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code of conduct

In accordance with the Company’s commitment to the highest standards of ethics and the Al Ghazzawi Group of Companies Code of Conduct, the Company’s Board of Directors and Executive Board have approved and instituted the following anti-corruption compliance principles:

Ethics and the Law.
Al Ghazzawi Group of Companies employees shall conduct themselves in accordance with the Company’s commitment to the highest standards of ethical conduct and to ensure full compliance with the Al Ghazzawi Group of Companies Code of Conduct, the Anti-Corruption Compliance Employee Handbook,  and  all  applicable  national  and international anti-corruption laws.

Conflicts of Interest.
Al Ghazzawi Group of Companies employees shall  avoid  any  activity that  leads  to  a conflict of interest or an appearance of impropriety, including but not limited to the acceptance or giving of personal gifts or hospitality to  or  from  Al Ghazzawi Group of Companies stakeholders other than gifts of nominal value (i.e., less than SR 500) or reasonable hospitality given in the ordinary course of business.

 

Bribes.
Al Ghazzawi Group of Companies employees  shall not, in order to obtain or retain business, offer, authorize, or pay bribes or provide anything of value , other than gifts of nominal value under any circumstances, including directly or indirectly to customers, suppliers, government officials or candidates, or other parties. Travel compensation is prohibited.

 

No facilitation payments.
Al Ghazzawi Group of Companies employees shall not, in order to expedite business or government procedures and/or processes, make any facilitation payments, in cash or kind, to government officials, whether directly or indirectly via third parties. They must ensure that all third parties acting for the Company are aware of this policy and do not make any improper payments whatsoever on its behalf.

Appropriate Internal Controls and Accurate Books and Records.
Al Ghazzawi Group of Companies employees shall ensure that the Company make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company. Employees shall be responsible for executing the internal controls as defined in the Internal Controls Framework and related   financial   cycles   and   for   reporting   any significant deviations in these controls.

Anti-Corruption Compliance Employee Handbook.
Al Ghazzawi Group of Companies employees shall read and comply with the Al Ghazzawi Group of Companies Anti- Corruption Compliance Employee Handbook.

Anti-Corruption Compliance Training.
All Ghazzawi Group of Companies employees who deal with customers, third parties and/or government officials shall  complete  the  Anti-corruption  Compliance Training (ACT) online or similar classroom-based training.

Reporting Violations.
Al Ghazzawi Group of Companies employees are obliged to report to the Al Ghazzawi Group of Companies Chief Compliance Officer directly any suspected or actual violation of the Al Ghazzawi Group of Companies Anti-Corruption Compliance Principles, or of any anti-corruption laws. These include, but are not limited to, acts leading to conflicts of interest, or prohibited   or   suspicious   payments   or   offers   of payment to customers, suppliers, government officials, or political parties. Al Ghazzawi Group of Companies will ensure that there will be no adverse work-related consequences for any employee who in good faith alerts management to possible violations of these Principles.

Compliance Office Assistance. Al Ghazzawi Group of Companies stakeholders shall seek clarification from the Al Ghazzawi Group of Companies Chief Compliance Officer at ethics@ghazzawigroup.com regarding any questions or concerns relating to the application or meaning of any provisions of the Al Ghazzawi Group of Companies Anti- Corruption Compliance Principles, Employee Handbook,   or   any   other   anti-corruption   related matters.

Ethics and Compliance Reporting:

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Any concern you report will be handled confidentially and your identity will be only shared within a restricted group of people responsible for handling your concern. Al Ghazzawi Group of Companies will ensure that there will be no adverse work-related consequences as a result of any employee’s good faith reporting of violations of our Code of Conduct and related policies.
All reports regarding potential violations of the Code of Conduct and related policies will receive a fair and comprehensive investigation as appropriate.

Al Ghazzawi Group of Companies handles your name and other personal data in accordance with its Privacy Policy. For questions concerning the processing of your personal data and information please get in touch with us via E-mail ethics@ghazzawigroup.com.

Through this website, you may ask general questions relating to our Code of Conduct from the Al Ghazzawi Group of Companies Ethics and Compliance office.

You may also report any concerns regarding, or any allegations of, potential violations of Al Ghazzawi Group of Companies Code of Conduct, including any potential violation of our zero tolerance approach on bribery and corruption. It is strongly recommended that, whenever possible, Al Ghazzawi Group of Companies employees raise any concerns directly with their line manager first.
Anonymous reporting is acceptable, although we encourage you to identify yourself to facilitate any investigation of the matter.


 
     
     
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