Compliance

We are committed to responsible banking and to act with integrity and responsibility in everything we do. At TEB, we believe that in creating value for our clients, shareholders, employees and society, the way we do business is as important as the sustainability of our business growth.
It goes without saying that compliance with laws and regulations and the highest international standards and guidelines is part of our identity and forms the foundation for how we do business. In our opinion, the Bank should be built on trust, reliability and stability. That is why we always strive to be in line with globally recognized best practices and standards for the prevention of money laundering, terrorist financing and corruption. As TEB Sh. A. states, we are committed to ongoing compliance with relevant (international) laws, regulations and standards, including Know Your Client principles.

At the same time, we have set high standards of business integrity and ethical behavior in order to increase the effectiveness of compliance framework. In recent years, there has been a continuous increase in regulatory requirements in Kosovo and at the BNP Paribas Group level, where compliance management is becoming a top priority. As in previous years, we have faced many challenges, but appreciate the increased importance, awareness and enforcement in the field of compliance. Our team spirit, dedication and continuous improvement of our efficiency are all aimed at maintaining the integrity of our financial institution.

We expect our employees to act honestly, responsibly, fairly and professionally, serving the best interests of clients and respecting the integrity of the markets. Our code of conduct, consisting of our values, conduct and ethical requirements in business, forms the basis of how our employees behave with our colleagues and clients, business partners, shareholders and authorities. The code of conduct includes ethical provisions in business aimed at managing conflict of interest, preventing market abuse, fighting terrorism and other economic crimes.

We are committed to complying with strict laws, regulations and guidelines to combat money laundering, terrorist financing and prevent violations of international financial sanctions. We analyze our clients and their transactions to prevent our name and our products and services from being misused for such purposes. This can be seen in the increased number of employees working in our Compliance Department, as well as in the implementation of advanced tools related to AML/CFT and international financial sanctions.

To this end, we implement meticulous measures supported by automatic monitoring systems and the "Know Your Client" (KYC) screening process. Our KYC review process serves to update information to manage AML risks that may arise as a result of providing the service to an existing client. The process is in the form of regular reviews, according to the established procedures and including evaluation of the people or entities who are the ultimate beneficial owners. Preventive measures and the implementation of detailed controls help us maintain strict compliance with laws and regulations as well as BNP Paribas Group's tailored policies and procedures. Therefore, we continue to implement important projects to strengthen our IT infrastructure and cross-functional approaches to work ethics, to prevent money laundering/terrorist financing/violation of international financial sanctions and conflict of interest, and will continue working on similar projects in the future. In order to promote our compliance program and ensure awareness and compliance by our employees, we have expanded our training program to include e-learning and specific modules on key compliance topics.
The modules are available to all employees and can be adapted to the needs of our business lines in accordance with specific work requirements. They also complement the wide range of on-site training programs that address compliance topics. Most of the disciplines covered by the professional modules are based on common concepts of transparency. Our Compliance Department reports directly to the Board of Directors through the Audit Committee. Its purpose is to manage compliance risk appropriately to ensure that banking activities are in compliance with relevant laws, rules and regulations.

The main Compliance documentation: