A brief Business conduct Guidelines has been enumerated under this Code of Conduct which is known as ‘IOL CoC’.
Vision and Values Statements
Vision
Being a gas manufacturer, Islam Oxygen is fully committed and dedicated to deliver its product and services to the valued customers with an outmost flexibility, competitive and fair pricing strategy.
Values
We are responsible for Society Integrity Safety Sustainability Ethics’ SISSE and strive for leadership with a higher standards of accountability execution. The Core Values SISSE elucidates:
i. Society
ii. Integrity
iii. Safety
iv. Sustainability and
v. Ethics
Leadership Principles
Islam Oxygen Limited’ is a visionary, value driven and trusted Oxygen manufacturer in Bangladesh for its outmost Flexibility, Fair pricing and Just in time delivery to the customer as a whole. Thus, IOL earned a huge credence and confident to run its business aligning with the following fundamental Leadership Principles;
i. Drive Confidently and Act Ethically.
ii. Think Accurately and Execute Timely.
iii. Seek Excellence and Expedite Processes.
iv. Anticipate Challenges and See the Perfection.
v. Business Sustainability and Continuous Improvement.
Corporate Leadership Teams CTLTs are directed to adhere with the principles to make the business & process Profitable, Faster and Easier.
Guiding Principles
Islam Oxygen Limited’ believes in the Best and practices Integrity, Honesty, Fair Dealing, and respects Compliances from all aspect of Laws and Regulations of the country in its operations with optimum application of its values devoted to the customers and stakeholders. The Front Line Leaders and Employees as a whole are committed to hold a higher degree of ethical standard considering the responsibilities, communications and dealing with due care and attention followed by the company’s elementary Guiding Principles;
i. Foster Integrity
ii. Execute Accountability
iii. Deliver Responsibility
iv. Perform Efficiently
v. Decide Impartially
These Guiding Principles are the core values to sustain an ethical and congenial work environment with fame and reputation to make IOL as a ‘Great Place’ to work.
Scope
The Audit Committee of the Board of Directors of Islam Oxygen Limited has adopted the following Code of Conduct to apply to Islam Oxygen Limited workers, officers, managers and above if it is especially not defined the power and position to get exemption from the Board of Director BOD’s; specifically called as an ‘Employee’. This Code is intended to direct workers, employees, officers, managers and above in the areas of ethical risk, provide guidance to help them recognize and deal with ethical issues, provide mechanisms to report unethical conduct, foster a culture of honesty and accountability, deter unethical behavior and promote fair and accurate disclosure of financial reporting.
This IOLCoC is intended to serve as a source of guiding principles for anticipated and avoided circumstances. The IOLCoC summarizes standards of business conduct and ethics that sketches the key issues and ethical standards adhere to all employees during the course of employment. This Code specifies and assists to build ethical trade and corporate governance principles by establishing a certain non-negotiable minimum standards of behavior at the work place. Employee should seek guidance when they are in doubt about the proper course of action in a given situation, as it is the ultimate responsibility of each employee to “raise their voices”.
Applications
The IOL CoC applies to all employees of the Islam Oxygen Limited and controlled entities. For the purposes of this Code, “Company” refers to the Islam Oxygen Limited and controlled entities refers Sales Center and Depots. Any employee of the company or entities who knows of, or suspects, a violation of this Code, or has any questions regarding this Code or its application to a particular situation, should discuss these concerns with his or her immediate supervisor, or with the Head of Human Resources or to any other manager designated for handling such matters. This code may be amended from time to time by the Company.
Violation of any of the Code’s provisions could result in disciplinary action including separation of their job according to the provisions prescribed under the Bangladesh Labor Ac 2006 (Amendment 2018). No individual is expected to be discriminated against or suffer and retaliates for reporting in good faith violations or suspected violations of this Code or the law of the country.
Legal Compliances
Employees of the Company are suggested to be aware of and conduct themselves in accordance with the law of the country and policy of the company within the permissible jurisdictions to operate and make best efforts NOT to voluntarily violate or breach of any provision of such laws to achieve any objectives that are impliedly and expressly corralled to the company’s interests.
In addition to the laws and statutes respective to the jurisdictions, Employees are also guided to be fully aware of, know and follow workplace policies, procedures and rules of conduct issued by the Company from time to time.
Conflict of Interest
Employee of the Company as a whole are supervised to conduct their individual affairs with business in a manner that neither a conflict nor the appearance of a conflict arises between those interests of the Company as prescribed in the Conflict on Interest policy to ensure that they don’t create actual, or the appearance of, conflicts of interest for others in their professional dealings.
Company does not allow any secondary employment or business or consultancy or freelancing or any affairs resembled, during the full time employment which implies that employees on the rolls of the Company cannot work for any other employer (either part or full time) unless specifically permitted or directed by BoD’s.
Employees on their rolls with the Company neither shall compete with the Company nor does all they take personal advantage of business opportunities during the course of their employment unless the BOD’s expressly waive its interest in pursuing such opportunities to permitted on abiding by the terms and conditions of the employment contract according to the provisions of the Bangladesh Labor Act and Labor Rules.
Customer Relations
Islam Oxygen Limited is committed to its valued customer and there is framed to policy to develop and foster a fair, sustainable and win-win relationship with its customer’s on an arm’s length to show an outmost respect to the customers’ needs and satisfactions with flexibility and reliability.
Suppliers and Stakeholders Relations
Islam Oxygen Limited has a transparent policy to deal its suppliers and stakeholders in such a congenial manner that creates and maintains a trust based on the objectivity, integrity and honesty. The procurement decisions are taken on Quality, Service, competitive Price and reputations. Employees are not allowed to obligate themselves (or members of his or her family) to be (other than in the course of normal banking relationships) to any organization or individual to whom the Company does business. They have to deal supplier and stakeholder with legitimate business practices in commercial operations and governmental authorities. “kickbacks” or “bribes” intended to induce or reward favorable buying decisions and auctions are unacceptable and restricted.
Islam Oxygen Limited encourages its regular suppliers, vendors and stakeholders to provide a declaration of fair and ethical business practices adopted in their dealing and keep a record of such declarations.
Accounting and Controls
Employees of Islam Oxygen are advised to adhere to the Record Keeping Policy to preserves its operational history for future references and compliances and maintain financial & non-financial books, statements, records and accounts which is reasonable detail, accurately and fairly reflect all transactions, acquisitions and dispositions of assets and other activities the Company is involved with in its day-to-day operations.
Those are engaged in or responsible for maintaining such books and records to be aware that all books, records and accounts should conform to generally accepted and applicable accounting principles are relevant by laws, regulations and Standard Operating Procedures SOP of the Company. The preparation and maintenance of accurate and adequate records is the responsibility of each employee extends to all internal and external records, reports and correspondence are sign only documents or records which they believe to be accurate and truthful.
No employee is to withhold or conceal information requested by, or to furnish misleading information to, the internal auditors, independent auditors, Directors of the Company or to any others authorized by Company to receive it.
Confidential Information
Sustainable growth and continued success of Islam Oxygen Limited depends on the use of its proprietary confidential information and nondisclosure to the third parties. Confidential information comprises any information that is not or not yet public information. It includes trade secrets, business, marketing and service plans, consumer insights, engineering and manufacturing ideas, product process and designs, databases, records, salary information and any non-published financial or other data.
Unless required by Legal Authority or authorized by the Company, employees shall have duty of care NOT to disclose confidential information of the Company or allow such disclosure. This obligation continues beyond the separation of employment. Similarly, employees shall protect confidential information for their prior employment where they must use best efforts to avoid unintentional disclosure by applying special care when storing or transmitting confidential information.
Islam Oxygen Limited respects that third parties to have a similar interest in protecting their confidential information. In case those third parties i.e joint venture partners, suppliers or customers, share with the company confidential information, such information shall be treated with the same care as if it was the company’s confidential information.
Workplace conduct
Employees of the Islam Oxygen Limited to maintain a high degree of professionalism, objectivity, fairness, courtesy and sensitivity in their dealings with peers, subordinates and superiors in order to meet the commitment to provide a safe and non-discriminatory working environment for all employees are to be cognizant of safety and security needs, policies and regulations. The safety and security of employees, their fellow coworkers or any other persons on the Company’s premises shall take precedence in discharging work related responsibilities by employees to make sure that they are fit and able to perform their assigned duties when they report for work.
Liqueurs Drugs, Narcotics, Smoking and identical substances keeping, bearing and consuming are strictly prohibited at Islam Oxygen Limited that leads separation of service of the concern employee, bearer or consumer or whoever may use, sale, possession, manufacture, dispense or distributes or controls.
The appropriate authority of the company retains the right to search property, as well as the employee’s person and personal possessions at any time. The particular holder(s) with Seized and prohibited substances will be confiscated and handover to Law enforcing authorities.
To foster the best corporate culture, employees are advice NOT to engage in any bullying, threatening or intimidating harassment including sexual harassment of their co-workers. The unintended viewing, and any transmission of pornographic material or any other material that could reputational damage to the Company is a very serious offence which risks summary dismissal and discourages workplace violence or inappropriate behavior including physical assault, battery and any act which inflicts bodily harm by an employee on other co-worker or person inside the Company premises and facilities.
Equal opportunities of Employment
Subject to the requirements, Islam Oxygen Limited provides an equal employment opportunity to all promising candidates’ to work, grow, perform and succeed to contribute to the Company’s success to be a dominant market leader. The skilled resources and congenial work environment that is inclusive from aspects of its business with a cultural differences.
Therefore, the Company offers equal employment and advancement opportunity to all qualified individuals without distinction or discrimination on grounds of age, color, national origin, race, religion, gender, disability. This principle applies to all employees and applicants for employment and to all aspects of the employment relationship.
Insider Trading
Islam Oxygen Limited prohibits the dealing (i.e. purchase and sale) of listed shares or securities of the Company or its subsidiaries by the employees on the basis of potentially share price relevant information which is not yet public. All the Employees are expected to be aware of the Security Exchange ordinance, regulations and declarations required prior to dealing in shares or securities of the Company in the jurisdiction of listing of such securities and the rules and procedures of the Company.
Environmental Sustainability
Islam Oxygen Limited is commitment to a sustainable business development considering the environmental issues, requirements and environmental policy which include but without limitations, laws and regulations with reference to emissions, environmental impacts and stipulated environmental characteristics of inputs and outputs and methods used in the business processes of the Company.
Corporate Social Responsibility
Islam Oxygen Limited has an earnest commitment to the civil society to be a sociable corporates & responsible neighbor of the communities and participates as a contributor to the Community, Society, Government, Professionals and Charitable Institutions to render a social value for the community development. In that case, employee may participates voluntarily as a contributor but not as a representative of the Company unless or specifically authorized by the Company which may not consider an explicit or implied conflict of interest.
Disclaimer:
This IOL CoC is the abridged version for publication only without any prejudice. The management of the company deserves right to annex, amend, alter, delete any of its clause (s) for further development and application in the public communication or company’s internal purposes.