Principles of Information Transparency
MDM Bank’s shareholders and management consider information transparency to
be one of the most important conditions for establishing civilized business
relations in the market, an important prerequisite for achieving sustainable
operating results, as well as the keystone in creating successful competition to
attract capital investments. Ensuring information transparency by MDM Bank to
all stakeholder groups is one of the primary tasks in the Bank’s Corporate
Social Responsibility Strategy.
The Bank applies the following key principles when disclosing information to
its stakeholders:
- Reliability and consistency. The Bank provides its stakeholders with true
information. The Bank also carries out regular controls to ensure that the
information it discloses is not distorted and that the information on it
disclosed by third persons is not erroneous or false.
- Completeness. The Bank ensures that the information provided to its
stakeholders is sufficient for them to form an objective and independent
opinion about the Bank. We proceed from the legitimate rights and authority of
our stakeholders. Therewith we assume that our stakeholders respect our
commitment to never breach the principles of commercial and banking secrecy.
The Bank does not elude disclosing unfavorable information on its activities,
if such information is important for decision-making by its stakeholders.
- Timeliness. When disclosing information, the Bank strictly observes timing
requirements provided for in the acting legislation, bilateral agreements and
internal regulatory documents of the Bank. To the extent possible, we strive
to follow the best international practice in this sphere.
- Clarity and accessibility. The Bank discloses information in a form and
format easily understandable and accessible for its stakeholders. For
distribution of information, the Bank uses the most advanced methods and
technologies which ensure timely access for the vast majority of the
stakeholders.
- Stakeholder inclusiveness. The Bank provides equal opportunities to
receive both compulsory and voluntary information for all stakeholder
categories, which each has an equal legitimate right to receive such
information.
- Control over insider information. The Bank takes measures to prevent the
unauthorized usage (incl. for private purposes) and/or transfer of insider
information to third parties by the Bank’s employees.
Individual procedures on information disclosure as well as those on
distribution of functions and responsibilities in this sphere are described in
separate internal regulatory documents of the Bank.
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