Whistleblower Protection in Finance Sector Gains Momentum in Nepal

In an effort to promote transparency and accountability in Nepal’s finance sector, Double A (1991) Public Company Limited has introduced a comprehensive Whistleblower Protection and Reward Policy for its employees and stakeholders.

Purpose of the Policy

The policy aims to encourage reporting of any suspected violation of laws, dishonest or fraudulent activities, unlawful conduct, or non-compliance with International Corporate Governance Principles and Business Management Practice. By doing so, Double A seeks to foster a culture of integrity and transparency within its organization and across the finance sector in Nepal.

Confidentiality and Protection

Under the policy, the identity of the whistleblower will be treated with confidentiality as much as possible, and reports will be handled in a confidential manner to the extent feasible. The company has also ensured that there will be no consequences against any individual who makes a good-faith report regarding suspected illegal actions or wrongdoings.

Prohibition of Retaliation

Double A has prohibited retaliation against any individual who makes a report based on their reasonable belief of possible violation or wrongdoing. For those who believe they have been subjected to retaliation or consequences due to whistleblowing, Double A provides assistance through its Whistleblower Channel.

Financial Reward

In recognition of the crucial role played by whistleblowers in uncovering fraud and corruption, Double A offers a financial reward of USD 1,500 to individuals whose submitted information leads to the disclosure of offenses, fraud, corruption, or misconduct. This policy demonstrates Double A’s commitment to fostering a culture of integrity and transparency within its organization.

Accessible Whistleblower Channel

The Whistleblower Channel is accessible through [insert link], allowing stakeholders to report their concerns and complaints anonymously. This initiative is expected to promote ethical behavior and accountability among employees, and contribute to a more transparent and responsible business environment in Nepal’s finance sector.

By implementing this policy, Double A sets an example for other organizations in the finance sector to follow, promoting a culture of transparency, accountability, and integrity in Nepal’s financial industry.