The Islamic Development Bank (IsDB) Group has introduced several key instruments against corruption, said Bank President H.E. Dr. Bandar Hajjar during a meeting at IsDB headquarters marking 9th December as International Anti-Corruption Day.
The instruments include IsDB’s Integrity Principles and Guidelines; Whistleblower and Witness Protection Policy; Integrity Amendments to the Guidelines for Procurement of Goods and Works; and the Use of Consultants under IsDB financing.
“The recent Financial Disclosure and Conflict of Interests Program will further complement the new version of our Code of Conduct to guide the staff and remind them of their rights and obligations towards their institution,” Dr. Hajjar said.
Dr. Hajjar emphasized that corruption is a threat not only to sustainable development, but also to the ultimate goal of ending extreme poverty and boosting shared prosperity.
“It goes without saying that corruption deters investment and erodes support for development assistance,” he said. “Therefore, the IsDB Group, in accordance with Islamic principles and values, plays an active role in the fight against corruption and maintains an environment where proper ethical conduct prevails, as corruption is not only an illegal issue but immoral behavior.”
Dr. Hajjar added that IsDB holds its own Islamic values, the most important of which is the promotion of integrity and the fight against corruption.
“Article twelve of the IsDB Articles of Agreement stipulates that the Bank has an obligation to ensure its resources and facilities used solely for their intended purposes.” He said. “As a major development financing institution of the Muslim world, IsDB is expected to play a leading role in addressing the daunting challenges facing member countries and contributing to introduction of real change to people’s lives. This is a fundamental prerequisite for achieving good governance and maintaining
our AAA rating.”
Encouraging the staff to go the extra mile to enhance and strengthen the anti-corruption measures at the Bank, Dr. Hajjar reiterated that individuals have a major role to play to enforce the current Integrity Policy and reinforce a zero-tolerance culture as effectively as possible. He expressed full confidence that the collective effort of staff will enhance integrity and ethical values in all activities of the IsDB Group.
Since 2003, December 9th has been regularly celebrated as International Anti-Corruption Day. It marks the date when 129 member states signed the United Nations Convention Against Corruption in Merida, Mexico. Since then, the number of signatories to the convention has reached 140 states. Fifty-four member countries of IsDB have so far joined the Convention in recognition of corruption as a major obstacle impeding socio-economic development and consequently undermining poverty elimination
policies, programs and projects.