Approved by CEO | Ver: 001 | DATE: 15.03.2021
Anti-Bribery & Anti-Corruption (ABAC) Policy
I. Objective
HIRA and its group companies is committed to adhere to the highest standards of ethical, moral and legal conduct of business operations and committed to acting professionally, fairly and with integrity in all its business dealings and relationships wherever it operates, and to implementing and enforcing effective systems to counter bribery. This includes compliance with all laws, domestic and foreign, prohibiting improper payments, favors, help, gifts or inducements of any kind to or from any person, including officials in the private or public sector, customers and suppliers. Our Company is equally committed to the prevention, deterrence and detection of bribery and other corrupt business practices.
The Company and its employees shall neither receive nor shall offer or make, participate, directly or indirectly, any illegal payments, remuneration, gifts, donations or comparable benefits which are intended to or perceived to obtain business or uncompetitive favors for the conduct of its business and shall participate in efforts to eliminate such forms of an "illicit payment", bribery, fraud and corruption under any circumstances whatsoever.
II. Forms of Bribery and Corruptions
The Company adhere a Zero tolerance towards all forms of bribery & corruption, includes but are not limited to:
- "Cash or gifts" given or received to an individual or family members or associates to unfairly influences a business outcome. The only exceptions to the above are trivial gifts with a nominal value of less than AED 100 such as a calendar, diary, chocolates, mugs etc. received in office premises. Any such gifts received must be declared to HR.
- "Travel and entertainment expenses": Unreasonable expenditure on/of third parties and/or their relatives for travel, meals, and entertainment expenses not legitimately related to tours of the Company's facilities or that may not be related to the Company's promotion of its product/services unless requested or informed by/to the management.
- "Facilitation Payment": Any payment made with the purpose of expediting or facilitating the performance by a Public Official of a routine government action and inflating the original price with an intention of keeping the margin.
- "Kickbacks": A bribe to obtain an undue advantage, where a portion of the undue advantage flows to the person who gave, or is suppose to give, the undue advantage.
- "Extortion" directly or indirectly demands or accept a bribe, facilitation payment or kickback.
- Others: Inflated commissions, fake consultancy agreements, unauthorized rebates, non-monetary favours and false political or charitable donations, offering employment to a relative of third party in order to gain unfair advantage in a present/future business dealing.
We uphold all laws relevant to countering bribery and corruption applicable to us in the conduct of our business across all the jurisdictions in which we operate including, wherever applicable, the U.S Foreign Corrupt Practices Act ("FCPA"), the UK Bribery Act ("UKBA"), Articles 234-239 of the Code. Federal Decree Law 11/08 UAE Federal Penal Code (the Code), Penal Code of 1970 and Dubai Law 37/2009 (Financial Fraud Law) and the Indian Prevention of Corruption Act, 1988 ("PCA").
III. Scope and Applicability
The policy applies to all employee working at all levels and grades (whether permanent, fixed-term or temporary), consultants, contractors, trainees, interns, workers and agency staff, agents or any other person associated with our Company. "ABAC Policy" is to ensure that our Company sets up adequate procedures in order to prevent our Company's involvement in any activity relating to bribery, facilitation payments, or corruption, even where the involvement may be unintentional. It requires employees, directors, officers of the Company and third parties subject to this ABAC Policy to:
- deny to receive or demand any act that contradicts with the guidance of the policy;
- recognize questionable transactions, behaviors or conduct;
- be alert to warning signs in relation to bribery and corruption;
- report actual or suspected violations of this ABAC Policy;
- report any evidence that an agreement or arrangement with a third party lacks business integrity;
- report any direct or indirect approach that involves any activity relating to bribery or corruption;
- co-operate with any investigation or audit activities relating to matters covered by this ABAC Policy; and
- otherwise fully comply with and follow procedures set in place to deal with such behaviour or conduct.
The guidelines in this ABAC Policy should be read in conjunction with the Whistle blower Policy.
IV. Principal and Guidelines
- Interaction with Customer/Supplier:
- Where a Designated Person is responsible for relationships with customers/supplier, he/she may entertain customers for bona-fide purposes only in accordance with our Company's Policy and records of such entertainment should be maintained.
- No amount, of money/gifts shall be accepted for favoring one customer/supplier over another, any business arrangement with customer/supplier and not related to Company Operations.
- Use of Third Parties:
- Our Company may be held responsible for bribes paid on its behalf by third parties, with severe and often irreparable consequences, even if our Company did not authorize these payments. Therefore, it is critical that we are careful in the selection of third parties who act on our behalf or with whom we deal or are otherwise associated.
- All dealings with third parties shall be carried out with the highest standards of integrity and in compliance with all relevant laws and regulations. We expect all our third parties to share our values and our ethical standards.
- You must ensure that all third parties with whom you deal are aware of the Company's policies and expectations with respect to bribery and corruption. Due diligence must be carried out on all third parties with whom business is conducted by the Company. The extent of due diligence should be proportionate to the risk associated with the relevant country and/or activity. All contracts with third parties must be in writing, on commercial terms and be reviewed by the Company's legal team.
- Government Interaction:
- If you work with government officials or a government-owned (or partially-owned) company, you have a special duty to know and comply with applicable laws and regulations, adhere to the highest standards of integrity and avoid even the appearance of impropriety.
- Designated Persons should always be truthful, accurate, co-operative and courteous while representing our Company before any government, government officials and government agencies.
V. Books, Records, And Internal Control Requirements
- Accurate and complete recordkeeping is essential to the successful operation of our Company, as well as to our ability to meet our legal and regulatory obligations. Each Designated Person has a responsibility to be accurate, complete and honest in what he/she reports and records to meet regulatory requirements, as well as in all internal and external documents of our Company, including accounting records, time cards, expense reports, invoices, payroll records, safety records, business records, performance evaluations, financial reporting etc.
VI. Reporting of Concern & Violations and raising of queries on anti-bribery and corruption
- Every person, to whom this policy applies, is encouraged to raise their concerns about any bribery issue or suspicion of malpractice or any case of corrupt practice or breach of this ABAC Policy or applicable anti-bribery or anti-corruption law (whether actual or suspected) at the earliest possible stage these must be raised with the respective reporting manager or in line with procedure mentioned in the Whistle blower policy.
- By e-mail to a dedicated confidential inbox operated by the Compliance Facilitator - [email protected]
- Our Company takes the subject of corruption and bribery very seriously. Any violation of this ABAC Policy (including a failure to report a breach, co-operate with audit, or perform adequate due diligence) will be regarded as a serious matter and shall result in disciplinary action, including termination, consistent with applicable law and the employee's terms of employment.
- Commercial partners, such as consultants and representatives, that violate this Policy may be subject to the imposition of large fines/penalties as the case may be or the immediate termination of all commercial relationship with the Company in discussion with respective Business Head.
VII. Periodic Review and Evaluation
The Board will monitor the effectiveness and review the implementation of this ABAC Policy, considering its suitability, adequacy and effectiveness and reserves the right to vary and/or amend the terms of this ABAC Policy from time to time.
Approved by CEO | Ver: 001 | DATE: 15.03.2021
