Anti-corruption programmes and procedures
We KMD believe that, from the ethical point of view, corruption is a violation of vital principles of social and economic life. For business companies, corruption creates unfair conditions for trade and finance. We appreciate the initiative effort of the United Nations Convention against Corruption (UNCAC) which came into force in December 2005. KMD will not tolerate or in any way be involved in any form of corruption or bribery, including any kind of illegal payment offer or similar benefit to administrative officials, in order to influence decision-making. KMD will undertake that, none of its employees or managers will offer, pay, promise, authorize or give anything of value to any employee or manager for purposes of obtaining or retaining favors or any improper advantages.Within the company, KMD has policies towards corruption, bribery and extortion:
- Not to give and take any form of bribery among employees.
- Not to give any form of bribery to management levels.
- Not to accept any form of bribery from customers, suppliers, and business partners.
- To obey applicable local and regional legal laws.
- To respect international legal frameworks against corruption.
Over the past years, internal and external checks & balances system over the business transactions were audited by internal audits, external audits, finance, administration and HR department, in order to detect and minimize anti-corruption risks and to respond appropriate actions to incidents. For upcoming years 2018 – 2023,
- We will communicate to all employees to follow on the anticorruption commitment.
- Internal and external checks & balances system over the business transactions will be kept audited, maintained, and controlled by internal audits, external audits, finance, administration and HR department.
- Appropriate actions will be taken against to incidents.
- Our policies and implementations towards corruption, bribery and extortion will be reviewed and amended, based on priority and requirement.
Measurement of outcomes
KMD has never been involved in any legal cases with its business suppliers, partners, related to corruption and bribery. Because of regular and compulsory auditing system practiced within the company, corruption risks were almost minimized or non-existed.For upcoming years, KMD will continue to keep its commitment to be in compliance with its policies, applicable regional laws, regulations and standards; as well as implement an effective system to identify and eliminate hazards of corruption, bribery and extortion; and all its outcomes will be periodically measured, reviewed, and necessary actions will be further carried out against the problems.