Stakeholder Engagement

Stakeholder Engagement Strategy

KBZ Group’s vision is to be a national, regional and international success through its broad range of diversified companies. In order to achieve this it it essential for all parts of the Group to work in close collaboration with, and in support of, our multiple stakeholders.

Key to our achievement of this vision is the need to engage in an ongoing dialogue, to deepen our understanding of what our stakeholders expect of us, and to communicate with them on how we are responding to their priorities, needs and concerns.

The KBZ Group Stakeholder Engagement Framework sets out how we do this – including how we identify and prioritise our stakeholders, the mechanisms we use for engagement, how we ensure that our stakeholders are able to engage with us in a meaningful way, and how we communicate with our stakeholders on a regular basis on our performance in meeting their needs.

Identifying our stakeholders

We carry out a stakeholder mapping process at Senior executive level across the Group on an annual basis or more frequently if deemed necessary. KBZ Group company stakeholders will typically include the following categories:

  • Staff
  • Local Communities
  • Customers
  • Local Government
  • National Government
  • Regional/Global interests
  • Shareholders
  • Partners
  • Suppliers/Contractors/Consultants
  • Trade Unions
  • Ethnic Groups
  • Civil Society Groups
  • Regulators
  • International institutions
  • Lobby Groups
  • Media (local and international)

Methods of engagement

Our methods of engagement with all stakeholders is generally applicable to all. We make proactive contact regularly as appropriate and offer multiple channels by which stakeholders can voice any issues of concern.

The means of communicating with our stakeholders include meetings, telephone calls, emails or other means of social media, written letters, through briefings, questionnaires and surveys and focus groups. We maintain ongoing tracking and analysis of feedback and complaints to ensure we continue to maintain and improve our standards of performance. We regularly monitor multiple media outlets to ensure we are aware of issues and can take appropriate action accordingly where necessary.

For our staff, we carry out annual Group Communications Surveys, annual Community Engagement Surveys and other Foundation surveys. We carry out Leadership Summits, and have regular team meetings. We have a collaboration with Switzerland-based EDGE Strategy, a third party company, which recently conducted survey of gender equality inside KBZ Bank. Any issues of concern are raised at our Annual General Meetings or more promptly where necessary.

With all our suppliers, we conduct initial and ongoing risk assessments and commit them to abide by our policies and Code of Conduct. We require the completion of commitment to this on signing contracts along with completion of questionnaires (at commencement and on a three yearlybasis). We hold supplier forums and ongoing meetings with individual suppliers as necessary;

With the broader community we engage in an ongoing dialogue with community partners With Government and regulators, we attend industry forums, arrange senior level meetings, carry out policy trend analysis, send submissions submissions when appropriate, and review reform proposals on a regular basis.

Measuring the success of stakeholder engagement

At a Group-wide level, the success of our stakeholder engagement is monitored based on reputational risk (which arises where there are differences between stakeholders’ current and emerging perceptions, beliefs and expectations relative to our current planned activities, performance and behaviours) using a range of indicators.

Stakeholder Mapping

Our stakeholders our our lifeblood and the purpose of our existence. In previous years we have regularly put efforts into identifying and recognising each and all of our stakeholders. This year, in line with international frameworks and in consultation with the Myanmar Centre for Responsible Business, we have developed a stakeholder matrix that represents our understanding of the interests of our stakeholders alongside their impact on our businesses.



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