The purpose of the Principles of Conduct and Work Ethics in Financial Institutions is to enhance the ethical values and principles in the Financial Institutions and promote discipline, integrity, transparency, objectivity, efficiency and loyalty in employees when performing their duties and tasks.

Promoting ethical principles will help achieving the vision and mission of the Financial Institution, protecting its reputation, ensuring staff compliance with the principles of prudent behavior, achieving the concept of good governance, enhancing staff performance and professional behavior, dealing with good and poor performance of employees, and improving the image of the Financial Institution in general.

Such principles should be transformed into behavior and practices applied by the Financial Institution Staff by continuously promoting their application through all possible means by the institution. They shall be the reference tool that sets out the basic rules that define the professional behavior and characteristics employees should show and have at work.

The principles shall apply to all the employees of the Financial Institution, provided that the board of directors of the institution shall adopt a policy of Conduct and Work Ethics in accordance with the principles, relevant laws and instructions issued by competent authorities.

The principles define the minimum ethical conduct. In addition, it shall be the responsibility of all mangers within the Financial Institution to ensure that these principles are read, signed and enclosed in the employee file with the competent department. Managers shall also be responsible for determining the need to issue more detailed instructions and procedures within their departments to enhance compliance with these principles. The Financial Institution shall adequately explain the principles to the staff when joining the institution.