The Board of the Central Bank of Azerbaijan has approved the "Code of Ethical and Professional Conduct in the Financial Sector."
According to the regulatory body, the code was prepared within the framework of the "Financial Sector Development Strategy for 2024–2026" to enhance professionalism in the financial sector and unify standards of ethical conduct.
It is noted that the code establishes a unified framework of conduct for all professionals working in the financial sector, providing a reliable reference for adhering to ethical principles. The document serves as institutional support for supervised entities in improving existing internal codes and developing new ones.
"The document reflects 8 ethical principles, 6 rules of professional conduct, and a mechanism to ensure their application. The code defines standards of conduct for professionals towards clients, the financial sector and its institutions, other professionals, legislation, society, and the environment, and also contributes to strengthening the concept of multifaceted professional responsibility. This initiative aims to establish unified standards of ethical and professional conduct in the financial sector, maintain a favorable and sustainable environment for the development of professionals, ensure sustainable development and stability of the financial sector, and increase consumer confidence in the financial sector," the statement said.
To review the code, follow the link: https://uploads.cbar.az/assets/0692a776092ea3c7fd56e945a.pdf