FAB Group is committed to conducting the business in accordance with the highest ethical standards and in full compliance with all applicable anti-bribery and corruption laws and regulations including but not limited to; Foreign Corrupt Practices Act (FCPA), UK Bribery Act, UAE laws and other applicable local country laws / regulations where FAB operates.
FAB Group AB&C Policy applies to all activities and operations across the Group, irrespective of their jurisdictions, businesses and operations including second- and third-party employees and is binding for all Group branches, affiliates and subsidiaries except where the provisions of the Policy differ due to the local regulatory requirements (the more stricter requirements will take precedence).
FAB Group has zero-tolerance towards bribery and corruption and prohibits them in any form, both directly and indirectly.
Group AB&C Program
Key components of FAB Group AB&C Program include:
- Oversight, governance and escalation
- Risk assessment process Communication and training
- Review and pre-approval processes
- Due diligence on third party relationships
- Confidential reporting, financial controls and record-keeping
- Independent testing processes
FAB’s AB&C Program also encompasses the following overarching key principles:
Gifts, Hospitality and Facilitation Payments
FAB strictly prohibits any form of bribery (payment, offer or promise to pay or provide anything of value), gifts and hospitality, facilitation payments and payments to government to secure or expedite the performance of a routine action or otherwise induce public officials or third parties to perform routine functions they are otherwise obliged to perform in order to secure an improper advantage.
It is strictly prohibited to interact with a public official, including their representatives or agents, with the intention of influencing actions taken within their official function or securing any such improper advantages.
Employment opportunities, whether permanent or temporary in nature, and internships (whether paid or unpaid) must be merit-based, fair and in line with the hiring standards applied for all employees, and must not be used as an inducement to anyone to act improperly for obtaining or retaining an advantage in business.
Associated Persons and Third Parties
Associated persons and third parties engaged to represent FAB’s interests must comply with the principles set out in the FAB Group AB&C Policy. FAB mandates appropriate level of due diligence on all such associated persons and third parties, and the application of suitable contractual terms and governance to reduce bribery and corruption risks.