AmCham Azerbaijan organized 4th Conference on “Ethics and Compliance in Azerbaijan”
On February 28, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized 4th AmCham Conference on “Ethics and Compliance in Azerbaijan”. The event was held with the support of the Platinum sponsors – BP and NEQSOL Holding.
Mr. Zaur Allahverdizade, Vice-President of AmCham Azerbaijan, and Ms. Gulnara Aslanbayli, Executive Director of AmCham Azerbaijan, delivered opening speeches and welcomed the participants. The importance of such conferences in promoting compliance among businesses in Azerbaijan with the pertinent laws, regulations, and ethical standards, while also fostering advancing the discourse on ethics and compliance in the region was highlighted.
Thereafter, the floor was passed to Mr. Ramin Valizada, Executive Secretary of the Commission on Combating Corruption of the Republic of Azerbaijan.
Mr. Ramin Valizada welcomed the participants and acknowledged the Chamber's ongoing efforts to enhance the business environment in Azerbaijan. Mr. Valizada talked on the the strategies, programs, and reforms that have been implemented to combat corruption in the country. He also emphasized the importance of the Anti-Corruption Commission's deliberate and focused efforts in this area and highlighted the key role of the State Program on Combating Corruption in achieving positive outcomes.
The Conference highlighted two panel discussions. The topic of the first panel was “Enforcement of anticorruption laws: international and local practices and perspectives”. Moderator of the first panel was Deputy Chairperson of AmCham Legal and Compliance Committee Mr. Toghrul Ahmadov, Chief Legal Officer of NEQSOL Holding.
The first panel featured the speeches by Mr. Isfandiyar Hajiyev, Anti-Corruption Directorate with the Prosecutor General of the Republic of Azerbaijan, Ms. Ann Sultan, Miller & Chevalier Chartered, Mr. Seyfalpasha Aliyev, Judicial-Legal Council of Azerbaijan, and Ms. Rachel Cropper-Mawer, Partner at Clyde & Co. LLP. During the first panel, speakers discussed legal and institutional frameworks in Azerbaijan, global anti-corruption developments and enforcement trends, the role of the judiciary in fighting corruption, as well as insights into best practices for preventing and mitigating corruption risks.
The second panel was dedicated to the “International Sanctions: challenges and perspectives for businesses”. Moderator of the panel was Chairperson of AmCham Legal and Compliance Committee Mr. Kamil Valiyev, Partner at Dentons. Speakers of the second panel were Ms. Indira Dashdamirova, ITC Leader of CIS region at Baker Hughes, Mr. Vagif Ahmadov, AGT Region E&C Manager of BP, and Mr. Nurlan Babayev, Head of Supervision department at the Financial Monitoring Service.
During the panel discussion, the speakers touched upon the challenges and implications of international sanctions for businesses operating in Azerbaijan. They provided insights into the best practices for navigating and complying with these sanctions, as well as the potential risks and consequences of non-compliance. The role of governmental agencies and organizations in providing support and guidance to businesses in meeting their obligations related to international sanctions was also highlighted. The panel provided valuable information and guidance to help businesses effectively manage the challenges posed by international sanctions.
The panel discussions were followed by interactive Q&A session, as well as exchange of views and best practices.
More than 100 people participated in the conference, including high-ranking government officials, senior executives from business community, member companies and representatives of diplomatic corps.
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BFI Committee`s February Meeting
On February 6, AmCham hosted BFI Committee`s Meeting.BFI Chairperson, Mrs. Aytan Rustamova, opened the meeting by welcoming members, guest speakers Sanan Hasanov (Demir Bank) and Nazim Mammadov (Alliance Group LLC) as well as informing the committee members on the achievements & challenges of the past year.Within the first part of the meeting Committee Chairperson passed the floor to the guest speaker of the meeting, Mr. Sanan Hasanov, the representative of Demir Bank who delivered a report on “EnergoCredit”, the collaborative project of European Bank for Reconstruction and Development (EBRD) with Demir Bank. The presentation was followed by Q&A session.Short bio of our guest speaker:Mr. Hasanov holds a master of Finance from Azerbaijan State University of Economy. He is currently working for DemirBank OJSC as Marketing Director. He has more than 10 years experience in banking sector in Azerbaijan. He has managed and implemented many local and international projects.During the second part of the meeting Mr. Nazim Mammadov, representative of Alliance Group LLC has delivered a presentation on “Case studies from Georgia on EnergoCredit project”. The presentation was followed by Q&A session.The Committee meeting finished by networking and one-to-one conversations.Powered by Froala Editor
BFI Committee`s March Meeting
On March 16, AmCham hosted BFI Committee Meeting.BFI Chairperson, Mrs. Aytan Rustamova, opened the meeting by welcoming committee members and guest speaker – Mrs. Julie Nutter, Director of the Office of Sanctions Policy and Implementation in the Department of State’s Bureau of Economic and Business Affairs.Within the first part of the meeting, Mrs. Julie Nutter delivered a very informative speech on “US Policy & Sanctions on Russia and Iran” followed by Q&A session.During the second part of the meeting, Mrs. Nutter introduced Mr. W. Stuart Huffman, Foreign Service Officer of the Office of Sanctions Policy and Implementation, who joined her during the Q&A session.Short bio of our guest speaker:Julie Hagarty Nutter is the Director of the Office of Economic Sanctions Policy and Implementation (SPI) in the Department of State’s Bureau of Economic and Business Affairs (EB). Prior to her current posting, she was the Economic Minister-Counselor at the U.S. Embassy in London. From 2005 to 2008, Ms. Nutter was the Director of the Office of Development Finance in the Economic, Energy, and Business Affairs Bureau. She previously served as the Economic Counselor in the U.S. Mission to the European Union in Brussels. During her Brussels tour, she volunteered for an Iraq Provincial Reconstruction Team Leader position and spent seven months in Iraq, mostly in Basra, working to improve governance capacity at the provincial level. In earlier jobs, she headed the Ukraine desk of the State Department in the run-up to the Orange Revolution, worked closely with other donors on G-8 and Balkan reconstruction issues, and did political and economic reporting during the Liberian civil war. Ms. Nutter has a Masters’ degree in National Security Resource Strategy from the National Defense University and a Masters’ degree in International Economics from Georgetown University. She has two daughters, and grew up in Philadelphia, Pennsylvania.Powered by Froala Editor
BFI AND CSR COMMITTEES` JOINT MEETING
On May, 18, AmCham hosted BFI and CSR Committees` Joint Meeting.Mrs. Nargiz Nasrullayeva-Muduroglu opened the meeting by welcoming participants as well as introducing Mrs. Natavan Mammadova as the newly appointed Director of AmCham Azerbaijan. Afterwards, she passed the floor to Mrs. Ayten Rustamova, Chairperson of BFI Committee, who introduced guest speakers to the audience – Mrs. Gwen Burchell, Director of United Aid for Azerbaijan (UAFA) and Mrs. Natavan Hasanova, researcher of Strategic Research Center of AR (SAM).During the first part of the meeting, Mrs. Burchell informed the participants of the meeting about UAFA and its activity. Afterwards, she passed the floor to her colleague – Mr. Saleh Nasirov – who provided the detailed information about the activity direction of UAFA, particularly pre-school educationm reabilitation centers and social support and also, creation of educational systems in four regions of Azerbaijan. Moreover, Mr. Nasirov presented a video clip about Child Development Center in Baku established by UAFA.Within the second part of the meeting, the floor was passed to Mrs. Natavan Hasanova who delivered a presentation on “Research Results on Corporate Social Responsibility at Azerbaijani Banks”. Along with the report on local activities, Mrs. Hasanova provided very thorough information on CSR activities in different countries (USA, China, Japanm Germany, Italy, Australia).In the end of the meeting, Ms. Aynura Piriyeva, Chairperson of CSR Committee, announced the organization of CSR Excellence Award in cooperation with P. World on October 1, 2.Powered by Froala Editor