General

FCIL shall acquire and maintain membership of such association(s) which have been constituted in consultation with the Commission and abide by the code of conduct prescribed by the said association(s).

Preamble

Every Company employee receives a personal copy of our statement of ethics and business practices at the time of employment. This is the statement to which the Company is committed. Maintaining the highest standards of conduct and ethical behavior is morally right and legally required and requires the personal commitment of every director and employee.

This statement of ethics and business practices is a guide to the ethical conduct for directors and employees of the Company. The statement also aims at informing the public of the principles to which the Company’s employees subscribe. The statement further signifies that director and employees shall abide by proper and legal business practices, and perform under a standard of professional behavior that adheres to high principles of ethical conduct on behalf of the public, clients, employees etc.

Policy Statement

It is the policy of the Company to follow the highest business ethics and standards of conduct. It is the obligation of every employee to be a responsible employee: that is to be honest trustworthy conscientious, and dedicated to the highest standards of ethical business practices.

Responsibilities to the Shareholders of the Company

A primary obligation of directors and employees is to serve the shareholders’ interest. While the definition of the shareholders’ interest changes through ongoing debate, an employee owes faithfulness to a responsibly derived concept of the shareholders’ interest.

The Director’ Responsibilities to Employees

As an employer, the Board of Directors has certain responsibilities to its employees, and shall strive to:

1) Comply with all applicable employment/labor laws and regulations.

2) Provide a safe work environment in compliance with all-applicable laws and regulations.

3) Appropriately acknowledge work performed by employees.

4) Provide opportunities for the professional growth and development of employees.

5) Develop clear lines of communication between employer and employee, and provide employees with a clear understanding of their responsibilities.

6) Consistently maintain fair, equitable, and professional conduct toward its employees.

Responsibilities of Employees to the Company

1. Employees shall conduct their employment activities with the highest principles of honesty, integrity, truthfulness and honor. To this end, employees are to avoid not only impropriety, but also the appearance of impropriety.
2. Employees have a legal, moral and ethical responsibility to report to the Company, or the appropriate authorities, known or suspected violations of law, regulations, or corporate policy, including the Company’s standards of conduct.
3. Employees shall not make, recommend, or cause to be taken any action known or believed to be in violation of any law, regulation or corporate policy.
4. Employees shall not make, recommend, or cause to be made any expenditure of funds known or believed to be in violation of any law, regulation or corporate policy.
5. Employees shall not use their position in employment to force, induce, coerce, harass, intimidate, or in any manner influence any person, including subordinates, to provide any favor gift or benefit whether financial or otherwise, to themselves of others.
6. In business dealings with government entities, whether Pakistan or foreign, employees shall not provide or offer to provide, any gratuity, favor or other benefit to government employees, or engage in any other activity which could improperly influencing, their decisions or activities. All such activities with the governmental agencies shall be conducted strictly on an arm’s length, basis.
7. Employees representing the Company to third parties shall not allow themselves to be placed in a position in which actual or apparent conflicts of interest exists. Such conflicts of interest may arise appear to arise or appear to arise, by reason of the employees’ acceptance of gratuities, favors or other valuable benefits which could improperly influence or reasonably be interpreted as improperly influencing sound business decisions. All such activities shall be conducted strictly on an arm’s length, business basis.
8. Employees will exercise great care in situations in which a pre-existing personal relationship exists between an employee and an industry representative or government employee or official of an agency with whom the Company has an existing or potential business relationship. In such a situation the employee shall immediately report the relationship to management and pending further direction by the Company, the employee shall take no further action associated with the business in which the personal relationship exists. Where there is any doubt as to the propriety of the relationship, the employee shall report the relationship to management so as to avoid even the appearance of impropriety.
9. Employees shall not engage in outside business activities, either directly or indirectly, with a client vendor, supplier or agent of the Company, or engage in business activities, which are inconsistent with or contrary to the business activities of the Company.
10. Employees shall not use or disclose the Company’s business secrets, proprietary or confidential information, or any other confidential information gained in the performance of Company duties as a means of making private profit, gain or benefit.

Summary

The Company’s reputation and its actions as a legal entity depend on the conduct of its directors and employees. Each director and employee must commit to act according to the highest ethical standards and to know and abide by applicable laws. Each must assure that their personal conduct is above reproach and complies with the highest standards of conduct and business ethics difficult as it may be at times. Also each have an obligation to assure that the conduct of those who work around them complies with these standards. The Company’s code of business ethics and standards of conduct will be enforced at all levels fairly and without prejudice.