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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 166
The ethical standards to which AfrAsia Bank Limited adheres are based on the following legislation and regulation:
Financial Intelligence and Anti Money Laundering Act 2002 (FIAML Act 2002)
Financial Intelligence and Anti Money Laundering Regulations 2003 (FIAML Reg 2003)
Bank of Mauritius Guidelines and Guidance Notes
AfrAsia Bank Limited Corporate Governance Committee
AfrAsia Bank Limited Anti Money Laundering Policies and Procedures and Futher information is provided on page 105.3. Develop and provide financial products and services responsibly
AfrAsia Bank Limited is committed to providing products and services that create value for its customers while adapting to their evolving
lifestyles. Intensive research is carried out for new offerings and the Bank’s Product Committee analyses the approval process to ensure
that it can confidently offer clients banking solutions within an ethical and competitive pricing strategy.
The Bank is committed to a business exclusion list highlighting areas that it will not invest in nor provide financing for. The areas identified are:
Business Exclusion List
Hazardous and radioactive materials
Waste or waste products not in accordance with the Basel Convention
Drift net fishing using excess length of fish nets
Pharmaceuticals, pesticides, chemicals and ozone depleting substances
Destruction of Critical Habitat
Wildlife or wildlife products which do not respect the Convention on International Trade in Endangered Species of Wild Fauna and Flora
In line with the UN Global Compact requirements, the Bank has a precautionary approach towards environmental challenges and encourages
the development and practices of environment-friendly technologies.
Moving forward, the Bank will work alongside relevant stakeholders to introduce more green products and services and improve its
practices, this will be implemented as part of its three-year Environmental Programme.
FOLLOWING THE SUSTAINABILITY PATH (CONTINUED)