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The Board of Directors of Maybank are committed towards achieving excellence in corporate governance and
acknowledge that the prime responsibility for good corporate governance lies with the Board. The Board is led by a
Non-Independent Non-Executive Chairman. A fundamental part of the Boards duty is to create, protect and enhance
stakeholder value whilst ensuring the highest standards of ethics, integrity and professionalism. For this purpose, the
Board ensures that the right executive leadership, strategy and internal risk controls are in place.
The governance framework adopted is based, amongst others, on the Malaysian Code on Corporate Governance
2012. The Code sets out principles and best practices on structures and processes that companies may apply in their
operations towards achieving an optimal governance framework. The Board supports the Code and believes that good
corporate governance is fundamental in achieving the Group’s objectives. As a financial services provider, we are also
guided by Bank Negara Malaysia Guidelines on Corporate Governance for Licensed Institutions, the Main Market
Listing Requirements of Bursa Malaysia Securities Berhad as well as international best practices. Wherever the Group
operates, it abides by the guidelines of the relevant regulators and authorities including relevant central banks and
securities exchanges.
Positive Compliance
As custodians of public funds, we place great value on a positive compliance culture. We expect our employees to
conduct themselves responsibly, honestly and with integrity. Our code of ethics describes the values and minimum
standards for ethical business conduct and govern all of our interactions, whether with clients, competitors, business
partners, government and regulatory authorities, shareholders or each other. They also form the cornerstone of our
policies, which provide detailed guidance on how employees should act to ensure compliance with applicable laws and
regulations. As a regional entity, the code also draws out impartial and unbiased relationships across our entities by
building a culture of respect.
Our code of ethics is not a static document. It is a fundamental principle upon which all staff are guided. As the Code
upholds our values and public confidence, we ensure that all employees are familiar and able to understand the Code
right from induction. The Code is in line with our Core Values which emphasises on ethics when dealing with others.
100% of employees who are Assistant Managers and above attended compulsory code of conduct briefings in 2013.
Through our Corporate Integrity Pledge 2012, we have undertaken several measures to foster the culture of an ethical
workplace. We provide clear guidelines on gifts and policies, as well as an established Group-wide whistle-blowing
mechanism.
We have processes in place to adhere to local and international anti-corruption and anti-bribery laws. This includes the
Group’s strict prohibition against receiving, accepting, offering, paying, or authorising any bribe and any other form
of corruption. A comprehensive whistle blowing policy has been in place. In 2012, we consolidated the policy with our
Integrity Pledge. Through our ‘Integrity Hotline’, all employees have multichannel options to raise concerns, misconduct
or wrongdoing. Anti-fraud rules are emphasised with a focus on:
• Obligation to report
• Mindfulness
• Compliance with controls and procedures
• Securing of work area
• Password confidentiality
Anti-Money Laundering and Counter Terrorism Financing
The customer due diligence system enables us to screen all customers and establish the chain of movement during
on-boarding. Our system allows for notification to Bank Negara Malaysia and all regional regulators in a timely manner.
We have embedded compliance officers at all local, overseas and subsidiary units while Group Compliance as a whole
is tasked with ensuring the Group complies with all applicable laws, rules, regulations and regulatory guidelines. We
have in place robust processes for prevention and detection of money laundering and terror activities. We follow high
standards of Anti-Money Laundering (AMLA)/Counter Terrorism Financing (CFT) practices. In 2013, we revised the
policy to incorporate the refined requirements of Bank Negara Malaysia as well as the requirements of the Financial
Action Task Force.
Competition
The Group Antitrust Steering Committee is chaired by the President and CEO to oversee the implementation of our
commitment to adhere to fair and equitable competition. The committee provides oversight of any unfair competitive
behaviour. We have developed an internal guide to the Competition Act 2010 to assist employees in ensuring that
business operations and conduct does not breach the law. In 2012, we undertook to form a Joint Secretariat to the
Maybank Group Antitrust Steering Committee. The Secretariat was tasked with developing a guide to the Competition
Act 2010. This guide has been endorsed by the Board and disseminated through internal an e-portal in 2013.
CorporateGovernance
Corporate
Governance is
not merely about
complying with laws
and regulation. It is
about understanding
the building blocks
that support that
organisation.
Good governance
is reflected in the
transparency and
accountability
mechanisms that are
in place.
we see sustainabilitydifferently
G4-34, G4-56
11 Directors from
Across Asia
compulsory
code of conduct briefing
Board
Charter
100%
of employees who are
assistant managers
and above attended
compulsory code of
conduct briefings
Target: As a financial services institution,
we aim to ensure that employees adhere
to the highest standard of ethics and
integrity.
