National Bank of Egypt Unveils Whistleblowing Policy to Combat Misconduct and Protect Employees

Introduction

The National Bank of Egypt (NBE) has announced the implementation of a comprehensive whistleblowing policy aimed at preventing and addressing misconduct within the organization.

Encouraging Reporting and Protection for Whistleblowers

According to the policy, employees are encouraged to report any suspected wrongdoing or unethical behavior without fear of retaliation. The reporting process is designed to be fair, objective, and confidential, with all reports thoroughly investigated by NBE’s internal control functions. The policy ensures that whistleblowers are protected from retaliation and provides a safe environment for them to report misconduct without fear of reprisal.

• Any employee found to have retaliated against a whistleblower will face disciplinary action.
• Whistleblowers are encouraged to report any suspected wrongdoing or unethical behavior without fear of retaliation.

Investigation Process

Investigations will be conducted in a fair, objective, and timely manner, with regular updates provided to the Regulatory Compliance Group Head on the investigation progress.

• Investigations will be conducted in a fair, objective, and timely manner.
• Regular updates will be provided to the Regulatory Compliance Group Head on the investigation progress.

Penalties for Violations

The policy outlines penalties for malicious or misleading reports, as well as for any employee found to have engaged in serious misconduct or illegal activity.

• Penalties will be imposed for:
  • Malicious or misleading reports
  • Serious misconduct or illegal activity

Key Roles and Responsibilities

The Ethics Officer will oversee the implementation of the policy, coordinate with investigators and Human Resources, and ensure that corrective action is taken in a timely manner. Department/branch managers are responsible for communicating the policy to their employees and fostering a whistleblowing culture within their teams.

• The Ethics Officer:
  • Oversees the implementation of the policy
  • Coordinates with investigators and Human Resources
  • Ensures timely corrective action
• Department/branch managers:
  • Communicate the policy to their employees
  • Foster a whistleblowing culture within their teams

Retention Periods

NBE will retain documents related to whistleblowers’ reports, investigations, and actions taken for a minimum period of five years.

• Documents will be retained for a minimum period of five years.

Policy Review and Updates

The policy will be reviewed every two years or whenever necessary by the Ethics Officer to ensure compliance with laws and regulations protecting whistleblowers.

• The policy will be reviewed every two years or whenever necessary.
• The review will ensure compliance with laws and regulations protecting whistleblowers.

Conclusion

The National Bank of Egypt’s commitment to transparency and accountability is evident in this new policy, which demonstrates its dedication to creating a safe and ethical work environment for all employees.

Contact Information:

For any questions or concerns related to the whistleblowing policy, please contact whistleblower-ecompliance@nbe.com.eg or call the Hotline at 73740.