Union Development Credit has been generally adjudged a Corporate Governance compliant bank by the International Monitory Fund hence it’s listing on the Premium Board of the Exchange. The bank recently won the award of “Best Offshore Corporate Governance ‘Financial Services for a second consecutive year, by the Ethical Boardroom. We will continue to sustain this and to reappraise its processes to ensure that our business conforms to the highest global standards at all times.
Anti-Money Laundering and Counter Financing of Terrorism
Union Development Credit has implemented an enterprise-wide Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) compliance programme, covering all of its subsidiaries and affiliates, and is designed to comply with applicable laws and regulations, within its areas of existence and operations, in the fight against money laundering, terrorism, proliferation, financial crime and corrupt practices.
Dividend Policy
The quantum of Dividend the Board recommends to the General Meeting should not exceed 85% of the distributable net profit attributable to the shareholders of the Company. However, the final amount of any proposed dividend is expected to take into account the liquidity and capital requirements of the Company
Whistle Blowing Policy
The whistle blowing policy is aimed at improving corporate governance within the Bank. It would enable the Bank obtain early warning information/signals on what may be going wrong (within and external) which if not promptly checked could be detrimental to the system.
Whistle Blowing Portal
We encourage the use of whistle blowing portal for the purpose of reporting observed anomalies where issues are deemed dangerous to the person(s) reporting them, rather than use the official communication channels.
You can also send an email to whistleblow@glovefinancehomeltd.com