Anti Bribery & Anti-Corruption – (ABC) POLICY – RJC COP 2024
- 1. Document Control
| Company Name | Mahavir Bullion & Refinery Private Limited | Policy No. | MBR/ABC/03 |
| Policy Title | Anti Bribery & Anti-Corruption | Revision Date | 01/04/2026 |
| Effective Date | 01/04/2025 | Review Date | 01/04/2027 |
| Approved By | Board of Directors | Approval Date | 01/04/2026 |
| Policy Owner | Compliance Officer / Senior Management | Classification | Controlled Document |
| Applicable Standard | RJC COP 2024 | Next Review | Annually |
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2. Introduction
Mahavir Bullion & Refinery Private Limited (“MBRPL” or “the Company”) is committed to conducting its business in a lawful, transparent and ethical manner. Bribery and corruption undermine ethical business conduct, distort commercial and regulatory decisions and expose the Company to financial, legal, operational and reputational risks.
This Policy establishes the Company’s framework for preventing, identifying, assessing, monitoring, escalating and responding to bribery and corruption risks. It is based on the Company’s existing Anti-Bribery & Anti-Corruption Policy and has been updated to align with RJC Code of Practices 2024, particularly COP 11 – Bribery and Facilitation Payments.
The Policy shall be read together with the Company’s Supply Chain Policy, AML/CFT Policy, KYC/Due Diligence SOP, Risk Mitigation Plan, Whistleblower Policy, Grievance Redressal Policy and other applicable controlled documents. -
3. Purpose
• Prevent the Company from being involved in bribery or corruption directly or indirectly.
• Establish clear expectations on acceptable and unacceptable conduct.
• Identify and manage bribery risks in the Company’s activities and business relationships.
• Provide controls for gifts, hospitality, third parties, reporting, investigation and sanctions.
• Protect workers and other affected persons who raise concerns in good faith or refuse to participate in bribery.
• Support compliance with RJC COP 2024 and applicable Indian laws and regulatory requirements.
• Protect the Company, employees, counterparties and stakeholders from legal, financial and reputational harm. -
4. Scope
This Policy applies to:
• All MBRPL employees, including full-time, part-time, outsourced and contractual personnel.
• Directors, senior management and department heads.
• Agents, brokers, job-workers, contractors, consultants and other third-party intermediaries.
• Security staff, logistics partners and transport agencies.
• Suppliers, aggregators, miners, scrap dealers and other business partners.
• Customers and trading partners to the extent relevant to the Company’s anti-bribery controls.
• All business activities including procurement, refining, logistics, marketing, sales, finance, licensing, documentation, regulatory interactions and third-party engagement. - 5. RJC COP 2024 Requirements Addressed
| Provision | Policy control |
|---|---|
| COP 11.1 | Prohibition of corruption and bribery; protection of workers; criteria and approval procedures for gifts. |
| COP 11.2 | Bribery-risk identification/monitoring, training, gift register, whistleblowing, investigation and sanctions. |
| COP 11.3 | Controls for facilitation payments where legally allowed, including approval, recording, monitoring and public disclosure. |
| COP 2 | Management-system implementation, communication, records, review and corrective action. |
| COP 5 | Business-partner expectations and risk-based controls for relevant third parties. |
| COP 12 | KYC/KYB and counterparty due diligence where relevant to anti-bribery risk. |
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6. Legal and Regulatory Framework
The Company shall comply with applicable Indian laws, regulations and directions relating to bribery, corruption, financial crime and corporate conduct. The framework identified by MBRPL includes:
• Prevention of Corruption Act, 1988, as applicable.
• Prevention of Money Laundering Act, 2002 (PMLA) and applicable rules, where relevant to underlying financial-crime risks.
• Applicable corporate, tax, customs, regulatory and financial-transparency requirements.
• Applicable sanctions and restrictions.
• RJC Code of Practices 2024 and related RJC guidance.
• Other applicable regulatory requirements relevant to the Company’s activities and counterparties.
Where legal requirements change, the Company shall update this Policy and related procedures. Stricter applicable legal requirements shall prevail. - 7. Anti-Bribery Governance and Responsibilities
| Role | Responsibility |
|---|---|
| Board of Directors | Approve the Policy; provide oversight and resources; review material anti-bribery issues and significant compliance findings. |
| Senior Management | Implement controls; ensure adequate resources; support risk mitigation, training and corrective action. |
| Compliance Officer | Oversee implementation; maintain/monitor relevant registers; assess allegations; coordinate investigations, escalation, reporting and audit evidence. |
| Sourcing / Procurement | Apply due diligence to relevant suppliers and intermediaries; ensure transparent documentation; identify and escalate red flags. |
| Finance | Maintain appropriate payment controls and records; use approved channels; identify unusual commissions, payment instructions or transactions. |
| Operations / Refinery / Logistics | Maintain appropriate transaction and operational records; escalate requests for improper payments or manipulation. |
| All Employees | Comply with this Policy; complete training; refuse prohibited bribery/facilitation payments; promptly report concerns. |
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8. Bribery Risk-Based Approach
MBRPL shall assess bribery risk using a documented, proportionate and risk-based methodology. Risk shall be assessed before relevant relationships or activities are established and monitored throughout the relationship. -
8.1 Counterparty / Third-Party Risk
• Ownership and beneficial ownership where relevant.
• Nature and legitimacy of business activity.
• Reputation, adverse information and prior misconduct.
• Government or public-official interaction.
• Use of agents, consultants, brokers or intermediaries.
• Unusual commission structures or unexplained fees. -
8.2 Geographic / Regulatory Risk
• Higher-risk jurisdictions or routes.
• Countries with elevated corruption risk under relevant official or reputable sources.
• Locations involving significant customs, licensing or regulatory interaction.
• Jurisdictions with weak enforcement or transparency controls. -
8.3 Business Activity Risk
• Procurement and sourcing of precious metals.
• Customs, licensing, regulatory and government interactions.
• Refining, assay, valuation or documentation activities where improper influence could create benefit.
• Use of third-party intermediaries, logistics providers or introducers.
• Marketing, sales, sponsorships, donations, gifts and hospitality. -
8.4 Transaction Risk
• Unusual discounts, commissions or fees.
• Off-book, cash or unexplained payments.
• Payments routed through unrelated parties.
• Over- or under-invoicing.
• Urgent requests to bypass normal approvals.
• Transactions inconsistent with legitimate business purpose.
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9. Definition of Bribery and Corruption
Bribery is the offering, promising, giving, requesting, agreeing to receive or accepting anything of value intended to influence a decision or secure an improper advantage.
Anything of value may include:
• Cash or cash equivalents.
• Gifts, hospitality or entertainment.
• Discounts, credit or favourable pricing.
• Free services or benefits.
• Political or charitable contributions where intended to secure an improper advantage.
• Personal favours.
• Undisclosed commissions or kickbacks.
• Over-invoicing or under-invoicing.
• Payments disguised as consultancy, facilitation or other legitimate fees.
Corruption includes abuse of entrusted authority for private or improper gain. -
10. Prohibition of Bribery and Improper Advantages
• Offering, promising, giving, requesting or accepting bribes.
• Undisclosed commissions or kickbacks.
• Payments intended to improperly influence regulators, customs, police, licensing authorities or other public officials.
• Bribes disguised as gifts, hospitality, travel, sponsorships, consultancy fees or facilitation charges.
• Manipulation of assay results, refinery output figures, invoices or records to conceal an improper payment or advantage.
• Using a third party to perform an act that the Company or its personnel could not lawfully or ethically perform themselves.
• Extortion or solicitation where the underlying conduct involves an improper advantage, subject to immediate safety considerations. -
11. Facilitation Payments
MBRPL prohibits facilitation payments as a Company policy.
Examples include unofficial payments to expedite routine government or administrative actions such as:
• Customs clearance.
• Permits or licences.
• Routine inspections.
• Utility connections or similar routine services.
If an employee is compelled to make a payment because of an immediate and credible threat to personal safety, the employee must prioritise safety, promptly report the circumstances to their Manager and Compliance Officer, and ensure the incident is documented and investigated.
Where facilitation payments are legally permitted by applicable law, the Company shall seek to eliminate them or reduce their size and frequency over time. Any permitted payment must be limited in nature and scope, approved by the responsible manager, fully recorded and accounted for, monitored and publicly disclosed where required by RJC COP 11.3. -
12. Gifts, Hospitality and Entertainment
The Company shall establish criteria and approval procedures for offering and accepting gifts and hospitality.
• Gifts or hospitality must never be used to influence a decision or secure an improper advantage.
• Cash or cash equivalents, including gift cards, are prohibited as business gifts.
• Gifts or hospitality must not be offered or accepted during tendering, supplier evaluation or contract negotiation where they could influence the process.
• Gifts or hospitality intended to improperly influence public officials are prohibited.
• Low-value, culturally appropriate gifts and modest business meals/refreshments may be permitted when lawful, reasonable and approved under Company procedures.
• Expensive gifts, travel packages, hotel stays, personal services or unrelated entertainment are prohibited unless clearly legitimate and approved under documented criteria.
• Relevant gifts received or given shall be recorded in the Gift & Hospitality Register. -
13. Third-Party Intermediaries and Supplier Controls
Third parties may include customs brokers, consultants, logistics agents, introducers, government liaison personnel, aggregators and other intermediaries.
• Establish a legitimate business justification before engagement.
• Conduct risk-based KYC/KYB and beneficial ownership checks where relevant.
• Conduct conflict-of-interest checks and sanctions/adverse-information screening where appropriate.
• Obtain background or reputation information proportionate to risk.
• Use written agreements containing appropriate anti-bribery obligations where applicable.
• Do not use a third party to circumvent this Policy.
• Suppliers and intermediaries may be suspended or terminated where a confirmed or material violation is identified. -
14. Procurement and Payment Controls
• Pricing, invoices, commissions and payment instructions shall be supported by legitimate documentation.
• Payments shall use approved channels and authorised approval workflows.
• Unusual discounts, inflated prices, unexplained commissions or unrelated third-party payments shall be escalated.
• Employees shall not bypass procurement, approval or payment controls to complete a transaction.
- 15. Red Flag Indicators
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15.1 Documentation / Transaction Red Flags
• Unusual discounts or inflated prices.
• Requests for off-the-books payments.
• Payments routed through unrelated third parties.
• Assay or refinery-output manipulation requests.
• Pressure to expedite payments without documentation. -
15.2 Behavioural Red Flags
• Supplier or intermediary unwilling to accept anti-bribery clauses.
• Attempts to bypass internal controls.
• Excessive gifts or hospitality.
• Unusual secrecy about fees, commissions or payment arrangements. -
15.3 Government Interaction Red Flags
• Requests for unofficial fees.
• Redirected or unexplained payments.
• Officials or intermediaries insisting on a particular agent without legitimate reason.
Red flags are indicators for investigation and do not automatically establish misconduct. The Company shall document the assessment and rationale for the resulting decision.
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16. Reporting, Whistleblowing and Non-Retaliation
• Employees and other affected persons may report suspected bribery through the Compliance Officer, designated internal reporting channel or confidential written complaint mechanism.
• Reporting channels shall be communicated to relevant workers and, where appropriate, other affected persons.
• The Company shall protect workers from retaliation, harassment or adverse consequences for raising concerns in good faith, refusing to participate in bribery or refusing a prohibited facilitation payment.
• Actual reporting contact details shall be inserted into the controlled policy before issue. -
17. Investigation and Escalation
1. Receive and record the allegation or concern.
2. Conduct a preliminary assessment and determine the appropriate investigation route.
3. Preserve and review relevant evidence confidentially.
4. Interview relevant persons and assess transactions, approvals, contracts and records as appropriate.
5. Escalate significant findings to Senior Management and/or the Board.
6. Implement corrective, disciplinary and contractual actions as appropriate.
7. Report to competent authorities where required by applicable law. -
18. Disciplinary Action and Sanctions
Depending on the facts, applicable law and Company procedures, sanctions may include:
• Written warning or other disciplinary action.
• Suspension, demotion or termination, as applicable.
• Suspension or termination of supplier/intermediary relationship.
• Recovery or remediation of improper benefits where lawful.
• Legal or regulatory reporting and prosecution where appropriate. -
19. Training and Awareness
• Induction anti-bribery training for relevant new employees.
• At least annual refresher training for relevant personnel.
• Role-specific training for sourcing, procurement, logistics, finance, compliance and other exposed functions.
• Training on red flags, gifts and hospitality, facilitation payments, reporting and non-retaliation.
• Training records shall be maintained in the applicable controlled training register. -
20. Record Keeping
The Company shall maintain adequate anti-bribery records in accordance with applicable law and its document-retention requirements. The existing Company practice of retaining relevant anti-bribery records for 10 years shall continue unless a longer legal or contractual requirement applies.
• Gift & Hospitality Register.
• Conflict-of-interest declarations.
• Third-party due-diligence files.
• Contracts and anti-bribery undertakings.
• Investigation and incident records.
• Training attendance and effectiveness records.
• Internal audit/review reports.
• Facilitation payment records and public disclosures, where applicable. -
21. Internal Review and Assurance
• The Company shall conduct periodic internal anti-bribery reviews to evaluate the effectiveness of risk identification, third-party controls, gifts and hospitality controls, reporting, investigations, sanctions, recordkeeping and training.
• Review findings shall be reported to Senior Management and significant findings shall be escalated to the Board.
• Corrective actions shall have responsible owners and target dates and shall be tracked to closure.
• RJC audit evidence shall be maintained and made available to the auditor as appropriate. -
22. Policy Review and Approval
This Policy shall be reviewed at least once every 12 months and additionally when there are changes in law, regulation, RJC requirements, material business activities, bribery-risk exposure, audit findings, significant incidents or material changes to the Company’s anti-bribery programme.
Changes shall be documented through the Company’s document-control process and approved by the Board or other authorised approving body. -
23. Related Controlled Documents
• AML/CFT Policy.
• Supply Chain Policy
• KYC / Due Diligence SOP.
• Risk Mitigation Plan.
• Human Rights Policy.
• Grievance Redressal Policy.
• Whistleblower Policy.
• Security Risk Assessment Policy.
• Supplier / Business Partner Code, when approved.
• Product Integrity / Claims & Disclosure Policy, when approved. - For Mahavir Bullion & Refinery Private Limited
| Prepared By | Reviewed & Approved By |
|---|---|
| Compliance Officer | Director |
| Rushikesh Rajendra Deshmukh | Jitendra Panditrao Deshmukh |
Anti-Bribery & Anti-Corruption Policy
Company Name: Mahavir Bullion & Refinery Private Limited
Policy Title: Anti-Bribery & Anti-Corruption Policy
Effective Date: 01-09-2025
Approved By: Board of Directors
Policy Title: Anti-Bribery & Anti-Corruption Policy
Effective Date: 01-09-2025
Approved By: Board of Directors
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1. Introduction
Mahavir Bullion & Refinery Private Limited (“MBRPL” or “the Company”) conducts its business with integrity, transparency, and accountability. Bribery and corruption undermine ethical business conduct, distort markets, and expose organisations to significant financial, operational, and legal risks.
This Policy establishes MBRPL’s zero-tolerance approach to bribery, corruption, facilitation payments, kickbacks, and all forms of improper advantages. It aligns with:
• RJC COP 2019 – COP 3: Bribery & Facilitation Payments
• Prevention of Corruption Act, 1988
• Prevention of Money Laundering Act (PMLA), 2002
• FATF recommendations
• OECD Anti-Bribery Convention
• Industry best practices for gold refinement & bullion trade
All directors, employees, suppliers, intermediaries, logistics partners, visitors, and any persons acting on behalf of the Company must comply with this Policy. -
2. Purpose of the Policy
The purpose of this Policy is to:
• Prevent MBRPL from being involved in bribery or corruption directly or indirectly.
• Provide clear expectations on acceptable and unacceptable conduct.
• Establish internal controls, procedures, and reporting mechanisms.
• Ensure compliance with RJC COP and relevant Indian laws.
• Protect the Company from reputational, financial, regulatory, and criminal consequences.
• Promote ethical decision-making and accountability across all operations. -
3. Scope
This Policy applies to:
• All employees of MBRPL (permanent, temporary, contractual, trainee, outsourced)
• Directors, senior management, and department heads
• Agents, brokers, job-workers & contractors
• Security staff, logistics partners, transport agencies
• Third-party intermediaries & consultants
• Suppliers, aggregators, miners, and scrap dealers
• Customers and trading partners
This Policy applies to all business activities, including procurement, refining, logistics, marketing, sales, finance, licensing, documentation, regulatory interactions, and third-party engagement. -
4. Definition of Bribery & Corruption
Bribery is the offering, promising, giving, requesting, agreeing to receive, or accepting anything of value intended to:
• Influence a decision
• Secure an improper advantage
• Obtain or retain business
• Manipulate a regulatory, financial, or commercial outcome
Bribes may include:
• Cash or cash equivalents
• Gifts, hospitality, entertainment
• Discounts, credit, or favourable pricing
• Free services or benefits
• Political contributions
• Personal favours
• Undisclosed commissions or kickbacks
• Over-invoicing or under-invoicing
• Payments disguised as “consultancy fees” or “facilitation charges”
Corruption includes abuse of entrusted authority for private gain. -
5. Policy Statement - Zero Tolerance (COP 3.1)
MBRPL strictly prohibits:
• Offering, paying, or accepting bribes
• Extortion or solicitation
• Undisclosed commissions or kickbacks
• “Speed money” or facilitation payments
• Payments to influence regulators, customs, DGFT, police, BIS, or any public authority
• Manipulating assay results or refinery output figures
• Over/under invoicing to conceal illegal payments
• Bribes disguised as gifts, hospitality, travel, sponsorships
• Engaging intermediaries to perform bribery on behalf of the Company
Violations will result in disciplinary action, termination, and legal reporting. -
6. Prohibition of Facilitation Payment (COP 3.2)
Facilitation payments are small payments made to secure or expedite routine government actions such as:
• Clearing goods at Customs
• Obtaining permits or licenses
• Routine inspections
• Utility connections
MBRPL prohibits all facilitation payments, regardless of local customs or expectations. Exception — Life or Safety Risk
If an employee is compelled to make a payment under threat to personal safety:
• The employee must immediately report the incident to their Manager and Compliance Officer.
• The incident must be documented and investigated. -
7. Gifts, Hospitality & Entertainment
Gifts or hospitality must never be given or accepted:
• To influence a business decision
• During tendering, supplier evaluation, or contract negotiation
• From or to government officials
• If they involve cash or gift cards
Permitted (with restrictions):
• Low-value, culturally appropriate gifts (e.g., sweets during festivals)
• Modest business meals or light refreshments
• Branded company merchandise
Prohibited:
• Expensive gifts
• Travel packages or hotel stays
• Entertainment or events unrelated to business
• Personal services
All gifts received must be declared in the Gift Register maintained by the Compliance Department. -
8. Roles & Responsibilities (COP 36–41)
8.1 Board of Directors
• Oversees the integrity and effectiveness of anti-bribery controls.
• Approves this Policy and reviews annual compliance reports.
8.2 Senior Management
• Implements systems to prevent bribery and corruption.
• Ensures adequate resources and training.
8.3 Compliance Officer
• Oversees adherence to this Policy.
• Conducts investigations into bribery allegations.
• Maintains registers for gifts, hospitality, and conflict of interest.
8.4 All Employees
• Must not engage in or tolerate bribery.
• Must report suspected violations immediately. -
9. Third-Party Intermediaries (COP 3.3)
Third parties may include:
• Customs brokers
• Consultants
• Logistics agents
• Introducers
• Gold aggregators
• Government liaison personnel
MBRPL conducts Enhanced Due Diligence on third parties, including:
• Business justification
• Beneficial ownership verification
• Conflict of interest checks
• Sanctions/adverse media screening
• Background verification
No third party may be engaged without a written agreement containing anti-bribery clauses. -
10. Procurement & Supplier Controls (COP 7 & 28–30)
Suppliers must:
• Provide complete KYC/KYB documentation
• Sign Responsible Sourcing Declarations
• Agree to audits and assessments
• Maintain transparent pricing and invoicing
• Not engage in bribery, manipulation, forged documentation, or illegal mining
The Company may terminate a supplier relationship if any violation is identified. -
11. Red Flags (COP 3.4 & OECD ANNEX II)
Examples include:
11.1 Transaction Red Flags
• Unusual discounts or inflated prices
• Requests for off-the-books payments
• Payments routed through unrelated third parties
• Assay manipulation requests
• Pressure to expedite payments without documentation
11.2 Behavioural Red Flags
• Supplier unwilling to sign anti-bribery clauses
• Attempts to bypass internal controls
• Excessive hospitality or gifts offered
11.3 Government Interaction Red Flags
• Requests to pay unofficial “fees”
• Redirected payments
• Officials insisting on using a specific agent
Any red flag requires immediate escalation. -
12. Reporting & Whistleblowing (COP 41)
Employees may report concerns through:
• Compliance Officer
• Internal email (designated)
• Confidential written complaint
Whistleblowers are protected against retaliation, harassment, or adverse employment consequences. -
13. INVESTIGATION PROCEDURE
When a bribery allegation is reported:
• Compliance Officer conducts preliminary assessment.
• If credible, a formal investigation is initiated.
• Evidence is collected confidentially.
• Relevant employees or suppliers may be suspended during investigation.
• Findings are reviewed by Senior Management.
• Corrective and disciplinary actions are implemented.
If necessary, matters may be reported to statutory authorities. -
14. Disciplinary Action
May include:
• Written warning
• Suspension
• Demotion
• Termination
• Supplier blacklisting
• Legal prosecution under PMLA or Prevention of Corruption Act -
15. Training & Awareness (COP 38)
Training includes:
• Annual mandatory anti-bribery training
• Role-specific sessions for procurement, logistics, and compliance teams
• Case studies of real bribery scenarios
• Monitoring of training effectiveness
New employees receive induction training on this Policy. -
16. DOCUMENTATION & RECORD KEEPING (COP 40)
Records maintained for 10 years:
• Gifts & hospitality registers
• Conflict of interest declarations
• Supplier due diligence files
• Investigation reports
• Training attendance logs
• Audit reports
• Contractual agreements -
17. AUDIT & REVIEW (COP 39–41)
Internal audits evaluate:
• Effectiveness of anti-bribery controls
• Adequacy of documentation
• Compliance with RJC COP and Indian regulations
• Corrective action implementation
Findings are reported to Senior Management and the Board.
This Policy is upon:
• RJC COP updates
• Regulatory changes
• New operational risks
• Any findings
PURPOSE
The Anti-Bribery Policy (“Policy”) emphasizes Mahavir Bullion & Refinery Private Limited’s (hereinafter referred to as “MBR/Company”) zero-tolerance approach to bribery and corruption. It establishes the principles with respect to applicable anti-bribery and anti-corruption laws. The policy provides information and guidance on how to recognise and deal with bribery and corruption issues. It guides us to act professionally, fairly and with utmost integrity in all our business dealings and relationships, wherever we operate.
POLICY STATEMENT
Bribery is the offering, promising, giving, accepting or soliciting of an advantage as an inducement for action which is illegal or a breach of trust. A bribe is an inducement or reward offered, promised or provided in order to gain any commercial, contractual, regulatory or personal advantage.
It is our policy to conduct our business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption. We are committed to acting professionally, fairly and with integrity in all our business dealings and relationships wherever we operate and implementing and enforcing effective systems to counter bribery. We will uphold all laws relevant to countering bribery and corruption in all jurisdictions in which we operate.
It is our policy to conduct our business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption. We are committed to acting professionally, fairly and with integrity in all our business dealings and relationships wherever we operate and implementing and enforcing effective systems to counter bribery. We will uphold all laws relevant to countering bribery and corruption in all jurisdictions in which we operate.
SCOPE
The principles set forth in this policy are applicable to all directors, officers, employees, consultants, contractors, associates and business partners of the company. It is, therefore, the responsibility of all to follow and adhere to all elements described in the policy. In countries where there are more stringent applicable laws, regulations or industry codes, MBR requires compliance with the most restrictive requirement, and the principles set out in this policy shall be superseded in those specific countries.
ANTI-BRIBERY AND CORRUPTION STANDARDS
It is prohibited for the company or its directors, officers, employees, consultants, business partners or contractors to:
a) Give, promise to give, or offer a payment, gift or hospitality to a third party or otherwise engage in or permit a bribery offence to occur, with the expectation or hope that an advantage in business will be received, or to reward a business advantage already given.
b) Give, promise to give, or offer a payment, gift, or hospitality to a third party to "facilitate" or expedite a routine procedure.
c) Accept a payment, gift or hospitality from a third party if you know or suspect that it is offered or provided with an expectation that a business advantage will be provided by the company in return.
d) Threaten or retaliate against another employee or worker who has refused to commit a bribery offence or who has raised concerns under this Policy or the company’s whistleblower policy.
e) Engage in any activity that might lead to a breach of this Policy.
a) Give, promise to give, or offer a payment, gift or hospitality to a third party or otherwise engage in or permit a bribery offence to occur, with the expectation or hope that an advantage in business will be received, or to reward a business advantage already given.
b) Give, promise to give, or offer a payment, gift, or hospitality to a third party to "facilitate" or expedite a routine procedure.
c) Accept a payment, gift or hospitality from a third party if you know or suspect that it is offered or provided with an expectation that a business advantage will be provided by the company in return.
d) Threaten or retaliate against another employee or worker who has refused to commit a bribery offence or who has raised concerns under this Policy or the company’s whistleblower policy.
e) Engage in any activity that might lead to a breach of this Policy.
GIFTS, HOSPITALITY AND ENTERTAINMENT
a) MBR acknowledges that exchange of nominal gifts and sharing of entertainment is customary in many parts of the world during national, cultural and religious occasions.
b) The giving or receipt of gifts by Associates is not prohibited, if following requirements are met:
- No quid pro quo – There must always be a legitimate business purpose to support gifts related expenses. Customary gifts, meals, entertainment, travel or lodging may never be given or received in return for a favour/ favourable treatment or to refrain from doing something disadvantaging Company.
- It complies with all applicable Anti-bribery and Anti-corruption laws;
- It does not include cash or a cash equivalent (such as gift certificates or vouchers);
- Considering, the reason and nature of the gift, it is of an appropriate type and value and given at an appropriate time;
- It is given openly, not secretly.
c) MBR appreciate that the practice of giving business gifts varies between countries and regions and what may be normal and acceptable in one region may not be in another. The test to be applied is whether in all the circumstances the gift or hospitality is reasonable and justifiable. The intention behind the gift should always be considered.
b) The giving or receipt of gifts by Associates is not prohibited, if following requirements are met:
- No quid pro quo – There must always be a legitimate business purpose to support gifts related expenses. Customary gifts, meals, entertainment, travel or lodging may never be given or received in return for a favour/ favourable treatment or to refrain from doing something disadvantaging Company.
- It complies with all applicable Anti-bribery and Anti-corruption laws;
- It does not include cash or a cash equivalent (such as gift certificates or vouchers);
- Considering, the reason and nature of the gift, it is of an appropriate type and value and given at an appropriate time;
- It is given openly, not secretly.
c) MBR appreciate that the practice of giving business gifts varies between countries and regions and what may be normal and acceptable in one region may not be in another. The test to be applied is whether in all the circumstances the gift or hospitality is reasonable and justifiable. The intention behind the gift should always be considered.
FACILITATION PAYMENTS AND KICKBACKS
Facilitation payments are a form of bribery made for the purpose of expediting or facilitating the performance of a public official for a routine governmental action and not to obtain or retain business or any improper business advantage. Facilitation payments tend to be demanded by low-level officials to obtain a level of service that one would normally be entitled to.
MBR’s strict policy is that facilitation payments must not be paid. MBR recognizes, however, that its employees may be faced with situations where there is a risk to the personal security of an employee or his/her family and where a facilitation payment is unavoidable, in which case the following steps must be taken:
- Keep any amount to the minimum;
- Create a record concerning the payment; and
- Report it to your manager.
In order to achieve our aim of not making any facilitation payments, each business of the company will keep a record of all payments made, which must be reported to the management in order to evaluate the business risk and to develop a strategy to minimize such payments in the future.
MBR’s strict policy is that facilitation payments must not be paid. MBR recognizes, however, that its employees may be faced with situations where there is a risk to the personal security of an employee or his/her family and where a facilitation payment is unavoidable, in which case the following steps must be taken:
- Keep any amount to the minimum;
- Create a record concerning the payment; and
- Report it to your manager.
In order to achieve our aim of not making any facilitation payments, each business of the company will keep a record of all payments made, which must be reported to the management in order to evaluate the business risk and to develop a strategy to minimize such payments in the future.
POLITICAL CONTRIBUTIONS
MBR do not make donations, whether in cash or kind, in support of any political parties or candidates, as this can be perceived as an attempt to gain an improper business advantage.
CHARITABLE CONTRIBUTIONS
Charitable support and donations are acceptable (and indeed are encouraged), whether of in- kind services, knowledge, time, or direct financial contributions. However, employees must be careful to ensure that charitable contributions are not used as a scheme to conceal bribery. MBR only does charitable donations that are legal and ethical under local laws and practices. No donation must be offered or made without the prior approval of the Management.
RECORD-KEEPING
MBR maintains financial records and has appropriate internal controls in place, which will evidence the business reason for making payments to third parties. MBR maintains a written record of all hospitality or gifts accepted or offered, which will be subject to managerial review. All expense claims relating to hospitality, gifts, or expenses incurred to third parties are submitted in accordance with the company’s expenses policy and specifically record the reason for the expenditure. All accounts, invoices, memoranda, and other documents and records relating to dealings with third parties, such as clients, suppliers, and business contacts, should be prepared and maintained with strict accuracy and completeness. MBR ensures that no accounts are kept "off-book" to facilitate or conceal improper payments.
RAISING A CONCERN AND PROTECTION
a) All MBR associates are encouraged to raise concerns about any issue or suspicion of malpractice at the earliest possible stage. If they are unsure whether a particular act constitutes bribery or corruption, or if they have any other queries, these should be raised with the manager.
b) An associate who refuses to accept or offer a bribe, or those who raise concerns or report another's wrongdoing, are sometimes worried about possible repercussions. MBR aims to encourage openness and will support anyone who raises genuine concerns in good faith under this policy, even if they turn out to be mistaken.
c) MBR will ensure that no one will suffer any detrimental treatment as a result of refusing to take part in bribery or corruption, or because of reporting in good faith their suspicion that an actual or potential bribery or other corruption offence has taken place, or may take place in the future. Detrimental treatment includes dismissal, disciplinary action, threats or other unfavourable treatment connected with raising a concern.
b) An associate who refuses to accept or offer a bribe, or those who raise concerns or report another's wrongdoing, are sometimes worried about possible repercussions. MBR aims to encourage openness and will support anyone who raises genuine concerns in good faith under this policy, even if they turn out to be mistaken.
c) MBR will ensure that no one will suffer any detrimental treatment as a result of refusing to take part in bribery or corruption, or because of reporting in good faith their suspicion that an actual or potential bribery or other corruption offence has taken place, or may take place in the future. Detrimental treatment includes dismissal, disciplinary action, threats or other unfavourable treatment connected with raising a concern.
TRAINING AND COMMUNICATION
Training on this policy forms part of the induction process for all new employees. All existing employees will receive regular, relevant training on how to implement and adhere to this policy. In addition, all employees will be asked to formally accept conformance to this policy on an annual basis. Our zero-tolerance approach to bribery and corruption must be communicated to all suppliers, customers, contractors and business partners at the outset of our business relationship with them and as appropriate thereafter.
MONITORING AND REVIEW
The Board of Directors shall monitor the effectiveness and review the implementation of this policy, regularly considering its suitability, adequacy and effectiveness. Any improvements identified will be made as soon as possible. Internal control systems and procedures will be subject to regular audits to provide assurance that they are effective in countering bribery and corruption. All employees are responsible for the success of this policy and should ensure they use it to disclose any suspected danger or wrongdoing. Employees are invited to comment on this policy and suggest ways in which it might be improved. Comments, suggestions and queries should be addressed to the Board of Directors. This policy does not form part of any employee's contract of employment and it may be amended at any time.