Business Ethics

The Bank has the Code of Business Ethics in place, which was developed in accordance with the legislative provisions of the Republic of Kazakhstan, the Articles and internal documents of the Bank, the Code of Business Ethics of Baiterek NMH JSC, taking into account recognized global standards of business conduct and corporate governance, and is a set of rules that establish fundamental values and principles of corporate (business) ethics and which are followed by the Bank’s employees.

The Code applies to the members of the Board of Directors of the Bank and to all employees of the Bank regardless of their position and is applied on a par with other internal documents of the Bank. Employees are guided by the requirements of the Code in their relations with the Sole Shareholder, members of the Board of Directors, the Management Board, colleagues, customers, partners and suppliers.

Ethical Principles.

1. The Bank provides equal opportunities and under no circumstances discriminates on the basis of gender, age, race, political, religious or other similar grounds.
2. Recruitment and promotion of personnel is based solely on professional knowledge, experience and competences in accordance with the Bank’s internal documents, excluding any manifestations of discrimination. Career promotion is based on objective evaluation of performance, qualifications and competences.
3. All employees are provided with equal development opportunities based on their performance, competence, and qualifications. In turn, the Bank expects all team members to take initiative, strive to acquire new knowledge and be ready to share this knowledge with colleagues.
4. It is not allowed to grant any privileges and benefits to individual employees/officers of the Bank.
5. With regard to establishing a fair remuneration, the Bank is based on the recognition of work results and achievement of key performance indicators, level of qualifications and competences, complexity and quality of work performed.

The Bank has an Ombudsman institution in place to collect information on violations of the Code of Business Ethics. This includes providing consultations to employees on the provisions of the Code, initiating the review of disputes concerning breaches of the Code, and participating in their resolution.

In 2024, as part of the implementation of the Diversity and Inclusion Action Plan at Otbasy Bank JSC, an online meeting was organized for employees with Dina Akrachkova, the Bank’s Ombudsman, via the ZOOM platform. During the meeting, employees had the opportunity to get acquainted with the Ombudsman, discuss issues within her remit, learn about the procedure for interaction with the Ombudsman, and review the key aspects of the Code of Business Ethics.