The Egyptian Arab Land Bank is seeking the compliance of all staff with the values, principles, morals and behavioral rules required to achieve the objectives and interests of the Bank and not to participate in any illegitimate activities that breach the law, such as theft, fraud, cheating and money laundering or any breach to the regulations and laws whether directly or indirectly in preservation to its reputation and the reputation of its staff.
From this standpoint, all employees upon gaining knowledge of the presence of any illegitimate or unethical acts, fraud or learning of any acts, circumstances or events that may damage the interests of the Bank or its reputation or upon receiving information on any other breach must report it to the Compliance Sector.
The Compliance Sector shall comply with not disclosing the identity of the whistle blower to guarantee encouraging the staff to disclose such violations and report them, and provide protection to the whistle blower; taking into account that the process of whistle blowing is carried out on basis of documents or specified information within the framework of complete confidentiality.
EALB developed specific policies for compliance. The Bank's Compliance Function must be sustainable, effective and independent to ensure compliance with laws, regulations and regulatory directives as well as the Bank's policies and procedures.
The Compliance Function reviews and monitors the Bank's compliance risks. It also helps the senior management to effectively manage the compliance risks that the Bank is exposed to.
A set of compliance procedures have been implemented to monitor the following as a minimum:
• Carrying out bank’s transactions in an integrated framework of internal and external directives.
• Reporting to the Compliance Group any failure of any employee to perform his/her duties or comply with laws or regulations.
• Continuously following up the effective remedy of compliance deficiencies
Code of Ethics
EALB aims to ensure the compliance of all employees with the values, principles, ethics and behavioral rules required to assist in achieving the objectives of the bank via providing support to the confidence and creating a good climate for work
1. Sincerity, integrity and honesty at work
2. Applying the policies and regulations that regulate the flow of work
3. Treating others with respect and equality
4. Maintaining the confidentiality of information
5. Avoiding conflict of interests
6. Respecting and supporting the bank
Whistle Blowing Policy
EALB conducts its business with high standards of integrity and honesty and expects the same standards from all clients.
We aim to ensure that our clients are fully aware that they should report concerns or suspicions about any wrongdoing, unethical practice or criminal acts on the part of any employee of EALB and be assured that any information received will be treated seriously, in line with best practice and applicable law, and as far as possible, confidentially. What should be reported
There is no definitive list of what would be classified as wrongdoing, but examples include, although are not limited to, the following acts:
1. A criminal offence including fraud or theft
2. A failure to comply with a regulatory or legal obligation
4. Bribery or corruption (e.g. accepting incentives in return for awarding business, or receiving benefit)
• Any attempt to conceal any of the above matters
Our response to reports
Once a concern or incident has been reported we will make preliminary enquiries and decide if further investigation is needed. If so, a decision will be made. If possible we will advise you of the outcome of any investigations.
Any client who does report their genuinely held concerns will NOT be victimized or treated less favorably in any way as a result.
Deliberately raising false or malicious allegations is not acceptable and will be viewed extremely seriously.
Governance tackles the method adopted by the bank's Board and senior management to guide and oversee its affaires and daily activities, which affect the following:
1. Developing strategies and setting objectives.
2. Defining bank’s risk appetite.
3. Overseeing bank’s daily business activities.
4. Maintaining balance between assuming responsibility towards shareholders and protecting the interests of depositors, taking into consideration the other stakeholders› interests.
5. Ensuring that bank’s business activities are conducted safely and properly within the framework of applicable laws and controls.
6. Following effective disclosure and transparency policies.
Developing an effective governance system is of paramount importance to ensure the proper functioning of the banking sector and the economy as a whole. Banks play a vital role in supporting the national economy by providing funds into businesses and projects which drive economic growth.
AML laws and regulations target criminal activities including market manipulation,
trade in illegal goods, corruption of public funds and tax evasion,
as well as the methods used to conceal these crimes and the money derived from them.
Criminals often "launder" money they obtain through illegal acts such as drug trafficking so the funds cannot be easily traced to them.One common technique is to run the money through a legitimate cash-based business owned by the criminal organization or its confederates.
The supposedly legitimate business deposits the money, which the criminals can then withdraw.
Money launderers may also sneak cash into foreign countries to deposit, deposit cash in smaller increments to avoid arousing suspicion, or use illicit cash to buy other cash instruments. Launderers will sometimes invest the money, using dishonest brokers willing to ignore the rules in return for large commissions.
Our bank adheres to the regulatory controls and customer identification instructions, regulations issued by the Egyptian Anti-money laundering and combating terrorism unit and the relevant applicable laws and FATF recommendations and all the principles of the (Wolfsburg group) for AML/CTF as well as all the principles of "know your client" (KYC).
The bank also abides by the AML law No. 80 for the year 2002, its executive regulations and all subsequent amendments of the law and all other relevant laws to comply these recommendations and regulations, in addition to our Anti-money laundering and terrorism financing policy and customer acceptance policy included.
In light with our bank’s direction towards innovation by improving the banking services provided to our clients to maintain the current clients and gain their confidence also to reveal any obstacles in the most appropriate and fastest way.
And according Central Bank of Egypt instructions issued on February 19, 2019 regarding protecting the rights of bank customers and setting standards for internal policies and procedures that must be available with banks to ensure that clients obtain their rights at all stages of dealing in terms of:
1. Fairness and transparency in dealing.
2. Maintain the confidentiality of customer data.
3. The existence of an effective mechanism to deal with complaints.
4. Raising the banking awareness of customers to enable them to make sound decisions.
This has a significant impact on enhancing financial inclusion, as protecting customers' rights is one of the main elements to achieve it, as it has an effective role in establishing customer confidence in the banking sector. Accordingly, the Customer Rights Protection Unit was established to examine complaints submitted by customers and dealers with the bank through the channels designated for this within the various sectors and branches of our bank.
How to submit a Complaint:
1- “Complaints Boxes” available within our branches
2- Via E-mail :
3- Via website:
4- Call Center No: 19939