A code of ethics is a set of principles guiding members of an organization and other interested persons in making ethical choices in the conduct of their work. The Code of Ethics manual contains approved provisions relating to the enforcement of the Code of Ethics. The essential purpose of a code of ethics is to assure sustainability of the existing reputation and reliability of the organization in the public and to enhance and maintain such reputation and reliability feelings of customers, employees, and all stakeholders.
The Board of Directors of the organization must have laid down a code of conduct for the Board, Management, and employees. The laid down codes should mainly empathize to promote the following;
• Adherence to the highest standards of honest and ethical conduct in the course of all their operations;
• Not to discriminate among their employees and customers, and abstain from any discrimination of ethnical origin, religion, financial and social status, or sex in the provision of their services;
• Inform the customers candidly about their rights and obligations, and benefits and risks regarding the products and services offered to them;
• Deliver clear, understandable, and accurate information to their customers within the frame of mutual trust in all their services and operations, and perform their customer services timely and completely
• Taking all reasonable measures to protect the confidentiality of non-public information relating to the organization and its clients
• Full, fair, accurate, timely, and understandable disclosure of financial information reports required to be filed by the organization with government and regulatory agencies and do not knowingly make false financial or nonfinancial statements;
• Strict Compliance with applicable laws, rules, and regulations;
• Prompt internal reporting of violations of laid down Code;
• Accountability for adherence to the Code.
Generally, the obligations outlined in the code of ethics manual’ are in addition to and do not replace ‘Employees’ Obligation to an organization and other compulsions‘ which includes duties and responsibilities of the Chairman and Managing Director, Executive Directors, General Managers, and all officers and employees of the organization.
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