AmCham Azerbaijan Successfully Hosted th ...
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AmCham Azerbaijan Successfully Hosted the 5th Annual Ethics and Compliance Conference
AmCham Azerbaijan successfully hosted the 5th Annual Conference on “Ethics and Compliance in Azerbaijan” on February 25, 2025. With the generous support of bp and NEQSOL Holding, the event brought together key business leaders, government officials, and compliance professionals to discuss corporate ethics, transparency, and regulatory compliance.
The conference commenced with opening remarks by Ms. Sharaf Asgarova, Chairperson of the AmCham Legal & Compliance Committee, who welcomed the audience and set the stage for an engaging and insightful discussion. She briefly outlined the committee’s recent activities and future plans, emphasizing its ongoing efforts to support AmCham members in navigating regulatory challenges, fostering ethical business practices, and strengthening compliance frameworks. Encouraging active participation, she called on attendees to share insights, challenge conventional thinking, and contribute to shaping a more transparent business environment in Azerbaijan. She passed the floor to the President of AmCham Azerbaijan.
Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, highlighted the growing relevance of ethics and compliance in today’s business climate. He reaffirmed AmCham’s commitment to integrity, accountability, and transparency, guided by its Code of Ethics, and expressed appreciation to government representatives and corporate sponsors for their role in advancing ethical business practices.
Following this, Mr. Elvin Hatamzade, Advisor to the Minister of Justice of Azerbaijan, discussed the government’s ongoing initiatives to strengthen the regulatory framework and promote corporate responsibility. He emphasized collaboration between public and private sectors as key to ensuring compliance and transparency.
Throughout the event, three engaging panel discussions took place, addressing crucial topics in compliance and business ethics.
The first panel addressed conflicts of interest in business, focusing on identifying and managing them, understanding their legal and ethical implications, and implementing best practices for effective policies and procedures. The panel also highlighted relevant case studies and practical solutions.
The session featured notable industry leaders:
- Mr. Bakhtiyar Aslanbayli, Vice President of BP Caspian Region;
- Mr. Toghrul Ahmadov, Chief Legal Officer at NEQSOL Holding;
- Mr. Edward R. Kempson, Partner at Latham & Watkins;
- Ms. Shirin Aliyeva, Chief Legal & Data Strategy Officer at Azercell;
- Mr. Vugar Novruzov, Head of Compliance at AZAL;
- Ms. Ilaria Filippi, Anti-Bribery & Data Privacy Leader at Baker Hughes.
The session was moderated by Ms. Leyla Shahingoz, Deputy Chairperson of AmCham Legal & Compliance Committee.
The second panel session explored the evolving landscape of AML compliance, focusing on Azerbaijan’s regulatory framework, cross-industry compliance strategies, real-life examples of effective AML programs, and anticipated future developments in AML regulations.
The discussion showcased insights from leading industry experts:
- Mr. Nurlan Babayev, Director at the Financial Monitoring Service of Azerbaijan;
- Ms. Almaz Musayeva, Director of Compliance Department at BirBank;
- Ms. Amina Bakhshiyeva, Legal Director at Deloitte Azerbaijan;
- Mr. Joydeep Sengupta, Partner and Head of Global Compliance and Investigations at Dentons Paris;
- Mr. Mazahir Dadashov, Director of Financial Monitoring and Compliance Department at ABB.
The session was skillfully moderated by Ms. Sharaf Asgarova, Chairperson of AmCham Legal & Compliance Committee.
The final panel focused on public procurement challenges and best practices, covering key topics such as an overview of public procurement regulations in Azerbaijan, ensuring transparency and fairness, addressing compliance challenges, and examining case studies of successful procurement projects.
The session featured insights from esteemed speakers, including:
- Mr. Ahmad Hasanov, Director of the Department of Public Procurement Control at the State Service for Antimonopoly and Consumer Market Supervision under the President of Azerbaijan;
- Mr. Kanan Tabasaransky, CEO of Smart Solutions Group;
- Mr. Mammad Balajanov, Head of Law Services at EY;
- Mr. Ayaz Mirzazada, Director of the Legal & Organizational Affairs Department at the Central Bank of Azerbaijan.
The session was moderated by Mr. Fuad Gashamov, Deputy Chairperson of AmCham Legal & Compliance Committee.
The conference concluded with remarks by Mr. Zaur Allahverdizade, First Vice-President of AmCham Azerbaijan, emphasizing the importance of ethical business practices and regulatory compliance.
AmCham Azerbaijan expressed gratitude to bp and NEQSOL Holding for their support, reaffirming their commitment to fostering transparency and ethical business standards in Azerbaijan.
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