Al Masaood | Abu Dhabi | UAE

Governance

GOVERNANCE

Al Masaood conducts all business transactions in a proper, fair, impartial, and ethical manner, avoiding even the appearance of impropriety. We seek customers and partners who share our values and standards of conduct.

Mission:

The Compliance and Risk Management Function supports the Board to perform the role of risk oversight, framework development, policy and methodology formulation, and independent monitoring and reporting of key risk and compliance issues.

 

Al Masaood Group Compliance Program

The Al Masaood Board has approved the Company Code of Conduct (“Code”) and the Al Masaood Group Compliance Program.

Group Compliance team is responsible for ensuring that there is an effective compliance program in place across Al Masaood Group businesses.

As employees of Al Masaood Group, we are each individually responsible for complying with the Code. We are also each individually responsible for seeking advice if we need it, raising concerns, and reporting potential violations. Standing by instead of speaking up is a violation of the Code.

You can download our code of conduct policy here.

Al Masaood Code of Conduct (“Code”)

The Code sets out the minimum standard of conduct we expect from anyone working for, or on behalf of the Al Masaood Group.

The Code describes the Group’s commitment to act with integrity in everything we do. It sets out the basic rules and standards that are necessary to conduct our business in an ethical and compliant manner and in accordance with our values. It outlines the main elements of the Al Masaood Group’s Compliance Program and provides practical advice to help you understand how you should behave in certain circumstances. It explains where you can get help and support if you need it.

Code Of Conduct Policy

Gifts & Entertainment

Al Masaood Group recognises the importance of maintaining relationships with third parties but expects employees to use their judgement as to the level and frequency of gifts/ entertainment and to be aware of the relevant requirements under the Bribery and Corruption Legislations.

Al Masaood Group must comply with the relevant cross-border regulations pertaining to Bribery and Corruption. The focus of the regulations is bribery and corruption, which are both risks associated with our commercial relationships with third parties. This applies to providing gifts and entertainment to clients, customers and other third parties, as well as being in the receipt of gifts and entertainment from external parties.

Offering or receiving gifts and entertainment to/from third parties could be perceived as bribery or corruption. The more lavish the hospitality or the higher the expenditure (beyond reasonable standards), the greater the inference that it is intended to encourage or reward improper performance or to influence a third party.

Third Party Risk Management

Our business practices are based on three main pillars: long-term growth, mutual benefit, and sustainable strategic performance. This is within the framework of our firm commitment to establish sustainable partnerships with suppliers and to provide value-added products to all of our customers.

In Al Masaood Group, we believe that the continuous improvement of products, working with responsibility to protect the planet and preserving the environment, and supporting the empowerment of individuals is what enables us to manage our business successfully. This makes us a leading company working to achieve long-term value for the society of the United Arab Emirates and our partners.

Al Masaood works within a network of third parties across its operating companies. As part of our ongoing initiative to monitor those involved in our day-to-day operations, we have adopted our Supplier Code of Conduct. Our standards for conducting our business have been defined ethically and responsibly in our Supplier Code of Conduct, which is an extension of the Al Masaood Code of Conduct. It lists our standards and behaviours and general principles, which need to be adhered to by all suppliers and service providers. We hope all our current and future suppliers adhere to the business mechanism that reflects our values and our ethics, starting with being a national company responsible for carrying out daily business in an environmentally safe and ethically responsible manner.

We strive to provide efficient and ideal platforms through which our partners can express their concerns when they are suspected of violating the rules set forth in this code of conduct.

You can download our Supplier Code of Conduct policy here.

Supplier Code of Conduct Policy

Reporting Concerns

At Al Masaood, we are all equally responsible for upholding the Code of Conduct, and every employee is expected to work to the aligned set of principles outlined in the Code.

The Code of Conduct provides clear guidance on how we work with each other, our suppliers and our customers.  If you see or hear something that does not seem right, it is imperative to raise your concerns.

There are a few ways in which concerns regarding Code of Conduct breaches can be raised.

Any conversations you have with a manager, the Group Compliance Team or via the Whistleblower Website are treated with absolute confidentiality. We operate a zero-tolerance policy in respect to breaching that confidentiality.