoid or report any case of an increased risk of improper or corrupt behavior, which may be by way of Excessive Commissions, unreasonable discounts, unusual/ complex terms, non-transparent documents etc.
Business Hospitality: The policy does not prohibit normal business hospitality, so long as it is reasonable, appropriate modest and if its purpose is to improve the Company image, products and services or to establish cordial relations.
Business hospitality processes and engagements must be pre-approved at all appropriate levels of Company Management and the assigned Company representatives shall engage in such events.
Offense: Bribery is a serious criminal offense in the Kingdom of Bahrain and can result in the imposition of severe fines or custodial sentences, exclusion from tendering contracts or severe reputational damage.
11. Financial Crime
We are committed to promoting the highest ethical and professional standards and strive to prevent the Company from being used, intentionally or unintentionally, for financial crime. We adhere to all applicable laws, regulations and international standards.
We never establish partner relationships or engage in transactions with prohibited partners, or partners who refuse to provide required information, intentionally provide misleading information or provide information that is insufficient to meet the on-boarding procedures. Suspicious activity is immediately reported to Group CFO.
12. Protecting Company Assets
Employees shall ensure that company resources are being used only for company purposes and are protected from loss or damage. The term “funds and assets” is all inclusive and covers both tangible and intangible property. Our assets include buildings, equipment and supplies, office furnishings, records and contracts, data, computer software, etc. or computerized equipment, in which the Company’s ICT policy shall be strictly followed.
13. Data Protection
Data Protection Laws will be complied with at all time where applicable. Personal information that we hold will be collected and used fairly and lawfully, will be accurate, relevant and up to date. Personal information will only be disclosed to those authorized to receive it and it will be ensured that inaccurate data is corrected or deleted.
14. Intellectual Property
Intellectual property, including the Company’s logo and other trademarks, service marks, patents, copyrights, trade secrets and other proprietary information, is one of the Group’s most valuable assets, however created, that must be used properly and protected from infringement by others.
Inventions, discoveries, ideas, concepts, written material and trade secrets which are created by an employee using company time, resources or materials are the property of the Company.
15. Conflicts of Interest
All employees should avoid any conflict or the appearance of any conflict in their personal interests, or the interests of their immediate family, with the interests of the Company.
Employees and members of their immediate families shall not have any material financial interest, direct or indirect, in any organization that is or is seeking to be a supplier of merchandise or other property or services to the Company. Additionally, an Employee shall not act on behalf of the Company in any transaction with another organization in which an immediate family member of the employee has a material financial interest or by which an immediate family member is employed in a management or sales and marketing position.
In general, employees and members of their immediate families should not request or accept gifts, gift certificates, discounts, gratuities or other items of value (including services) from any of the Company’s vendors or service providers. Invitations to lunch, dinner, or other such minor favors from vendors or suppliers that are normal in business and have no special significance attached to them are generally not considered as giving rise to any conflict of interest, though the particular facts and circumstances of each event will be considered.
16. Importance of Accurate Books and Records and Adherence to System of Internal Controls to Financial Reporting
All books, records, accounts and other financial information prepared by employees that are the building blocks of the Company’s external financial reporting must be reasonably detailed, must accurately reflect transactions and events and must conform to applicable legal and accounting requirements. The Company has established and maintains a system of internal controls over financial reporting that consists of policies and procedures designed and operated to provide reasonable assurance about the reliability of the company’s financial reporting and its process for preparing and fairly presenting financial statements in accordance with generally accepted accounting principles in the country. This system includes the Company’s policies and procedures for maintaining accurate and complete accounting records, authorizing receipts and disbursements and the safeguarding of assets.
17. Compliance with this Code
Any employee having information or knowledge of any actual or contemplated transaction or conduct that appears to violate this Code or who becomes aware of an actual or potential conflict of interest shall promptly report the matter to the Group GM – HR & Administration.
The failure of any the Company employee to comply with this Code will result in disciplinary action which, depending on the seriousness of the matter, may include reprimand, probation, suspension, demotion or dismissal, and possible civil or criminal action including reporting the unethical behavior to the appropriate authorities. Disciplinary measures will apply to supervisors and senior executives who condone questionable, improper, or illegal conduct by those employees reporting to them or who fail to take appropriate corrective action when such matters are brought to their attention, or who allow unethical or illegal conduct to occur because of their inattention to their supervisory responsibilities.
18. Our Communities and The Environment
We are committed to good corporate citizenship and shall actively assist in the improvement of the quality of life of the people in the communities in which we operate. We encourage our workforce to volunteer on events that benefit the communities, provided the principles of this Code, where applicable, and in particular the ‘Conflicts of Interest’ clause are followed.
We support and encourage the use and development of environmentally friendly technologies, products, and services, looking to contribute to sustainable development. The Company is committed to its corporate social responsibility by promoting environmental practices and products that protect the environment while enhancing the lives of our employees, our partners and our communities.
19. Promoting Health, Safety and Well-being
The Company aims to provide a safe and inspiring working environment to all employees. All employees are required to conduct their duties without endangering health and safety in the workplace. At Almoayyed, it is every employee’s right and responsibility to maintain health and safety activities that promote the development of well-being for themselves and their work community.
Discipline is paramount for any organization and the Company expects their employees to respect each other and work together as a team in peace and harmony. It is the policy to establish and maintain a favorable work environment and effective relationships between the group and its employees.
21. Amendment, Modification and Waiver
This Code may be amended or modified upon recommendation. Waivers of or changes in this Code may only be granted by the Board of Directors.