We require an ethical behavior from our management, employees and contractors. Our commitment to ethics is expressed in our values statement and in our Code of Ethics, which is also applicable to all those who interact with BNDES, including clients and financial institutions accredited to transfer BNDES funds.
The Ethics Committee is the unit responsible for ethics management at the Bank, dealing with inquiries and conducting investigations.
Supporting the construction of an environment of integrity, we also have the compliance unit, which is in charge of the development, dissemination and monitoring of the theme, promoting actions for both internal and external audiences.
For BNDES, compliance is the duty to be compliant with regulation, according to highest ethical standards, and it has two key dimensions: conformity and integrity.In short, compliance is about being adherent to agreements and standards, while integrity is about preventing money laundering, combating the financing of terrorism and taking measures against fraud and corruption.
See the main documents:
Ethics and Integrity Guidelines for Relationship with BNDES (Available in Portuguese Only)
Main milestones in recent years
2002
- The First Code of Ethics
- Creation of our Ethics Committee
2003
- Creation of the Ombudsman’s Office
2005
- Investigation and Inquiry Standard
2007
- Creation of the Risk Management Area
- Adherence to the National Forum of Ethics Management in state-owned companies
2009
- Charter of the Ethics Committee
(Updated in 2019)
2011
- Appointment of compliance agents, who are authorities on the theme at their work units
2015
- Corporate Anti-Corruption Policy
(replaced with PCIN in 2020)
- Standards in Anti-Money Laundering and Combating the Financing of Terrorism
(replaced with the 2017 Policy)
2016
- Adherence to the Business Pact for Integrity and Against Corruption – Clean Company
- Adherence to the National Strategy for Combating Corruption and Money Laundering (ENCCLA)
- Conduct and Integrity Policy of bidding processes and procurement contracts (replaced with 2021 Bidding Processes and Contracts Regulations)
- Revision of the Code of Ethics
- Integrity Program
- Integrity due diligence standard in underwriting securities
- Compliance Policy
2017
- Anti-Money Laundering and Terrorist Financing Policy
- Code of Conduct and Integrity
- The BNDES’s Bylaws are amended, formalizing ‘integrity’ as a responsibility of the Risk Management Area
- Guide of Anti-Money Laundering and Combating the Financing of Terrorism
- Internal Assessment Standard
2018
- Ethics and Integrity – 10 guidelines for the relationship with BNDESPCIN
- Guide of Conduct for BNDES’s service providers
- Resolution of Reinforced Due Diligence Procedures
- Integrity background checks standard
- Adherence to the Global Foreign Exchange Code
- Compliance Program
2020
- Corporate Integrity Policy – PCIN
- Creation of the Office of Internal Affairs
2021
- Change in BNDES Bylaws
- Regulation of Bidding and Contracts
Last update: August 24, 2021