Code of Ethics

منشور اخلاقی و رفتاری

Middle East Bank Charter on Code of Ethics and Professional Conduct

The Middle East Bank, believing in, and centering its operations around, protecting the clients’ interests, improving customers’ satisfaction and fulfilment of their expectations, endeavors to recruit efficient and capable staff, identify opportunities and utilize accessible market and business capacities.
Regarding the afore-mentioned ideas, the following principles form the Code of Ethics and Professional Conduct of MEB:

Principle 1- Confidentiality of Information

  • The customers’ information, particularly the banking information, is deemed to be confidential and, for security reason, classified and maintained in a proper manner in a way that no unauthorized person, within or out of the Bank, gets access to such information.
  • A requirement of recruits at the beginning and even after termination of employment is to keep all such information confidential and commit to non-disclosure of which, regardless of whether it is written, computer discs, machines, oral, audio tapes or video tapes,
  • The information may be disclosed to judicial competent bodies, if authorized to have access to such confidential information, solely in accordance with law (court order) and the (Central Bank) regulations.
  • The information requested by the Central Bank for supervisory purposes, is disclosed to that bank.
  • Principle 2- Dissemination of Information and Consultancy

  • Necessary information for the customer, if allowed by the rules and regulations, is regarded as immediate and provided, while if for whatever reason disclosure is not allowed, the customer is made informed, with the apology, of the impossibility of having access to which.
  • The customers are always provided with comprehensive information and consultancy services, proportionate to their banking services needs and type of business, aiming at enhancing satisfaction, protecting interests and creating value for the customers.
  • Principle 3- Nondiscrimination

  • The customers’ beliefs, expectations, criticisms and proposals are viewed with respect and it is highlighted and made clear (to the staff) that no discrimination in treatment is allowed.
  • Principle 4- Complaint Management

  • Dissatisfaction or complaint from customers about the type, quality and method of banking service provision is investigated promptly in accordance with the rules and regulations, and the customer is made informed of the results in writing in due time.
  • Principle 5- Accessibility

  • Providing the customers with easy and user-friendly access to banking services to meet their needs, with the aim of development and maintenance of long-lasting relations with the customers, is an endeavor which MEB constantly follows.
  • The Staff
    Principle 6- Job Requirements

  • The Middle East Bank views its staff as its main asset and driving engine for its growth and development.
  • The expected characteristics of staff include, among others, good conduct, politeness, trustable with keeping secrets, honesty and modesty, having a neat and clean-cut appearance, serenity, patience and accountability, which are taken into consideration when recruiting the personnel.
  • Providing pleasant working environment and conditions, creating merit-based fair and equal opportunities, offering sufficient and fair compensation, promoting welfare and streamlining organizational relations for the staff are among the measures which MEB takes responsibility to provide.
  • Design and implementation of the employee development and training courses for enhancing capabilities, skills and job knowledge as well as creating such an environment to promote the stimulus and connectedness of the personnel to the Bank, are amongst the best investments of the Middle East Bank.
  • Respecting the senior officials and following their directions in line with the guidelines, observing banking operations rules and regulations, precisely following and implementing the Bank’s policies, by-laws, guidelines and circulations and also showing respect to the customers and quickly meeting their needs with precision are the priorities of the personnel and the basic principles of the Bank.
  • Principle 7- Bribery

  • Giving or receiving a bribe, under any condition and title is unlawful and absolutely unacceptable. In case such a thing occurs, action will be taken.
  • Principle 8- Accepting Gifts and Personal Advantages

  • No gifts or personal advantages which may affect the Bank’s interest and reputation and harm the self-esteem, professional ethics and dignity of the employees can be accepted.
  • Principle 9- Avoiding Conflict of Interest

  • The employee’s personal interests and commitments shouldn’t conflict with the Bank’s interest nor adversely affect performing their duties and bearing their responsibilities. So, the employees are not allowed to work in other enterprises concurrently (teaching at universities and educational institutes, subject to prior approval of the Bank is allowed). In case of potential or existing conflict of interest, the employees are required to inform the Bank’s senior official and get the approval.
  • Shareholders
    Principle 10- Keeping the Shareholders Informed

  • In order to assure the shareholders that their capital is safe and well-protected, the financial statements, in a transparent and precise format, are disclosed to them.
  • Principle 11- Trustability

  • Enhancing the status and strengthening the financial position of MEB in the banking system through long-term profitability and wealth generation, aiming at building trust and continuous connectedness with the shareholders, is always highlighted.
  • Principle 12- Profitability

  • The Bank takes responsibility to safeguard the shareholders’ interests, believing that the shareholders earnings from the Bank should exceed their earnings from investments and operations, with the same risk level, in similar institutions.
  • Principle 13- Protecting the Assets

    Monitoring operations through:

  • Establishing risk and control management
  • Establishing the system of audit, assessment and evaluation of the results
  • Establishing good governance system.
  • In order to protect the assets, the Bank endeavors to avoid likely risks and secure the shareholders’ interests.

    Social Responsibility
    Principle 14- Development and Progress of the Country

  • Regarding the importance and pivotal role of the banks for the society, all activities, services and acts of MEB are planned to be in line with and for the progress and development of the country.
  • Principle 15- Environmental commitments

  • Abiding by the environmental standards, protection and conservation of natural resources and environment pollution prevention are among the MEB commitments and all the staff are fully aware of such concerns.
  • Principle 16- Dealing with Competitors

  • The MEB policy towards competitors is showing respect, healthy competition, fairness, respecting boundaries, refraining from disclosing any confidential information which relates to them and restraining from any destructive propaganda against them.
  • Principle 17- Media Relations

  • The MEB relations with the media is a social responsibility issue and is professionally and transparently established. The Bank information is disclosed, solely by the authorized managers and departments, to be published.
  • Principle 18- Philanthropy and Donation
    The Middle East Bank is committed to make donations to charities, organizations and cultural and educational institutions and considers it as its obligation.
    Responsibilities towards the Central Bank of Iran and Supervisory Bodies
    Principle 19- observing rules and regulations

  • The MEB requires itself to follow all by-laws, guidelines and circulations and closely collaborates with the CBI inspectors, representatives and officials.
  • Principle 20- Preventing Money Laundering and illegal activities

  • The Middle East Bank, abiding by all AML laws and regulations, does its best to impede any route of abuse and illegal activities.
  • The Middle East Bank has committed itself in fight against money laundry and terrorism financing, does not allow such activities in the Bank and informs competent authorities of any susceptible cases.
  • Principle 21- accountability and reporting

  • The Middle East Bank is always committed to provide authentic reports and responses to the CBI, legal authorities and supervisory bodies on its performance and services. It also publishes its full and transparent audited financial statements on its website and in the newspapers of mass circulation.

The Bank staff believe that the content of this Charter are in line with the mission and goals of MEB and are committed and obligated to abide by and implement it.