Banks Announce No Gift Policy to Establish Standards and Eliminate Bribery Channels

The year-end festival is approaching, and one familiar image for everyone is that of large gifts everyone desires to receive.

However, as awareness of environmental and governance issues broadens, one reflection of this progress is the adoption of a No Gift Policy by major organizations.

This promotes sustainability within the ESG framework, especially focusing on Governance and Environment.

Over the past several years, the Bank of Thailand, as the main financial regulatory authority, has issued announcements.A policy prohibiting the acceptance of any gifts or presents related to official duties (No Gift Policy).

The Bank of Thailand declared its intent that all executives and staff will not accept any gifts that might influence decision-making or lead to corruption and misconduct, now or in the future, to ensure the Bank remains a trusted and transparent institution.

This has set a standard for commercial banks to collectively prevent corruption and uphold good governance principles.

Krungthai Bank (KTB)

Adheres strictly to the No Gift Policy on all occasions to build an ethical organization intolerant of all forms of corruption and encourages conveying goodwill through electronic media.

TMBThanachart Bank (ttb)

Has established a policy to decline all gifts during New Year and every festival, focusing on conducting business fairly, transparently, and sustainably.

Krungsri Bank (Krungsri)

Krungsri commits to honest and transparent business practices and complies with the No Gift Policy on all occasions and festivals, consistent with its core values and good governance.

Siam Commercial Bank (SCB)

Has implemented the No Gift Policy to provide clear guidelines for all directors and employees, strictly prohibiting acceptance or offering of gifts or hospitality that could lead to corruption.

Kasikornbank (KBank)

Maintains clear guidelines forbidding employees from accepting gifts from external legal entities or business partners to prevent inducement, bribery, and conflicts of interest.

Additionally, its asset management affiliate (KAsset) also enforces a No Gift Policy to promote good governance.

Kiatnakin Phatra Financial Group (KKP)

Adheres to providing services based on good governance, conducting business honestly, and rejecting all illegal or unethical acts by declaring its No Gift Policy as part of internal transparency measures and continuing a firm stance against all forms of corruption, including abstaining from giving or receiving gifts and bribery during all festivals.

Bangkok Bank (BBL)

Implements conflict of interest management covering gift exchanges, hospitality, and other benefits, with an anti-corruption policy prohibiting directors, executives, and employees from engaging in any form of corruption or bribery.

United Overseas Bank (UOB)

Operates under the UOB Group Code of Conduct with strict guidelines and a zero-tolerance approach to bribery and corruption, which includes prohibiting acceptance of gifts that could lead to inappropriate behavior.

Government Savings Bank (GSB)

Announced a culture of "no giving and no receiving of gifts or presents of any kind," with the commitment that all executives and staff will not accept any gifts related to their duties before, during, or after their tenure, to prevent corruption and misconduct now and in the future.

Government Housing Bank (GHB)

The No Gift Policy culture is a measure promoting integrity and transparency and supports the analysis of Integrity and Transparency Assessment (ITA) results of the bank's operations.

This policy is not merely symbolic but has become a key mechanism that produces tangible positive social impacts.

1. Building trust and good governance

The No Gift Policy is a proactive measure to prevent corruption and misconduct, reducing monopolies and preferential treatment of certain partners.

2. Creating organizational culture

It promotes and elevates staff ethics, instilling comprehensive environmental awareness among employees.

3. Redirecting budgets to social capital

This initiative has led organizations to launch projects reallocating budgets previously used for New Year activities to support charities or social programs that provide concrete benefits.

Follow sustainability news herehttps://www.thairath.co.th/money/sustainability      

Follow the Facebook page: Thairath Money at this link -https://www.facebook.com/ThairathMoney