Al Masaood Code of Conduct

The Code sets out the minimum standards of behaviour that we expect to be adhered to by all employees of Al Masaood Group or on its behalf. 

The Code explains the group's obligations to apply integrity standards in everything we do and defines the basic rules that are essential to conducting our business in an ethical, compliant and manner consistent with our values. The Code includes the main elements of Al Masaood Group's 'compliance programme', provides practical advice to help you to know how to act in specific circumstances, and identifies channels that can provide support and assistance to you when needed.

Download our Code of Conduct

Al Masaood Risk and Compliance Programme 

The Group Risk, Insurance and Compliance team is responsible for ensuring that there is an effective risk and compliance programme in place across the Group’s businesses.

Our compliance approach is guided by ISO 19600, which sets principles for the development, implementation and maintenance of effective compliance programmes. 

The principles of the compliance standard are summarised below: 

• Commitment: Al Masaood’s senior management is committed to meeting the contractual obligations 

• Implementation: The business is appropriately resourced and trained on requirements 

• Monitoring & measurement: Compliance-related activities are reported to the Business CEO, ExCo and Directors, as and when required 

• Continual improvement: The control weaknesses identified are recorded and addressed with relevant stakeholders 

Al Masaood adopts an enterprise risk management philosophy where formal risk management processes are embedded within day-to-day management and operations of the business. The Al Masaood Group Risk Management Framework is established to be aligned with the International Risk Management Standard (ISO 31000:2009). 

Risk management is conducted in a 5 step approach:

• Plan: This involves setting the scope for how risk management will be applied and results in a Risk Management Plan.

• Identify: Risks faced by the operations are identified.

• Evaluate: Risks identified are evaluated against its potential likelihood and impact to determine the risk rating. The risk parameters have been defined for consistency in rating.

• Take Action: Risk treatment strategies are implemented to mitigate risk and capitalise on opportunities identified. The risk treatment is agreed with risk owner and management.

Managing the Risks of Dealing with Other Parties

We base our business practise on three main pillars of long-term growth, mutual benefit and sustainable strategic performance, as part of our firm commitment to establishing sustainable partnerships with merchants and providing value-added products to all of our customers.

In Al Masaood Group, we believe that continuous product improvement, acting responsibly to protect the planet, preserving the environment and supporting the empowerment of individuals is what enables us to successfully manage our business and make us a pioneering company that works to achieve long-term value for the UAE community and our partners.

Al Masaood Group companies operate within a network that includes many other parties. As part of our continuous efforts to monitor the parties involved in our day-to-day operations, we have adopted the Supplier Code of Conduct. Our standards for ethically and responsibly conducting our business are set out in the Private Supplier Code of Conduct, which is an extension of Al Masaood's Code of Conduct and stipulates our general standards, behaviours and principals that all suppliers and service providers must adhere to. We hope that all our current and future suppliers adhere to the working mechanism that reflects our values and morals, starting with being a national company responsible for carrying out daily business in an environmentally safe and ethically sound manner.

We strive to provide effective and optimal platforms through which our partners can express their concerns when suspected of violating the rules stipulated in this code.

Download our Supplier Code of Conduct

Gifts and Entertainment

Al Masaood Group recognises the importance of maintaining close links with other parties, yet it expects its employees to act wisely regarding the level and rate of gifts / invitations, and to comply with the requirements of 'anti-bribery and corruption legislation'.

Al Masaood Group companies are obligated to comply with effective cross-border regulation of anti-bribery and anti-corruption legislation. The focus of this legislation is on combating bribery and corruption, which pose a threat to our business relationships with other parties. This applies to providing gifts and invitations to customers and other interested parties, as well as receiving gifts and invitations from external parties.

Giving gifts and invitations to other parties or receiving them from others can be considered as a bribe or a form of corruption. When the level of hospitality rises or the value of spending increases (beyond a reasonable limit), it is more likely that they are seen as practises intended to encourage or reward inappropriate performance or to influence others.

Whistleblowing - Report Matters of Concern

Everyone at Al Masaood has an equal responsibility to adhere to the Code of Conduct, and we expect all employees to work in a manner consistent with the principles of the Code.

The Code of Conduct provides clear recommendations and directions on how we interact with us, suppliers and customers. Remember, you are obligated to report anything you notice that appears non-compliant.

Violations of the Code of Conduct can be reported in a number of ways:

• Speaking to your line manager
• Speaking to a member of the 'Group Compliance Team' or the 'Head of Compliance'
• Reporting violations without having to disclose your identity either by email to riskandcompliance@masaood.com or through the website at: https://wb.masaood.abudhabi

Report Violation

Scan the QR Code