Objectives & Applicability

The Bank has the Whistleblowing Policy in compliance with the local regulatory requirements and international best practice on the subject in order to: 

 

• Define the use of dedicated Whistleblowing channels and protocols that promote consistent reporting, investigation, oversight, controls, and governance. 
• Establish a unified Whistleblowing approach to cover all business lines, functions and entities;
• Prevent and/or mitigate risks such as Regulatory Compliance Risk, Financial Crime Compliance Risk and Reputational Risk, among others;
• Ensure SAB Individuals are aware of procedures to be followed if they want to raise, or if they receive, a concern through Whistleblowing channels; 
• Promote a culture of openness and transparency by enabling SAB Individuals and Stakeholders to report concerns and/or violations in a safe and confidential manner; and
• Define the adequate governance and management oversight of Whistleblowing arrangements, independence of investigations and follow-up of actions arising from such Whistleblowing investigations.

The term SAB Individual(s) are defined as employees, members of the Board and/or Board Committees, secondees, external consultants, contractors, agency employees including those who are working through a third party contract such as an outsource company or someone who is offering their personal service (a freelancer).

 

Whistleblowing Policy Statement

 

All SAB Individuals are encouraged to escalate issues related to Compliance, Conduct and Malpractice, or where an event could lead to a regulatory fine or investigation.

SAB Individuals may raise concerns in confidence through Whistleblowing channels if they feel they cannot use their normal reporting lines and escalation routes. 

Any concern that qualifies as Whistleblowing, as defined in this Policy, must not be discussed outside of the offcial channels and must be reported through Speak Up channels to allow confidential investigation, governance and reporting as per the established Policy.  

Whistleblowing concerns may be reported directly to Supervisory Authorities or relevant agencies instead of, or alongside, being reported through Speak Up. Nothing in any contract, agreement or policy may restrict or purport to restrict a SAB Individual, or Stakeholder, from raising a Whistleblowing concern, either internally at the Bank or to Supervisory Authorities or relevant agencies. 

SAB, under no circumstance, tolerates Retaliation. The Bank shall implement and oversee mechanisms through which SAB Individuals and Stakeholders feel safe to raise concerns in confidence. 

For cases reported by or against the members of the Board/ Board Committees, the Chief Compliance Offcer will have the authority to perform the thorough investigation in consultation with the Company Secretary, where applicable.

 

Whistleblowing Channels

The Bank’s offcial Whistleblowing channel is Speak Up which is accessible internally and external via email, phone and website to confidentially raise all concerns. 

 

Reports of Violations may be submitted with complete confidentiality that guarantees the rights of the person rising the issue through one of the following channels:

• Email: SpeakUp@sab.com
• Phone: 0112764440
• Mail: Head office - P.O.Box 9084, Riyadh 11413, Compliance – Whistleblowing Unit