VakıfBank aims to create a respectable business environment to human rights within the scope of sustainable banking understanding and to raise awareness and consciousness of its employees, customers, suppliers, partners and shareholders by extending this understanding. The Bank is committed to respecting human rights in accordance with internationally accepted standards.
As VakıfBank, we embrace respect for human rights as a fundamental value and systematically implement this approach across all our areas of activity. We have a comprehensive human rights due diligence process to identify, prevent, mitigate, monitor, and report human rights risks. This process is periodically reviewed to cover not only our current operations but also our entire value chain.
VakıfBank’s approach to respecting human rights is shaped not only in compliance with national legislation but also within the framework of the following international standards and guiding principles:
United Nations Guiding Principles on Business and Human Rights (UNGPs)
OECD Guidelines for Multinational Enterprises
International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work (including Core Labour Standards)
United Nations Global Compact
VakıfBank implements practices in line with its human rights policy, covering its own operations, employees, customers, suppliers, and all stakeholders across its value chain. The human rights due diligence process consists of four main stages: identifying and assessing risks, planning preventive and mitigating actions, continuous monitoring and evaluation, and direct engagement with vulnerable groups. In this context, the necessary processes are operated to ensure the early detection of adverse practices.
Customers
In line with our Human Rights Policy, we do not finance activities that are prohibited or restricted under national laws to which Türkiye is a party or under international agreements. Furthermore, we do not provide funding for the activities or projects of individuals or organizations found to employ child labor, engage in gender discrimination or violate human rights.
For the projects we finance, we assess whether issues such as occupational health and safety violations, human rights and ethical breaches and discrimination exist and we specifically monitor these issues during the due diligence conducted for each customer. Before lending, we conduct on-site visits to customer operations, develop action plans for any adverse situations identified and ensure the necessary follow-up. Based on these assessments, trainings on ethical behavior, prevention of harassment and discrimination and similar topics are provided to improve working conditions and enhance customers’ sustainability performance. In addition, as long as the loan risk persists, regular audit activities are carried out to monitor both the firm's ability to repay the loan and its legal compliance.
Our customers can also submit complaints and notifications regarding ethical matters via the Contact Us (Sorun Çözelim) and Ethics Hotline sections on our corporate website, our call center, internet and mobile applications, our branches and and the contact address of our Head Office. Reports received through the Ethics Hotline are examined based on their nature, and the reporting person is contacted as soon as possible and provided with updates on the process.
Employees
Through our existing policies and procedures, we prevent our employees from being exposed to risks such as discrimination, occupational health and safety breaches, and violations of ethical rules. To manage these risks effectively, we regularly update our policies and procedures, publish codes of ethical conduct, conduct regular training sessions on relevant topics, and collect regular feedback from employees via internal satisfaction surveys.
We keep all communication channels open, such as the Ethics Hotline and Inspection Whistleblowing Line, to ensure employees can reach the responsible authorities directly in case they encounter adverse situations. Reports are reviewed according to their nature and investigated by the Internal Audit Department if necessary. The reporting person is contacted as soon as possible, process updates are provided, personal data are protected and the confidentiality of the notification is maintained.
We share with employees the disciplinary measures that may be applied regarding adverse actions and secure the rights of all employees through collective labor agreements. Through our comprehensive policies, procedures and practices we support a culture where employees are not subject to differential treatment due to personal characteristics and adopt an inclusive approach in societal interactions. Our Harassment and Violence Procedure aims to maintain a respectful and trustworthy work environment free from pressure and violence, prevent all types of harassment and violence within the institution, and clearly define the roadmap to be followed in such cases.
Supply Chain
Within the framework of sustainable banking, VakıfBank aims to create a work environment that respects human rights and to increase the awareness and consciousness of employees, customers, and stakeholders. In this regard, suppliers are expected to comply with VakıfBank’s Human Rights Policy, Supplier Selection and Compliance Policy, as well as legal regulations and national legislation.
Suppliers are required to:
Respect universal human rights and prevent human rights violations; treat employees equally without discrimination based on gender, language, religion, race, ethnicity, age, pregnancy, marital status, union membership, political views or similar factors.
Provide a safe and suitable work conditions for all employees; act in line with the “zero accident” target in their operations.
Comply with Labor Law No. 4857 and relevant legislation and not employ child labor under legal provisions.
Take a stance against forced labor in accordance with ILO Convention No. 29 on Forced Labor.
Respect occupational health and safety rules, promote compliance and conduct relevant training to increase employee awareness.
Act in compliance with legislation regarding working conditions, wages, and working hours.
Respect employees’ freedom of association, particularly regarding collective labor agreements.
In the case of violations detected in our suppliers, cooperation is established to ensure compliance with legislation; if actions are found to be contrary to our Supplier Selection and Compliance Policy, business relationships are terminated.
Within this framework, risks such as child labor, forced labor, occupational health and safety violations and ethical breaches in the supply chain are monitored, and the rights of vulnerable groups, such as migrant workers and employees are protected. Regular supplier assessments are conducted during the monitoring process, and complaints submitted through the Ethics Hotline are evaluated confidentially.
VakıfBank is committed to understanding the views of all stakeholders affected through its operations and financial services and evaluating human rights risks accordingly. Thus, our human rights approach is shaped by international standards and best practices, based on a comprehensive and systematic policy and implementation process. This framework, which prioritizes respect for human rights across all current and new business relationships, is supported by the principles of sustainability and accountability. In order to reinforce these principles and standards, VakıfBank provides regular human rights training to its employees to ensure awareness and understanding of ethical principles, equal opportunities, and respect for all stakeholders.
