Corporate Governance


Last updated on 20 January 2021


As a regional financial services group, Maybank believes strongly in sustainable procurement, which is defined as: “a process whereby organisations meet their needs for goods, services, works and utilities in a way that achieves value for money not only for the organisation, but also towards society and the economy, whilst minimising damage to the environment.”

Supplier Code of Conduct

Maybank Group’s Code of Conduct for Suppliers (“the Code”) sets the expectation of Maybank Group on all suppliers to conduct business in a lawful and ethical manner.

Applicability of the Code
The Code is applicable to all suppliers and their employees, agents and sub-contractors. 

Compliance of the Code
It is mandatory for all suppliers to comply with the Code of Conduct as a condition of doing business with Maybank Group. Failure to comply is viewed seriously by Maybank Group and is a sufficient cause for termination of past relationships with the supplier. Because Maybank Group is committed to ensure that its business dealings with external parties are conducted in the highest standards of integrity, compliance to the Code is imperative to foster a sound and professional business relationship. 

Obligations and Standards Required from Suppliers

  • Maintain the highest standards of integrity and professionalism during the performance of the contract.
  • Compliance with applicable State or Federal laws, regulations or policies that govern the contract.
  • Shall not directly or indirectly engage in any form of corrupt practice including extortion, fraud , bribery or offer anything of value (entertainment or gifts) to any employee of Maybank Group for the purpose of obtaining undue and improper advantage or influencing decision making in violation of the Law.
  • Disclose any situation that may appear as a conflict of interest especially when an employee of Maybank Group may have an interest of any kind in the Supplier’s business or any kind of economic ties with the Supplier.
  • Maintain and safeguard confidentiality of information (either company or customer-related) obtained during the performance of the contract.
  • Accurately disclose information regarding business activities, structure, financial situation and performance in accordance with applicable laws and regulations.

Note: This Code of Conduct is not a contract. It does not confer rights on any supplier nor does it impose obligations on Maybank Group. In case of conflict between the Code and the main contract of performance, the terms of the contract shall prevail.

Procurement Sustainability

Our Commitment
Maybank is committed to world-class procurement practices and securing significant savings through strategic initiatives and collaboration with stakeholders. Our procurement policy supports the Group strategic, business and financial objectives. We continue to achieve maximum effectiveness on procurement which results in a positive impact on our cost to income ratio. 

Ethical Supply Chain Management
Maybank is committed to working with key suppliers to contribute to the goal of continual improvement in environmental, social; and ethical performances. We assess our suppliers on these issues and expect strict implementation of management systems which indirectly influence its supply chain process. All suppliers must comply with the Company’s declaration of conflicts of interest. Employees must adhere to Maybank’s Code of Ethics and Conduct. Any approach by a supplier that goes beyond the bounds of courtesy is reported to the respective Regional or Sector Heads. Maybank does not engage with suppliers who have faced any type of human rights violations. 

Protection of Information
We are committed to protecting confidential information, intellectual property and strategies that may cause a negative impact to any party. Thus, confidential information is only sought from suppliers when necessary and this information is not disclosed without the supplier’s prior written consent. Our procurement policy sets the following guidelines on information handling including:

There should be no releases of any spend data or contract specific information including supplier names or pricing, except as necessary at an aggregate commodity level for supplier negotiation purposes or as required by law. Under no circumstances is any Maybank employee to release supplier pricing to another supplier or third party. Release of supplier names may only be made with supplier approval in conjunction with providing sourcing or reference information for specified parts or qualified suppliers.

There should be no release of information or comments on any commercial or strategic planning aspects of Maybank’s relationship with any supplier.

In all instances where Maybank’s confidential information is to be disclosed to a supplier or other external party, it is mandatory to execute a non-disclosure agreement in order to protect Maybank and its customers’ information and interests. 

Our Relationship with Suppliers and Vendors
Maybank manages risks related to supply chain through its Group Procurement Policy and Code of Ethics and Conduct. All suppliers must maintain the highest standard of integrity in their performance. This policy details conflict of interests among parties, fair dealing and best practice standards of any subcontractors. Breaching this provision leads to the termination of the agreement.

Our contract and performance management requires amendments to be authorised and agreed by both parties involved in the agreements. The business units (contract owners) are responsible for the day-to-day operations with suppliers.

The Strategic Procurement Category Managers are responsible for managing the interaction between commercial user and suppliers. Users communicate their requests to the Strategic Procurement Sector who send this information to the suppliers. 

Compliance with Legal and Regulatory Policy
Maybank’s purchasing and sourcing activities are guided by Malaysian Law and the regulatory frameworks imposed on banks and GLCs in Malaysia. Offshore sourcing is conducted in a manner that is acceptable to the providing nation state and Malaysian Law.

Foreign Account Tax Compliance Act (FATCA) 2010

Foreign Account Tax Compliance Act (FATCA) 2010 is a legislation to help counter tax evasion in the United States (U.S).

FATCA creates a new information reporting and withholding regime for payments made to certain foreign financial institutions and other foreign entities.

FATCA came into effect on 1 July 2014.

Maybank Group is committed to be FATCA compliant in all countries that we operate.

Foreign Account Tax Compliance Act 2010 (FATCA) Frequently Asked Questions
For more information about how FATCA impacts you, please click here.

Where to Report Fraud & Corruption

The Maybank Group values its reputation as an organisation that maintains and practices integrity in all aspects of our operations. We are committed in ensuring that fraud does not impact our customers, suppliers, business partners or employees. 

Confidentiality and Anonymity
Maybank Group assures that no person is victimised, harassed or otherwise unfairly for raising such concerns, and that any such victimisation, harassment or unfair treatment will be treated as a serious misconduct resulting in disciplinary action. To maintain the effectiveness of the Hotline, we have ensured the security of confidential information relayed via the Hotline. As such, in the above structure, complaints/concerns to the Hotline are only via secured forms of communication.

To report a concern on potential Fraud & Corruption, please contact:

1-800-38-8833 (Toll-Free for Local)
603-20268112 (Overseas) 


P.O. Box 11635, 50752
Kuala Lumpur, Malaysia