BAKU, Azerbaijan, August 4. The Management Board of the Central Bank of Azerbaijan (CBA) has adopted the "Code of Ethics and Professional Conduct in the Financial Sector".
According to the CBA, the code was developed within the framework of the "Strategy for the development of the financial sector for 2024–2026" to increase professionalism in the financial sector and unify ethical standards.
The CBA noted that the code creates a reliable reference source for compliance with ethical principles by forming a single behavioral framework for all professionals working in the financial sector. It was noted that the document plays the role of institutional support for the improvement of existing internal codes by supervised entities, as well as the creation of new internal codes.
"The document reflects 8 ethical principles, 6 rules of professional conduct, and a mechanism for ensuring their implementation. The Code defines the standards of behavior of professionals towards clients, the financial sector and institutions, other professionals, legislation, society, and the environment, and strengthens the concept of multifaceted professional responsibility.
This initiative serves to form uniform ethical and professional standards of conduct in the financial sector, to maintain a fertile and sustainable environment for the development of professionals, to ensure the sustainable development and stability of the financial sector, as well as to increase consumer confidence in the financial sector," the bank pointed out.
Further details on the Code can be found through the link:
https://uploads.cbar.az/assets/0692a776092ea3c7fd56e945a.pdf
