- GENERAL PROVISIONS:
ARTICLE 1. PURPOSE AND SCOPE:
Basic purpose of the Professional Ethical Principles of the Association of Financial Institutions (the “Association”), applicable on all kinds of relations and affairs of companies, being members of the Association, with each other or with their customers, shareholders or employees, or with other entities and institutions, is to maintain the continuity of professional reputation, and to protect stability, trust and confidence in the relevant sectors with regard to fields of business of financial leasing, factoring and finance companies.
İş Finansal Kiralama A.Ş. Ethical Principles (“Ethical Principles”) determines and sets down the rules and principles required to be complied with in all kinds of relations and affairs of İş Finansal Kiralama A.Ş. (the “Company”) with the Association members, and with its customers, shareholders and employees (“Employees”), and with other entities and institutions, and forms a basis for sanctions to be imposed by the Company in the case of breach of these principles.
Ethical Principles will be published in the Company’s corporate internet site (www.isleasing.com.tr) and the Company’s internal publications. It is the responsibility of Managers of the Company to communicate these Ethical Principles to all Employees, and to ensure that the Employees place the required importance on these rules, and to endeavor and show leadership for compliance with these rules. The Board of Directors, Senior Management, Managers and Employees are all liable to comply with these principles.
ARTICLE 2. GROUNDS:
These Ethical Principles are relied upon the “Financial Leasing, Factoring and Finance Companies Professional Ethical Principles” published and made effective by the Association of Financial Institutions (the “Association”) on 18 March 2015, and the provisions of “Corporate Governance Communiqué” published by the Capital Markets Board.
ARTICLE 3. GENERAL PRINCIPLES:
For the sake of trust and stability in financial markets, and for effective operation of crediting systems by also taking into consideration the requirements of economic development, and for prevention of practices and actions which may cause substantial damages in economy, and with a view to safeguarding the social interests and for protection of environment, the Company and the Employees perform their duties and functions and take actions in tandem with the following general principles.
- A) HONESTY:
In performing its activities, and in all its relations with its customers, Employees, shareholders, group companies, and with Association members, vendors, and other entities and institutions, the Company adheres to and acts in line with the principle of honesty.
- B) NEUTRALITY:
The Company does not discriminate between its Employees and customers, and refrains from acting in a biased and prejudiced way.
In providing its services to its Customers, the Company does not make any discrimination on the basis of such differences as national or ethnic origin, religion, financial and social status, or gender.
- C) RELIABILITY:
In all of its services and actions, the Company gives clear, understandable and true information to its customers and offers its customer services completely and timely, within a mutual trust atmosphere.
- D) TRANSPARENCY:
The Company keeps its customers informed clearly, understandably and explicitly about such issues as rights and obligations, benefits and risks of products and services provided to the customers.
- E) SAFEGUARDING THE SOCIAL INTERESTS, AND RESPECT FOR ENVIRONMENT:
In all its activities and operations, in addition to profitability, the Company makes a point of giving support to social and cultural activities in the light of the principles of safeguarding the social interests and of respect for environment.
- F) PREVENTION OF LAUNDERING OF CRIME REVENUES:
Within the framework of international norms and national applicable laws, the Company adopts it as an important principle to fight against laundering of crime revenues and against corruptions and similar other crimes, and does its best in order to enter into cooperation with both Association members and other entities and institutions and concerned authorities. The Company internally takes the necessary measures and organizes training programs for its Employees in connection therewith.
- G) INSIDER TRADING:
The Company takes all kinds of actions in order to prevent use of insider information.
- RELATIONS OF COMPANY WITH PUBLIC ENTITIES AND
ARTICLE 4. RELATIONS WITH PUBLIC ENTITIES AND
In its relations with public entities and administrations, the Company acts in line with honesty, accountability and transparency principles, and ensures that all information, documents and records requested for audit and control purposes pursuant to the laws are provided accurately, completely and timely.
Other than issues which are solely concerned with the Company itself, the Company will inform the Association before taking comments and opinions of public entities and administrations on issues which may ultimately be binding on the Financial Leasing Sector.
III. RELATIONS WITH MEMBERS OF THE ASSOCIATION:
ARTICLE 5. EXCHANGE OF INFORMATION:
To the extent allowed by the applicable laws and regulations, the Company exchanges information with members of the Association accurately and systematically on all and any subjects whatsoever.
ARTICLE 6. PERSONNEL MOVEMENTS:
The Company refrains from all kinds of acts which may lead to unfair competition about employment of personnel.
In spite of freedom of contract and movement in terms of employment of personnel pursuant to the Labor Act and other relevant applicable laws and regulations, the Company takes care to ensure that its personnel recruitments do not interrupt services of other companies. The Company acts honestly and objectively in providing information that may be requested by other companies about its ex-employees.
ARTICLE 7. COMPETITION:
The Company considers and treats competition as a legitimate contest among all companies operating in financial leasing, factoring and finance sector enabling the market actors to take their economic decisions freely. Therefore, in its activities carried out within free market economy, the Company avoids all kinds of acts, behaviors and statements which may lead to unfair competition, within the frame of principles of not only safeguarding its own interests, but also:
- ensuring continuity of trust in financial leasing, factoring and finance companies in general; and
- endeavoring for further development of the sector; and
- safeguarding joint interests of market players.
This principle is both valid for the Company as a separate legal personality, and covers the acts, behaviors and statements of Managers and Employees of the Company as well.
ARTICLE 8. ADVERTISEMENTS AND PROMOTIONS:
In its advertisements and promotions aimed at promotion and marketing of both its own financial products and the products and services of members of the Association, the Company complies with the laws and general ethical rules, and acts honestly and realistically, and refrains from all kinds of acts or behaviors which may damage the prestige and reputation of its sector, and may misrepresent its sector.
In its advertisements and promotions, the Company does not use any words or phrases defaming or humiliating other Association members or products and services of other Association members.
- RELATIONS OF COMPANY WITH ITS CUSTOMERS:
ARTICLE 9. INFORMATION OF CUSTOMERS:
With respect to all kinds of products and services offered to its customers, the Company gives true, accurate and complete information to its customers in a timely manner at all stages of service relations and in all aspects, by strictly complying with the limitations set forth in the applicable laws.
ARTICLE 10. CUSTOMER SECRETS:
The Company is under obligation to keep in strict confidence all kinds of information and documents of customers and not to divulge them to third parties, other than persons and entities who are clearly and legally authorized to request information and documents.
ARTICLE 11. SERVICE QUALITY:
The Company considers service quality as a condition precedent of meeting the customer needs and expectations through top quality services to be provided. The Company makes sure that two basic elements of this concept, i.e. technological infrastructure and qualified human resources, are used for continuous development in service quality.
The Company provides services of the same quality and same level to all customers. However, identification of target markets, and differentiation of organizational structure and product range or mix according to the target masses, or adoption of different approaches towards customers in different risk groups cannot be construed as a discrimination among customers or as categorization of customers.
ARTICLE 12. CUSTOMER COMPLAINTS:
The Company establishes a system capable of responding to all kinds of questions of its customers with respect to its services, and keeps its customers informed about the services.
The Company delves into causes of customer complaints, and takes actions required for non-repetition of just complaints. The Company informs its Employees for correction of mistakes leading to complaints and for prevention of repetition thereof.ARTICLE 13. SECURITY:
The Company takes all kinds of technical and legal actions for the sake of transactional security in all and any service environments due to changing service channels and technological developments. The Company informs its customers about actions taken by itself and actions required to be taken by the customers.
- RELATIONS WITH EMPLOYEES:
The Company adopts a strategy respectful for rights and interests of its Employees and applying contemporary human resources policies. The Company accepts and treats collaboration and solidarity as important elements of work environment; encourages mutual respect; assures continuity of peace at work; creates appropriate environments where the Employees may express themselves and uses such environments for development of the Company and its Employees; and supports social events and activities of the Employees based on voluntary participation.
ARTICLE 14. GENERAL QUALIFICATIONS OF EMPLOYEES:
The Company makes sure that its Employees have the knowledge and the sense of responsibility necessitated by their job positions and duties.
ARTICLE 15. RECRUITMENT AND CAREER DEVELOPMENT:
The Company provides equal opportunities both in recruitment and in career development without any discrimination among its Employees. Departing from the principle of best management of human resources, the Company provides training courses, seminars and similar other facilities needed by its Employees to reach the knowledge level according to the necessities of the time and the profession.
In professional promotion of its Employees, the Company takes into account not only their knowledge, skills and personal successes, but also their loyalty to Ethical Principles and their care shown in implementation of principles.
ARTICLE 16. REPRESENTATION PRINCIPLES AND WORK
The Company issues internal regulations requiring its Employees to be clean and well-groomed in line with reputation of profession and knowing that they represent the Company.
The Company takes actions in order to increase motivation of its Employees in all service units and for the sake of provision of service under better conditions, and creates a healthy and safe work environment.
The Company takes required actions in order to prevent all kinds of harassment, especially mobbing, and holds an investigation in the case of allegations thereof. If a mobbing act is detected as a result of investigation, it takes the required actions and applies the sanctions required as per the pertinent laws.
ARTICLE 17. WORKING HOURS:
The Company ensures that adequate personnel of a number fit for the workload are recruited and employed. It organizes its Employees in such manner to use them with maximum efficiency within working hours, and shows maximum efforts to ensure that overtime work is not needed, and the Employees regularly use their annual leaves.
ARTICLE 18. RIGHTS OF EMPLOYEES:
The Company assures that all rights of the Employees arising out of the applicable laws and regulations are recognized and granted fully, accurately and timely.
ARTICLE 19. RELATIONS OF EMPLOYEES WITH CUSTOMERS:
The Company issues internal regulations precluding its Employees from:
- entering into non-ethical relations with customers such as debt/credit and surety relations; and
- getting gifts from existing or potential customers; and
- deriving personal benefits from their own business relations or from opportunities of customers by using their personal positions.
- PROFESSIONAL RULES AND ETHICAL PRINCIPLES TO BE ABIDED
BY COMPANY EMPLOYEES:
ARTICLE 20. PROFESSIONAL RULES AND ETHICAL PRINCIPLES TO BE
ABIDED BY EMPLOYEES:
The Employees are obliged:
- to comply with the current applicable laws and regulations in the course of performance of their job duties; and
- to keep their customers informed about benefits and risks of products and services offered to them; and
- to provide unbiased and fair services to customers receiving the same services; and
- not to disclose any secrets of the Company and its customers, which come to their knowledge in the course of performance of their job duties, to third parties other than the authorities legally and clearly authorized to request them; and
- not to cause any loss of reputation of the Company in their works and behaviors; and
- not to engage in activities which may lead to their identification as a “Commercial Enterprise” or as an “Artisan or Tradesman”; and
- not to act contrary to justice, integrity, honesty, reliability and social responsibility principles; and
- to enter into cooperation and to establish respectful and attentive communication with other employees in tandem with joint purposes and motives in performing their job duties and obligations; and
- not to use the assets and resources of the Company inefficiently and for non-intended purposes; and
- not to derive personal benefits from their own business relations or from opportunities of customers by using their personal positions; and
- to immediately refuse offers made to them for provision of benefits, and to report such offers to official authorities and their superiors; and
- to direct potential customers first of all to the Company; and
- not to enter into non-ethical relations with customers such as debt/credit and surety relations; and
- not to accept gifts from existing or potential customers other than common usage and practices; and
- to assume responsibility and accountability with respect to their duties in the course of performance of services; and
- not to ruin the reputation of the Company and other financial institutions and not to engage in defamatory or humiliating acts towards business partners, shareholders, employees and customers by using their own identity or by concealing their identity or by using misleading identities in media and social media environments, profile accounts or other communications; and
- not to take acts binding on the Company, and not to give deceptive and untrue statements by overriding their authority in performance of their job duties.
ARTICLE 21. DEVELOPMENT OF ETHICAL PRINCIPLES OF COMPANIES:
The Company may at any time and in its sole option make proposals to the Board of Directors of the Association for development and if required, for amendment and revision of the Ethical Principles.
VII. RELATIONS OF COMPANY WITH THE ASSOCIATION:
ARTICLE 22. RELATIONS WITH THE ASSOCIATION:
In its relations with the Association, the Company acts in line with honesty and transparency principles, and ensures that all requested information, documents and records are transmitted accurately, completely and timely.
The Company will not make public:
- information about other members of the Association; and
- correspondences exchanged by the Association with public entities and administrations; and
- agreements signed by the Association with its service providers, advisors and consultants; and
- any kind of confidential information and documents sent and provided by the Association.
VIII. RELATIONS OF COMPANY WITH ITS SHAREHOLDERS:
ARTICLE 23. RELATIONS WITH SHAREHOLDERS:
The Company protects the rights and interests of shareholders as outlined and determined by the applicable laws, and shows maximum efforts to create value against resources provided by shareholders. The Company makes sure that the required information is disclosed to shareholders and to public accurately, completely and timely. The resources, assets and working time of the Company are managed efficiently on the basis of sustainable growth and profitability.
- OTHER PROVISIONS:
ARTICLE 24. COMPLIANCE WITH LAWS AND LEGAL ACTIONS:
The Company complies with all laws and regulations within the fields of business of the Company, and all policies and working principles published by the Board of Directors of the Company. The Company establishes the systems required for keeping of all operational and legal records completely and in accordance with the laws, and keeps all records, and issues all reports. The Company ensures that agreements signed with other persons and entities are open, clear and understandable and compliant with laws and the Ethical Principles. Other than those authorized in accordance with the principles and limits set forth in the signature circular or the relevant special authorization certificate, the Company takes actions to prevent any Employee from entering into engagements binding on the Company.
ARTICLE 25. PUBLIC DISCLOSURE:
The Company publishes all public disclosures, statements or bulletins through its legal representatives in compliance with the laws. The Company ensures that disclosures that are newsworthy or for promotion purposes are made by the Company representatives designated in accordance with the information policy of the Company. Information requests of third parties, which are by nature in confidential category for the Company, are responded within the knowledge of the Top Management.
ARTICLE 26. CONFIDENTIALITY:
The Company and its Employees know that all financial and trade secrets of the Company, and all information which, if disclosed, may weaken the competitive power of the Company, and personnel rights and information, and agreements signed with business partners are “confidential” by nature, and they protect and keep them in strict confidence. Information and documents obtained as a requirement of business may in no case and for no purpose whatsoever be shared with unauthorized persons or entities inside or outside the Company, and be used for speculative purposes or personal interests.
ARTICLE 27. DETECTION OF BREACHES, AND SANCTION:
Transactions or acts alleged to be contrary to the Association’s Ethical Principles and Professional Rules and Decisions are first of all evaluated in the relevant sector committees, and then presented to the decision of the Board of Directors of the Association. If the Board of Directors of the Association decides that a company has breached these Ethical Principles, then it may inflict an administrative fine pursuant to article 42.3 of the Law no. 6361, and it is separately reported to the Banking Regulation and Supervision Authority.
ARTICLE 28. EFFECTIVE DATE:
These Ethical Principles have entered into force as of 30.06.2015.
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