How we operate

• Project cycle
• Strategies
• Policies
• Procurement
• Internal audit
• Evaluation
• Environmental and social sustainability overview
• Prevention and combat of financial crime and prohibited practices

Prevention and combat of financial crime and prohibited practices

The Bank is committed to the prevention and combat of: (a) money laundering, (b) terrorist-financing and (c) prohibited practices, such as fraudulent, corrupt, coercive, collusive and obstructive practices. The definitions of the above can be found in Anti-Fraud, Corruption, Money Laundering and Terrorism Financing, and Domiciliation of BSTDB Counterparties Policy

In this framework, the Bank is committed to ensuring that the above risks are reduced to the lowest possible levels, both internally and in its dealings with external parties. Through focused due diligence on individual counterparties, the Bank can be a force for positive influence at the systemic level and, at the same time, avoid exposure to unnecessary risks in individual operations. This approach could enable the Bank to play a role in the international and regional effort against money laundering and terrorism financing.

Furthermore, the Bank also expects all its officials and staff to observe the highest standards of ethics and to provide the Bank with any help, information and support in this respect. The related detailed obligations of the Bank’s officials and staff may be found in Code of Conduct

The Bank’s Compliance and Operational Risk Management Office (DCR), which is a unit independent of the business activities of the Bank, reporting to the President of the Bank and the Board of Directors, through its Chairman, is responsible, inter alia, for: (a) the drafting and review of the related rules, (b) the relevant training of staff, (c) ensuring compliance with the related rules and (d) the investigation of related incidents.