MODERN SLAVERY ACT STATEMENT
ARAB NATIONAL BANK – LONDON BRANCH
This statement is made under section 54 of the Modern Slavery Act 2015 (the Act) and sets out our commitment at Arab National Bank, London Branch (‘’ANBLB’’) to prohibit and ensure that slavery and human trafficking does not occur anywhere in our supply chain or in any part of our business.
Organisational structure and business
ANBLB is the UK Branch of a Bank headquartered in Riyadh, Kingdom of Saudi Arabia and provides banking and financial services to our clients. Most of our business has primary links to business in Saudi Arabia, in the following areas:
- Corporate Banking
- Private Banking
- Trade Finance
As a financial services provider ANBLB has a relatively simple supply chain. Our key suppliers include
those providing goods and services in relation to facilities management, professional consultancy,
market data, IT and telecommunications.
Policies and controls
ANBLB is committed to acting ethically and with integrity in all our business relationships and we
expect our suppliers to share those values. ANBLB is fully supportive of the principles underlying the
Act and will not knowingly support or do business with any suppliers who are involved in slavery or
human trafficking. ANBLB assesses various internal policies and controls to identify those which may be relevant to assist in the prevention, detection, management and reporting of slavery and human trafficking in our supply chain and across our business. These include policies or controls relating to:
- AML and other Financial Crime policies including parts in relation to High Risk or unacceptable customers as well as High Risk Countries and Industry Sectors
- Anti-corruption and Bribery Policy
- Supplier/third party management
ANBLB generally does not consider there is a high risk of slavery or human trafficking occurring in our
supply chain. We therefore operate a risk-based approach to review suppliers who may carry a
higher risk in this respect.
ANBLB assess our effectiveness in relation to the steps taken to help ensure that slavery and human trafficking is not taking place in our business or supply chain:
- Risk-based checking for relevant provisions in our contracts with suppliers
- Monitoring relevant reporting through our Whistleblowing Policy
- Tracking enhancements to relevant policies and procedures as part of any review cycle
- Risk-based compliance monitoring of adherence to relevant policies and procedures,
- including supplier due diligence procedures
ANBLB recognises the importance of raising awareness in this area and we added this to our induction process so staff are aware to the issues around slavery and trafficking and the provisions of the
Act. Ongoing training and awareness on this topic will continue on a risk based approach.
This statement has been reviewed by the senior management of Arab National Bank, London Branch and agreed with the Bank’s Head Office in Riyadh, Kingdom of Saudi Arabia.
This has been ‘signed’ on behalf of Arab National Bank, London Branch, based on its financial year-end on 31st December 2018, by
30th May 2019