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Spanning various countries, our portfolio showcases Beneficial Ownership.
Michael and Tim were part of a team of international and Azerbaijani consultants who delivered support to the State Oil Fund of Azerbaijan to implement a beneficial ownership disclosure roadmap.
The project was funded by the Asian Development Bank and included:
- An inception visit and report,
- Analysis of international good practice using six comparator countries and international standards such as FATF and EITI,
- A detailed definition of beneficial ownership,
- The mechanism required for implementation, administration and verification,
- Legal review,
- Draft implementing legislation,
- A public consultation process,
- Awareness-raising activities including producing an explanatory video.
Michael, Tim and the team delivered the project through a combination of permanent on the ground presence, carefully planned field visits and remote working. The result was the delivery of the package for the implementation of a beneficial ownership reporting and disclosure regime that had buy-in from all key stakeholders including government, industry and civil society.