Development Bank of Mongolia to implement ISO 37001 anti-bribery management system
DBM inked a memorandum of cooperation with ISO Mongolia LLC to implement the MNS ISO 37001:2017 anti-bribery management system.
The Development Bank of Mongolia (DBM) inked a memorandum of cooperation with ISO Mongolia LLC to implement the MNS ISO 37001:2017 anti-bribery management system. The ISO 37001 is a management system developed by the International Organization for Standardization (ISO). More specifically, it is an anti-bribery management system that includes measures designed to help organizations prevent, detect and address bribery. These include adopting an anti-bribery policy, appointing a person to oversee anti-bribery compliance, training, risk assessments and due diligence on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures. With the introduction of the new ISO standard, DBM becomes the first organization in Mongolia to implement the standard. The bank’s officials believe that the standard will decrease risk of corruption, contribute in improving Mongolia’s corruption index, and act as an advantage moving forward. DBM stressed how important improving the workplace culture is in combating corruption.
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