Code of Banking Conduct
By establishing a Code of Conduct, banks aim at promoting good banking practice standards. The law was drafted in accordance with the provisions of the relevant EU legislation and national banking regulations. The main objective of the Code is to encourage transparency and strengthen mutual trust among banks and their customers. The Banking Code lays down rules and practices for the fair and reasonable dealings between banks and customers and aims at improving the quality of products and services.
The Code is being reviewed regularly according to international and local amendments in the banking and financial sector. The Code applies only to natural persons and was first implemented on 01.01.2002. The Code has been amended and simplified in December 2008.