The Bank has codes of conduct for its staff, the Board of Directors and the President and the members of the Control Committee. These codes establish a shared approach of behaviour expected from the Bank’s staff and members of governing bodies and guiding them on everyday questions relating to ethics and integrity.
The codes of conduct are in place to prevent conflicts of interest, to prohibit the use of insider information, to provide guidelines for handling confidential information, for receiving and offering gifts, and for hospitality and representation. In addition, the codes contain limitations to the staff’s and the President’s possibility to trade in financial instruments.
Once a year, or when changes occur, the staff, the President and the members of the Board of Directors must disclose to the Chief Compliance Officer (CCO) any personal financial and business interests that might cause a conflict of interest.
In 2016, a code of conduct e-learning program was rolled out for all NIB staff. The training aimed at familiarising the staff with the code and to instil a culture of high ethical standards and integrity in the Bank.
To ensure vigilance and awareness among staff, the Office of the Chief Compliance Officer (OCCO) regularly provides in-class training of all new staff. OCCO also arranges training on anti-corruption and ethics for the members of the Board of Directors and the Control Committee.