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Whistleblowing Policy



  1. MNRB Group Policy Statement

    MNRB Group is committed to carrying out its business in accordance to the highest standards of professionalism, honesty, integrity and ethics. Accordingly, MNRB Group has established a Whistleblowing Policy (“the Policy”) with the following intended objectives:

    a.To help develop a culture of accountability and integrity within MNRB Group of Companies (“the Group”);
    b.To provide a safe and confidential avenue for ALL employees, external parties and other stakeholders to raise concerns about any unacceptable practice or misconduct;
    c.To reassure whistleblowers that they will be protected from detrimental action or unfair treatment for disclosing concerns in GOOD FAITH; and
    d.To deter wrongdoing and promote standards of good corporate practices.
  2. Scope
    This Policy governs the disclosures, reporting and investigation of misconduct within the Group as well as the protection offered to the person(s) making those disclosures (“Whistleblower(s)”) from detrimental action in accordance to Act 711, Whistleblower Protection Act 2010. The scope of the policy applies to MNRB Group’s Board members, employees, external parties and other stakeholders. This Policy supersedes other policies of the Group in terms of execution including procedures relating to grievances and complaints, job performance, terms and conditions of employment or disciplinary procedures.

  3. Definitions
    a.MNRB - MNRB Holdings Berhad
    b.Group - MNRB and all its subsidiaries
    c.Company - MNRB or any other subsidiaries of MNRB, where applicable
    1. Whistleblower - A person or entity making a disclosure about improper or illegal activities. Whistleblower may include ALL employees, external parties and other stakeholders.

    2. Misconduct
      1. Misconduct connotes improper activity that include, but are not limited to:
        a.a suspected criminal offence;
        b.contravene any of the requirements and standards of a regulatory body, shariah principle (for Takaful and Retakaful), professional body, government or its agencies;
        c.impropriety, corruption, acts of fraud, theft and/misuse of the Company’s properties, assets or resources;
        d.abuse of power or authority;
        e.serious conflicts of interest without disclosure;
        f.sexual harassment;
        g.bribery, blackmail and miscarriage of justice;
        h.attempts to suppress or conceal any information relating to any of the above; and
        i.inappropriate business practice.
    3. Good faith
      Good faith is evident when the disclosure is made without malice or consideration of personal benefit and the Whistleblower has a reasonable basis to believe that the allegation is true; or reasonably substantiated evidence tendered. Good faith is lacking when the disclosure is reasonably verified as mala fide, frivolous, malicious, vindictive or baseless.
  4. Protection for the Whistleblower
    It is the Group’s policy to encourage its employees and external parties to disclose any misconduct, and to fully investigate disclosures of such misconduct. It is the Group’s policy to provide the Whistleblower, protection in terms of confidentiality of information, and safeguard the Whistleblower from any act of interference that may be detrimental to the Whistleblower. The Group assures that all disclosure will be treated with strict confidentiality and upon verification of genuine cases, prompt investigation will be carried out.

  5. Roles and Responsibilities
    1. Board of Directors
      The Board shall be responsible to approve this Policy. The Board shall:
      i.oversee that there are adequate resources available to address all concerns raised by the Whistleblowers and that they are properly investigated and appropriate actions taken; and
      ii.guarantee the protection of Whistleblowers if the disclosure is made in good faith and in accordance with this Policy.
    2. Management Committee (MC)
      The Group MC will implement this Policy and promote it across the Group by fostering and maintaining an environment where Whistleblowers can act appropriately, without fear of retaliation.

    3. Recipient of Disclosure
      The official avenues for disclosure by the Whistleblower are via the following recipients:
      i.Chairman of MNRB Holdings Berhad
      ii.Chairman of MNRB Holdings Berhad’s Audit Committee
      iii.President & Group Chief Executive Officer (President & GCEO)

      Types of disclosures are categorized based on the following matrix:

      Disclosure Matrix for MNRB Whistleblowing Policy

      Category 1:

      Designated Recipient:

      For disclosures against:


      1. Chairman of the Board

      PNB’s President & Group Chief Executive

      Category 2:

      Designated Recipient:

      Chairman of MNRB Holdings Berhad

      For disclosures against:
      1. Chairman of the Audit Committee
      2. Board Members
      3. President & GCEO
      4. Shariah Committee Members

      Category 3:

      For disclosures against:
      1. Chief Executive Officer
      2. Senior Management
      3. Staff and External Party

      Designated Recipients:
      1. Chairman of MNRB Holdings Berhad
      2. Chairman of MNRB Holdings Berhad’s Audit Committee
      3. President & GCEO

      The role of recipients includes:

      i.To evaluate the issues/concerns disclosed relating to the Company or its employees and determine that there is a genuine concern to be investigated further.
      ii.To decide on the next course of action at their discretion.
    4. Role of Whistleblowers
      1. Any person may disclose allegations of suspected misconduct or any breach or suspected breach of law or regulation that may adversely impact the Company.
      2. Acts of misconduct may be disclosed via e-mail sent to the dedicated e-mail addresses, verbally to designated person or private meeting so as to assure a clear understanding of the issues raised. If desired, a form is made available for the Whistleblower to disclose the misconduct (Appendix 8.2).
      3. In raising genuine concerns, Whistleblowers should note that: is best to raise early and identify or supply as much factual and verifiable facts and objective information pertaining to the issue/allegation; safeguard from the abuse of this disclosure process, a malicious or knowingly false complaint will not be entertained or may lead to disciplinary/legal proceedings; and
        iii.investigation/verification proceedings must not be discussed or disclosed to any other personnel in order to protect the integrity and confidentiality of the matter.
  6. Procedures
    1. Whistleblowing Procedures
      Disclosure of misconduct shall be in writing via email to
      1. The disclosure should seek to obtain pertinent facts including:


        a.the background and history of the issues concerned (giving relevant dates);
        b.the reason why the Whistleblower is particularly concerned about the situation; and
        c.enclose any supporting or documentary evidence (if available).
      2. If an allegation is raised verbally, the recipients of disclosures may put the verbal disclosure in writing, as soon as it is practical to do so. The information should be reviewed and confirmed by the person providing the information. This is to ensure that it properly reflects the concern that has been raised and it was accurately understood.
      3. When dealing with a disclosure filed under the Whistleblowing Policy, the recipients of disclosures must determine whether there is sufficient evidence to substantiate the disclosure and the corrective and preventive actions to be taken.
      4. A register of all disclosures received shall be maintained at the President and GCEO’s Office.
      5. Any anonymous disclosure will not be entertained. Any employee or member of the public who wishes to report misconduct is required to disclose his or her identity to the Company in order for the Company to accord the necessary protection against him or her. However, the Company reserves its right to investigate into any anonymous disclosure.
    2. Investigation Procedures
      1. Designated Recipients may appoint an Investigating Officer from Group Internal Audit or any party deemed appropriate, to investigate the case and propose action to be undertaken. The Investigating Officer may arrange interviews with any persons he deems appropriate, depending on the nature of the allegation and to secure the discovery/disclosure of all relevant documents and information.
      2. Where appropriate, the disclosure raised may: further investigated by the Group Human Capital Management Department, or dealt with through the disciplinary process; referred to the relevant authority such as the Royal Malaysia Police, Malaysian Anti-Corruption Commission or regulatory authorities, such as Bank Negara Malaysia, etc.; referred to the external auditor;
        iv.result in the formation of an independent inquiry; or
        v.lead to the seeking of relevant external assistance other than those listed above.
      3. The Group reserves the right not to inform the Whistleblower of the precise action plan and/or the outcome of the investigation as this may infringe a duty of confidentiality owned to someone else.
      4. The concluded investigation report shall be tabled to the Board. The Board will evaluate and decide on the necessary action(s).
  7. Staff Awareness
    As far as reasonably practicable all employees shall be given appropriate awareness of this Policy and such information is made accessible via the Corporate Portal. This shall include information on how to identify and disclose misconduct, communicate the protections afforded to Whistleblowers, and potential consequences of committing or being complicit to misconduct.

  8. Appendices
    1. Whistleblowing Process

    2. Whistleblower Disclosure Form