Procurement

Obligations & Standards Required
Suppliers are expected to comply with the following requirements as part of engaging with Maybank:

1. Legal & Regulatory Compliance
All suppliers shall adhere to Maybank's procurement and sourcing practices which are principally governed by regulatory and compliance frameworks applicable under the laws/regulations of Malaysia. Additionally, all suppliers are required to comply with the applicable laws/regulations in Malaysia and their respective operating countries. In the event of a conflict between the SCOC and local laws/regulations, the latter will take precedence.

2. Health & Safety
Suppliers have an ethical obligation to ensure that products sourced and services offered are manufactured or developed in safe working conditions. Hence, it is essential for suppliers to place utmost importance on:

• cultivating a conducive work environment for all by complying with local health and safety standards, regulations, and laws;
• implementing procedures in accordance with the nature and operations of the supplier’s industry; and
• providing necessary briefings and trainings for their employees to ensure work is conducted in a safe and healthy manner.
  
  

3. Environmental Standards
To ensure acceptable environmental practices are upheld, suppliers are required to:

• comply with all local environmental laws and regulations of operating countries when conducting business activities;
• maintain and update all required environmental approvals, permits and registrations in the relevant jurisdictions;
• demonstrate good stewardship while working to implement impact reduction measures for core business operations (e.g. through progressive targets and initiatives for the reduction of water and electricity consumption, management and monitoring of waste and emissions, etc.);
• have continuous business improvement plans to mitigate environmental impact from daily operations, including, but not limited to, the monitoring and control of emissions, waste and water generated;
• practice efficient utilisation of resources (such as energy, water and waste) and support the reduction of Greenhouse Gas (“GHG”) emissions which contribute to climate change issues from business activities; and
• establish environmental commitments, policies and/or procedures for the effective management of negative environmental impact.
  
  

4. Human Rights & Labour Standards
Suppliers are expected to provide a fair and ethical workplace for their employees in accordance with labour laws and internationally-recognised human rights standards, which include the integration of appropriate practices, such as:

• cultivating a culture of no discrimination and anti-harassment;
• enabling fair working hours, wages and benefits;
• ensuring no involuntary, forced and/or underage labour within the workforce;
• having available grievance mechanisms, whistleblowing channels and robust procedures; and
• allowing employees the freedom of association and collective bargaining.
  
  

Suppliers shall strictly follow legal requirements and work actively to prevent all forms of illegal child labour or exploitation in their sphere of influence. Preventive measures expected from suppliers include establishing systems to verify age at the time of employment and eligibility to work, as well as ensuring that wages are accurately paid when due.

5. Anti-Bribery & Corruption
Suppliers shall not directly or indirectly engage in any form of corrupt practice including extortion, fraud, and bribery or offer anything of value (entertainment or gifts) for the purpose of obtaining undue and improper advantage or influencing decision making in violation of the law. All business dealings should be ethical, transparent and conducted with integrity to avoid any actions which may negatively impact or damage Maybank’s reputation.

6. Quality of Products & Services
The following are key considerations for the development and distribution of suppliers’ products and services which meet our delivery expectations:

• Maintain high quality of product and service requirements, specifications and criteria in compliance with applicable laws and accepted standards.
• Have policies or processes in place to identify, prevent, mitigate and account for any detrimental ESG impacts on business operations.
• Consider sustainable procurement activities that are not linked to deforestation, forced and illegal child labour, violation of indigenous rights and local communities.
  
  

7. Financial & Business Records
Suppliers are required to accurately provide information to Maybank on request, regarding business activities, structures, financial situations and performance in accordance with applicable laws and regulations, for verification of credentials, compliance validation and performance evaluation. Maybank ensures that the relevant privacy and data protection laws for the handling of data (which may include sensitive data) are upheld.

8. Protection of Information
Maybank is committed to protecting personal data, confidential information and intellectual property. Thus, confidential information is only provided when necessary. This information is not to be disclosed by any suppliers without our prior written consent. We set the following guidelines on information handling for personal data, confidential information and intellectual property:

• Adherence to any and all standards and procedures set in relation to the handling of any personal data, confidential information and intellectual property shared by Maybank.
• Compliance with all necessary requirements and adherence to all relevant legislations pursuant to data protection and privacy.
• No releasing of any data or contract specific information including names or pricing, except as necessary at an aggregate commodity level for supplier negotiation purposes or as required by law.
• No disclosure of Maybank’s confidential information and intellectual property.
• No release of information or comments on any commercial or strategic planning aspects of Maybank’s relationship with any supplier.
• A mandatory non-disclosure agreement is to be executed in instances where Maybank’s confidential information is to be disclosed.
• Apply all necessary controls and processes to safeguard any data, intellectual property and/or confidential information shared by Maybank and to use it only for the purpose defined in the service engagement.

Reporting of Improper Conduct
Maybank is committed to ensuring that all employees and members of the public have access to secured channels to disclose any improper conduct by any member or representative of the Maybank, with the assurance that there will be no repercussions against them.

The following channels allow for the reporting of concerns on potential improper conduct against the areas laid out in the SCoC:

Reporting of Improper Conduct
All stakeholders are encouraged to provide any feedback or complaints if it comes to their attention that a person or company associated with Maybank has been in violation of the SCoC. For further information, please refer to the Maybank Group Whistleblowing Policy available on our corporate website.

Last updated in May 2024.