Yes that is called Haya and there is also something called Akhlaq..
Akhlaq (Arabic: أخلاق) is the practice of virtue, morality and manners and falsafah (philosophy). The science of ethics (`Ilm al-Akhlaq) teaches that through practice and conscious effort man can surpass their natural dispositions and natural state (Fitrah) to become more ethical and well mannered. Akhlaq is a kind of normative ethical system known as "virtue ethics", which is based on "virtues, or moral character"
This counts even for the regular joes here especially when they interact with elders of the community or in public gatherings, shopping areas etc etc.. Example you can't just go into a store and shout to an old man ''Hey Hey! Hey! You there give me that bottle'' in a loud speech to him? This is against Akhlaq and he could confront you with ''don't shout at me and how old are you etc etc I could be your father and stuff like that''