Resolution JPRFM-2026-019-A: Incorporation of Anti-Bribery and Anti-Corruption Policy for the Central Bank of Ecuador

RESOLUTION No. JPRFM-2026-019-A
THE FINANCIAL AND MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, paragraphs 8 and 11 of Article 83 of the Constitution of the Republic of Ecuador establish as duties and responsibilities of Ecuadorians: “8. To administer honestly and with strict adherence to the law public assets, as well as to report and combat acts of corruption”; and “11. To assume public functions as a service to the community and to account to society and the authority, in accordance with the law”;

That, the Constitution of the Republic of Ecuador, in Article 226, prescribes that public servants and persons acting by virtue of state power shall exercise only the competencies and faculties attributed to them in the Constitution and the Law;

That, Article 227 ibid states that Public Administration constitutes a service to the community governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, Article 233 of the Constitution of the Republic of Ecuador establishes the principle of responsibility of public servants for acts or omissions carried out in the exercise of their functions, who shall be held administratively, civilly, and criminally liable for the management of public funds, assets, and resources; it also determines sanctions for crimes against public administration related to acts of corruption, as well as disqualifications for holding public office and contracting with the State derived from final convictions for these crimes;

That, Article 288 of the Constitution of the Republic of Ecuador establishes that public purchases must observe criteria of efficiency, transparency, quality, and environmental and social responsibility, prioritizing the acquisition of national products and services, especially those from the popular and solidary economy and from micro, small, and medium productive units;

That, the first paragraph of Article 303 of the constitutional norm determines that the formulation of monetary, credit, exchange, and financial policies is the exclusive faculty of the Executive Function and will be implemented through the Central Bank of Ecuador;

That, the "United Nations Convention Against Corruption," published in the Official Register No. 76 on August 5, 2005, and ratified via Official Register No. 166 on December 15, 2005, has the purpose: “a) To promote and strengthen measures to prevent and combat corruption more effectively and efficiently; b) To promote, facilitate, and support international cooperation and technical assistance in the prevention and fight against corruption, including asset recovery; and, c) To promote integrity, accountability, and due management of public affairs and assets”;

That, Article 15 of Chapter III "Criminalization and Law Enforcement" of the aforementioned Convention contemplates that: “Bribery of National Public Officials. Each State Party shall adopt such legislative and other measures as may be necessary to establish as criminal offenses, when committed intentionally:
a) The promise, offer, or grant to a public official, directly or indirectly, of an undue benefit to that official or to another person or entity, in order that the official act or refrain from acting in the discharge of official duties; and, b) The request or acceptance by a public official, directly or indirectly, of an undue benefit, for himself or herself or for another person or entity, in order that the official act or refrain from acting in the discharge of official duties”;

That, Article 16 ibid determines: “Bribery of Foreign Public Officials and Officials of Public International Organizations. 1. Each State Party shall adopt such legislative and other measures as may be necessary to establish as criminal offenses, when committed intentionally, the promise, offer, or grant, directly or indirectly, to a foreign public official or an official of a public international organization, of an undue benefit to that official or to another person or entity, in order that the official act or refrain from acting in the exercise of his or her official duties to obtain or retain some business or other undue benefit in relation to the conduct of international business activities. 2. Each State Party shall consider the possibility of adopting such legislative and other measures as may be necessary to establish as criminal offenses, when committed intentionally, the request or acceptance by a foreign public official or an official of a public international organization, directly or indirectly, of an undue benefit for himself or herself or for another person or entity, in order that the official act or refrain from acting in the exercise of his or her official duties”;

That, paragraph 8 of Article 3 of the Constitution of the Republic of Ecuador provides that, it is a primary duty of the State: “8. To guarantee its inhabitants the right to a culture of peace, comprehensive security, and to live in a democratic society free of corruption”;

That, on October 13, 2025, the Organic Law Reforming the Organic Code of Monetary and Financial Matters was published in the Sixth Supplement of Official Register No. 142;

That, Article 13 of the Organic Code of Monetary and Financial Matters creates the Financial and Monetary Policy and Regulation Board, part of the Executive Function, as an organ with functional, technical, and institutional autonomy, and in its decisions, responsible for the formulation of monetary, credit, financial, securities, insurance, and prepaid comprehensive health care services policy and regulation. The Financial and Monetary Policy and Regulation Board shall be the highest governing body of the Central Bank of Ecuador;

That, Article 17 of the aforementioned Code, in its pertinent part, determines:
“(…) For the fulfillment of these functions, the Board shall issue regulations in matters within its competence, without being able to alter legal provisions. The Financial and Monetary Policy and Regulation Board may issue regulations by segments, economic activities, and other criteria. It may even reform or repeal regulations from the former Monetary Policy and Regulation Board, Financial Policy and Regulation Board, or Monetary and Financial Policy and Regulation Board. All norms and policies issued by the Financial and Monetary Policy and Regulation Board in the exercise of its functions, duties, and faculties must be backed by duly substantiated technical and legal reports (…)”;

That, Article 19 of the same Code, regarding the specific functions of the Financial and Monetary Policy and Regulation Board in the monetary sphere, among others, establishes: “(…) 2. To establish the policies of the Central Bank of Ecuador and supervise their implementation (…)”;

That, Article 24 ibid provides that the acts of the Financial and Monetary Policy and Regulation Board enjoy the presumption of legality and shall be expressed through resolutions that have binding force, which shall govern from their publication in the Official Register, or from the date of their issuance when so determined by the Board, in accordance with the matter;

That, Article 25.2 ut supra determines that the Technical Secretariat of the Financial and Monetary Policy and Regulation Board is exercised by the Central Bank of Ecuador, and Article 25.3 establishes as its functions the elaboration of technical and legal reports supporting regulatory proposals, providing technical and administrative support to the Financial and Monetary Policy and Regulation Board, and those assigned to it by said Board;

That, General Provision Twenty-Ninth ibid states: “In existing legislation where mention is made, indistinctly, of the Monetary and Financial Policy and Regulation Board, the Monetary Policy and Regulation Board; or, the Financial Policy and Regulation Board, replace and understand as ‘Financial and Monetary Policy and Regulation Board’”;

That, Article 17 of the Organic Administrative Code establishes the principle of good faith, under which it is presumed that persons and public servants act in compliance with the legal system in the exercise of their competencies, rights, and duties;

That, Article 21 of the Code ibid establishes the principle of ethics and probity in administrative conduct, according to which public servants and persons relating to public administration must act with rectitude, loyalty, and honesty, promoting values such as integrity, transparency, impartiality, good faith, and the primacy of the general interest over the particular;

That, paragraph 3 of Article 172 of the Labor Code establishes as a cause for termination of the employment contract by the employer the lack of probity or immoral conduct of the worker;

That, Article 10 of the Organic Law of Public Service provides for prohibitions for holding public office, stating that persons with a final conviction for crimes against public administration, corruption, or fraud against the State cannot hold positions, offices, or functions in the public sector;

That, Article 22 of the Organic Law ibid establishes the duties of public servants, among which include compliance with the Constitution and the law, diligent exercise of their functions, respect for legitimate orders of the competent authority, and performance of their activities with institutional loyalty, rectitude, good faith, and responsibility in the administration of public resources;

That, letter k) of Article 24 ut supra determines as a prohibition for public servants to request, accept, or receive benefits, gifts, or any type of undue advantage by reason of their functions, without prejudice to the administrative, civil, and criminal liabilities to which there may be grounds;

That, letter b) of Article 42 of the Organic Law of Public Service defines serious offenses as those actions or omissions that significantly contravene the legal system or the institutional order, whose sanction is oriented to preserve probity, loyalty, honesty, and morality in the exercise of public function;

That, letter d) of Article 48 of the Organic Law ibid establishes as a cause for dismissal of public servants the receipt of gifts, favors, or economic benefits unrelated to their remuneration by reason of their functions;

That, Article 280 of the Organic Integral Penal Code typifies the crime of bribery, sanctioning public servants or persons exercising state power who receive or accept undue benefits to perform, omit, or condition acts proper to their functions, as well as those who offer or deliver such benefits;

That, Article 281 of the aforementioned Code typifies the crime of extortion, sanctioning public servants or those exercising state power who, abusing their position or functions, demand or request undue benefits for themselves or for third parties;

That, Article 285 of the same Code typifies the crime of influence peddling, sanctioning public servants or those exercising state power who, taking advantage of their position or personal or hierarchical relationships, influence another public servant to obtain undue benefits for themselves or for third parties;

That, through the National Development Plan 2025-2029 “Ecuador does not stop,” in its Objective 8, oriented towards strengthening public institutionalization, it establishes Policy 8.3, directed at promoting the digital transformation of the State, the protection of information, public integrity, and the fight against corruption, within the framework of efficient, transparent, and participatory public management;

That, Article 1 of Executive Decree No. 249, of April 30, 2024, issued by the Constitutional President of the Republic, declared Public Integrity as a National Policy, oriented towards the fulfillment of sustainable development objectives and the 2030 Agenda, within the framework of national planning and development;

That, through Executive Decree No. 337, of July 22, 2024, the Constitutional President of the Republic approved the National Public Integrity Policy 2030, with the objective of promoting a culture of integrity in the management of the Executive Function, establishing its mandatory character for the institutions that comprise it;

That, through Agreement PR-SGIP-2025-0001-A, of February 24, 2025, the General Secretariat of Public Integrity issued the National Public Integrity Strategy (ENIP), as a technical-operational instrument for the implementation of the National Public Integrity Policy in the institutions of the Executive Function;

That, through Agreement No. 004-CG-2019, of January 17, 2019, the Comptroller General of the State issued the Regulation for the Registration, Administration, Alienation, and Control of Gifts or Presents Received by Public Servants in compliance with the Institutional Mission, representing the Ecuadorian State, whose object is to regulate the registration, administration, alienation, and control of gifts or presents received by public servants in the exercise of their functions;

That, paragraph 5.1.1 Governing Body of ISO 37001:2025 determines that when an organization has a governing body, it must demonstrate its leadership and commitment to the anti-bribery management system, among other aspects, through the approval of the institutional anti-bribery policy;

That, through Resolution No. JPRM-2025-007-G, of July 16, 2025, the Codification of Governance Resolutions of the Monetary Policy and Regulation Board and the Central Bank of Ecuador was issued, which, in Title II “Government Policies of the Central Bank of Ecuador”, Chapter I “Government of the Central Bank of Ecuador”, Section 1 “Organizational Management Statute by Processes of the Central Bank of Ecuador”, article 10, paragraph 1.1, letter e), establishes as an attribution of the Monetary Policy and Regulation Board the power to establish the policies of the Central Bank of Ecuador and supervise their implementation;

That, First Transitional Provision of the Organic Law Reforming the Organic Code of Monetary and Financial Matters determines that members of the Financial and Monetary Policy and Regulation Board, sworn in on September 16, 2025 by the National Assembly, will continue to exercise their functions for the periods for which they were designated and will maintain their labor continuity and acquired rights;

That, through Letter No. T.233-SGJ-25-098 of September 5, 2025, signed by the Constitutional President of the Republic, addressed to the President of the National Assembly, the list of candidates for the designation of the Members of the Financial and Monetary Policy and Regulation Board was sent; as well as, the temporality of their stay within the initial period;

That, the Plenary of the National Assembly, on September 16, 2025, designated and swore in the members of the Financial and Monetary Policy and Regulation Board, in the persons of: Gustavo Estuardo Camacho Dávila; Silvia Daniela Moya Arteta; Roberto Javier Basantes Romero; María Isabel Camacho Cárdenas; and, Jeniffer Nathaly Rubio Abril;

That, the Financial and Monetary Policy and Regulation Board, in ordinary session No. 012-2026, under hybrid modality, on April 29, 2026, reviewed the resolution proposal sent via Memorandum No. BCE-BCE-2026-0134-M, of April 24, 2026, by the General Manager of the Central Bank of Ecuador to the President of the Financial and Monetary Policy and Regulation Board; as well as, Technical Report No. BCE-SPC-2026-012, of March 18, 2026; and, Legal Report No. BCE-GJ-039-2026, of April 24, 2026; and,

In exercise of its functions and in attention to Article 24 of the Organic Code of Monetary and Financial Matters, the Financial and Monetary Policy and Regulation Board,

RESOLVES:

Article 1.- Incorporate as Section 6 “ANTI-BRIBERY AND ANTI-CORRUPTION POLICY OF THE CENTRAL BANK OF ECUADOR AND ITS HIGHEST GOVERNING BODY”, of Chapter I “Government of the Central Bank of Ecuador”, of Title II “Government Policies of the Central Bank of Ecuador” of the “Codification of Governance Resolutions of the Monetary Policy and Regulation Board and the Central Bank of Ecuador”, issued via Resolution No. JPRM-2025-007-G, the following text:

“SECTION 6
ANTI-BRIBERY AND ANTI-CORRUPTION POLICY OF THE CENTRAL BANK OF ECUADOR AND ITS HIGHEST GOVERNING BODY

SUBSECTION 1
OBJECT, SCOPE OF APPLICATION, AND DEFINITIONS

Art. 119.- Object.- This resolution aims to establish the institutional framework for the anti-bribery and anti-corruption management of the Central Bank of Ecuador and its highest governing body, promote a culture of integrity, transparency, and public ethics, and guide its personnel in the prohibition, prevention, detection, and treatment of bribery acts and any form of corruption, direct or indirect, related to the exercise of their functions. For the purposes of this resolution, this policy will be applicable to the following conducts:
a) Any act or possible act of bribery and/or corruption of the public, private, or non-profit sector; b) Any act or possible act of bribery and/or corruption committed or directed by the Institution; c) Any act or possible act of bribery and/or corruption carried out by the Institution's personnel in the exercise of their functions, acting on behalf of the Institution or for its benefit or that of a third party; d) Any act or possible act of bribery and/or corruption carried out by the Institution's business partners in the framework of their activities, acting on behalf of the Institution or for its benefit or that of a third party; e) Any act or possible act of bribery and/or corruption, direct and indirect, including those offered, managed, or accepted through interested parties.

Art. 120.- Scope of Application.- The provisions of this resolution are mandatory for personnel providing services at the Central Bank of Ecuador and its highest governing body.
Likewise, they will be applicable, as appropriate, to interested parties with whom the Institution relates directly or indirectly for the fulfillment of its institutional objectives, such as suppliers, contractors, consultants, business partners, and other third parties linked to its management.

Art. 121.- Definitions.- For the purposes of the application of this resolution, the following shall be understood:
a) Bribery Act: The delivery, receipt, or acceptance materialized of an undue advantage of any value, donation, gift, promise, or other material good, which may be of financial or non-financial nature, directly or indirectly, and independent of its location; in violation of applicable law, and as an incentive or reward for a person to act or refrain from acting, expedite, delay, or condition matters related to activities, tasks, and/or responsibilities that form part of their obligations with the Institution. b) Anti-Corruption: Set of principles, policies, and actions oriented to prevent, detect, and combat corruption in economic, political, and administrative spheres, promoting an integral, transparent, and responsible management. c) BCE: Central Bank of Ecuador. d) Communication Channels: Are the means by which the Institution informs its interested parties about aspects related to the management system; as well as receives concerns, queries, and complaints. Among these channels are: email, institutional intranet, website, official social media accounts, and applications designed for this effect. e) Whistleblowing Channel: Official medium through which the Institution receives reports related to alleged acts of bribery or corruption. For this effect, a specific link will be implemented on the official website of the Central Bank of Ecuador, which will be disseminated through official communication channels. This will constitute the only formal medium enabled for the receipt of reports. f) Conflicts of Interest: Are configured when the personal, family, economic, or any other interests of public servants or workers can interfere with or influence the objective, impartial, and independent performance of their functions, or compromise the adequate fulfillment of responsibilities inherent to their position. g) Extortion: Its meaning will be understood in accordance with Article 281 of the Organic Integral Penal Code. h) Corruption: Action or omission that implies the improper use of functions, position, authority, or trust to obtain undue benefits, whether economic, material, or immaterial, for oneself or for third parties, in contravention of current regulations, ethical norms, and the principles of legality, transparency, impartiality, and responsibility in public management. i) Reasonable Belief: Is a belief sustained by an individual based on observation, experience, or information known to that individual, which would also be sustained by another person under the same circumstances. j) Report: Written act in which the Institution's personnel and other interested parties bring to the knowledge of an administrative organ of the Institution the existence of a fact that may constitute grounds for the action of public administrations. k) Entity with Authority and Independence: Organ that exercises its attributes with technical autonomy and decision-making faculty within the scope of its competencies. The entity with authority and independence of
the Institution's Anti-Bribery Management System is the Anti-Bribery Function. l) Anti-Bribery Function: The responsibility and authority assigned to a group of Institution servants to establish, implement, maintain, review, and improve the Anti-Bribery Management System. m) Integrity: Principle that guides the conduct of the Institution, its personnel, and other interested parties, based on the coherence between values, norms, and behaviors, implying acting c”