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Social Responsibility SOCIAL RESPONSIBILITY 2015 CONTENTS INTRODUCTORY WORD BY THE GOVERNOR 2 ABOUT THE NATIONAL BANK OF SERBIA 4 Objectives and functions 4 Code of professional conduct 6 Public relations 6 RESPONSIBILITY TO EMPLOYEES 8 Employee structure 8 Education, professional development and training 9 Occupational health and safety 10 Internal communication 11 RESPONSIBILITY TO THE COMMUNITY 12 Protection and education of financial services consumers 12 Exhibitions and educational activities 14 Humanitarian and voluntary campaigns 17 Donations 18 United Nations Global Compact membership 18 RESPONSIBILITY TO THE ENVIRONMENT 20 Preserving natural resources at the head office and branches 20 Reducing harmful effects on the environment 21 AWARDS 24 Voluntarism and solidarity of employees 24 Participation in the action “Bottle Cap for Handicap” 25 CONTENTS INTRODUCTORY WORD BY THE GOVERNOR 2 ABOUT THE NATIONAL BANK OF SERBIA 4 Objectives and functions 4 Code of professional conduct 6 Public relations 6 RESPONSIBILITY TO EMPLOYEES 8 Employee structure 8 Education, professional development and training 9 Occupational health and safety 10 Internal communication 11 RESPONSIBILITY TO THE COMMUNITY 12 Protection and education of financial services consumers 12 Exhibitions and educational activities 14 Humanitarian and voluntary campaigns 17 Donations 18 United Nations Global Compact membership 18 RESPONSIBILITY TO THE ENVIRONMENT 20 Preserving natural resources at the head office and branches 20 Reducing harmful effects on the environment 21 AWARDS 24 Voluntarism and solidarity of employees 24 Participation in the action “Bottle Cap for Handicap” 25 INTRODUCTORY WORD BY THE GOVERNOR erving in the interest of all Serbian citizens and being accountable to them, with its professional and transparent Soperation the National Bank of Serbia contributes to the enhancement of trust and strengthening of a credible dialogue with all stakeholders, while at the same time aiming to achieve its statutory objectives. Building a credible dialogue in a vibrant business environment is possible only by understanding complex relations between the business world and society, which entails a focus on the well- being of the community at large in a decision-making process. Such approach enables us to place socially responsible operation at the very top of our priorities. The achievements of our institution can be summed up as follows – low and stable inflation, historically low interest rates, anchored inflation expectations, a relatively stable exchange rate, a stable and resilient financial system, rising investment loans, enhanced trust in the local currency, along with stepped- dedication to the social responsibility concept, which has always imply an obligation. That is why we will persevere in our work, up dinar household borrowing and an increase in dinar savings. implied a focus on and creation of real values. with even more dedication and confidence. This is not our assessment only – it has been confirmed by credit We inherited such dedication – it is part of our tradition and our In the context of social responsibility, it is noteworthy that the agencies and relevant international institutions. We delivered organisational culture. In 2015, the National Bank of Serbia National Bank of Serbia is one of the founders of and an active these results braving the challenges from the international implemented a number of humanitarian activities, showing a participant in the United Nations Global Compact in Serbia. It environment and the international financial market, always high degree of social responsibility and sensitivity to the needs upholds the Global Compact Ten Principles, which pertain to the bearing in mind a clear picture of the long-term effect of our of the most vulnerable social groups. protection of human and labour rights, environmental protection objectives on Serbian citizens. and fight against corruption. Not only does such an initiative Smiles, embraces, an extended hand and a warm word, the One of our principal objectives – price stability, was achieved. help promote and develop the social responsibility concept, but feeling that you have done a lot with only a little effort – these are Low and stable inflation that Serbia has been experiencing for it also gives a chance to business entities to learn from other the results that cannot be measured and reflected in reports and more than three years, is key to maintaining the real value of people's experiences, exchange good practices, create tables. Nevertheless, such results are the outcome of each of our wages and pensions, and creating predictable terms of operation. partnerships and implement joint projects. volunteer and humanitarian activity and are often the most Given that our economy is small, open and euroised, the important ones. We take pride in them and will continue to aspire We shall strive to do even better in the period ahead, readily exchange rate is an important lever for financial stability and to them. embracing all challenges that we may encounter as it is only predictability of operation. Therefore, preserving the relative through mutual respect, cooperation and selfless commitment stability of the exchange rate helps strengthen the business and The results that the National Bank of Serbia achieved over the that we can create the preconditions for a better society. investment environment, and results in higher investments and a last year in the field of social responsibility were recognised by lower country risk premium. Our commitment to stability – price the professional public and the media alike, as it is with them that Governor and financial stability, and relative stability of the exchange rate we constantly cooperate in order to improve our activities in this – has no alternative. domain. Our efforts were thus positively assessed and recognised by the wider public, confirming our belief that Furthermore, by continuously reducing the key policy rate, we employees of the National Bank of Serbia are the best Jorgovanka Tabaković, PhD created room for the recovery of credit activity and further ambassadors of social responsibility. economic growth. Today, corporates, households and the government have dinar loans with interest rates that are at their Our achievements are also reflected in the social responsibility lowest since the introduction of the inflation targeting regime. award “My Choice” – granted in 2015 for volunteer work and We thus made great savings for corporates, citizens and the employee solidarity by the “My Serbia” association, with the government. support of the Belgrade Chamber of Commerce and the City of Belgrade. As much as we appreciate such awards, they also Employees at the National Bank of Serbia strive to improve their expertise and professionalism, while at the same time fostering 3 INTRODUCTORY WORD BY THE GOVERNOR erving in the interest of all Serbian citizens and being accountable to them, with its professional and transparent Soperation the National Bank of Serbia contributes to the enhancement of trust and strengthening of a credible dialogue with all stakeholders, while at the same time aiming to achieve its statutory objectives. Building a credible dialogue in a vibrant business environment is possible only by understanding complex relations between the business world and society, which entails a focus on the well- being of the community at large in a decision-making process. Such approach enables us to place socially responsible operation at the very top of our priorities. The achievements of our institution can be summed up as follows – low and stable inflation, historically low interest rates, anchored inflation expectations, a relatively stable exchange rate, a stable and resilient financial system, rising investment loans, enhanced trust in the local currency, along with stepped- dedication to the social responsibility concept, which has always imply an obligation. That is why we will persevere in our work, up dinar household borrowing and an increase in dinar savings. implied a focus on and creation of real values. with even more dedication and confidence. This is not our assessment only – it has been confirmed by credit We inherited such dedication – it is part of our tradition and our In the context of social responsibility, it is noteworthy that the agencies and relevant international institutions. We delivered organisational culture. In 2015, the National Bank of Serbia National Bank of Serbia is one of the founders of and an active these results braving the challenges from the international implemented a number of humanitarian activities, showing a participant in the United Nations Global Compact in Serbia. It environment and the international financial market, always high degree of social responsibility and sensitivity to the needs upholds the Global Compact Ten Principles, which pertain to the bearing in mind a clear picture of the long-term effect of our of the most vulnerable social groups. protection of human and labour rights, environmental protection objectives on Serbian citizens. and fight against corruption. Not only does such an initiative Smiles, embraces, an extended hand and a warm word, the One of our principal objectives – price stability, was achieved. help promote and develop the social responsibility concept, but feeling that you have done a lot with only a little effort – these are Low and stable inflation that Serbia has been experiencing for it also gives a chance to business entities to learn from other
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