At a press conference held today at the Economic Chamber of North Macedonia, Nikola Joshevski, President of the Group of Non-Bank Financial Companies, formally presented the Group’s new Code of Ethics.

The Code serves as a collection of values, principles, and best practices for the operations of financial companies that are signatories to the Code. It is fully aligned with legal regulations and builds upon them, establishing minimum standards of conduct for financial companies through its implementation and observance.

The primary goal of the Code of Ethics is to enhance the operations of financial companies and improve the customer experience for their clients. It also aims to promote greater social responsibility within the sector and strengthen the relationship between financial companies and consumers — the users of their services.

The core values and principles enshrined in the Code include transparency, integrity, professionalism, confidentiality, and accountability. For financial companies, adherence to the Code’s provisions will mean raising operational standards and prioritizing the best interests of their clients. For customers, it ensures access to clear, publicly available, and easily understandable information about the products and services offered by financial companies, as well as clear and unambiguous advertising.

During the event, the financial companies that are members of the Group signed the Code of Ethics, thereby formally committing to the adoption and implementation of its principles and values.

The practical enforcement of the Code will be overseen by the Group’s Ethics Code Implementation Commission. In cases of non-compliance, the Commission will assess whether the company in question remains eligible for membership in the Group, which currently includes 22 of the 27 financial companies licensed by the Ministry of Finance.

The Group’s member companies, operating under the umbrella of the Economic Chamber, continue to work consistently toward improving the environment for responsible lending, enhancing customer protection, improving market business conditions, aligning with global standards, and increasing the visibility and reputation of non-bank financial institutions. The adoption of the Code of Ethics follows the Group’s recent Financial Education Campaign focused on the protection of personal data.