Corporate Governance


In 2016, we extended greater efforts to strengthen our various controls over operational, compliance, anti-money laundering and regulatory measures. Our Group’s Anti-Money Laundering & Combating the Financing of Terrorism policy (AML/CFT) meets the principles and requirements set out in the AML/CFT laws and regulations of the various jurisdictions where the Group operates – these are of course mandatory at local level. We also strive to comply with the international standards and best practices set by the international organisations and recommendations placed by major global correspondent banks.

Anti-bribery and corruption is addressed in the Group AML/CFT policy and the Group Code of Ethics and Conduct. A stand-alone policy relating to anti-bribery and corruption is established in Bank Audi entities if required by applicable laws or regulatory authorities.
In line with international best practices and the evolving standards of global banks, especially in the U.S., the Group will enhance and further elaborate on directives relating to anti-bribery and corruption.

During 2016, Bank Audi worked closely with the Lebanese Banking Association on drafting an ABC manual which was reviewed by Deloitte and is supposed to be distributed to banks by Q2 2017. The Central Bank’s 2012 Circular 126 stipulates that we should be fully informed of the laws and regulations governing our correspondents abroad, and deal with the latter in conformity with the laws, regulations, procedures, sanctions and restrictions adopted by international legal organisations or by the sovereign authorities in the correspondents’ home countries.
Table 6: Anti-corruption Related Training