Title: Estonian Banks Embrace Good Banking Practice: Transparency, Ethics, and Compliance

I. Foundations of Good Banking Practice

• Estonian banks follow guidelines promoting fair competition, professional ethics, and a reliable banking system.
• Good Banking Practice covers organizing banking activity, relations with other banks, banking and society, and relations between a bank and its customers.

II. Relationships with Other Banks

• Principle of propriety, honesty, and mutual respect when interacting with each other.
• Fulfillment of obligations arising from agreements.
• Sufficient information exchange and avoiding disparaging competitors.

III. Compliance with Self-regulated Procedures and European Guidelines

• Adherence to advisory guidelines issued by European banking organizations.
• Establishment of additional instructions and standards by the Banking Association.

IV. Social Responsibility and Community Involvement

• Zero-tolerance policy regarding money laundering, terrorist financing, and international sanctions deviation.
• Prevention of money laundering and sanctions implementation is essential.

V. Banking and the Banking Association

• Contributions to Estonian society through societal developments and economic growth.
• Promotion of financial literacy and education for customers.
• Transparency through disclosing dividend policies.
• Adherence to marketing principles.

VI. Relations between Bank and Customer

• Trust forms the foundation of the relationship.
• Professional and trustworthy asset administration.
• Strive to avoid conflicts of interest.
• Code of ethics and principles for conflict avoidance.
• Bank employees serve customers professionally and honestly.

VII. Security and Confidentiality

• Prioritize security and confidentiality of customers’ assets.
• Incorporate both physical and IT security measures.
• Customers have the right to choose banks and services.
• Clear and accessible information on primary services, charges, and deposit interest rates.

VIII. Complaints and Banking Secrecy

• Attempt to resolve customer complaints through constructive dialogue.
• Use established internal complaint resolution procedures.
• Keep all customer information as banking secrets and safeguard it accordingly.