Compliance

Pursuing the best compliance and ethics practices in relationships with stakeholders is among NEQSOL Holding’s top priorities in doing business.

We base our business practice on the principles of sustainable development and corporate social responsibility. With this in view, NEQSOL Holding implemented the comprehensive Corporate Ethics and Compliance Program for all employees, vendors and business partners. The program is guided and maintained by policies and procedures such as:

- Code of Conduct (CoC) – is a set of core values and principles and provides the foundation that guides our business conduct. The Code serves as the main resource to assist our employees, clients and all other stakeholders by referring to Holding’s relevant policies, procedures and guidelines.

- Anti-Bribery and Corruption Policy (ABC Policy) - sets out our responsibilities in dealing with anti-bribery and corruption issues and helps to avoid the occurrence of improper and illegal conduct. It encourages proper and ethical behavior in the Holding in accordance with international anti-bribery management systems, laws and regulations, other standards and worldwide best practices.

- Independent Hotline – serves as an anonymous reporting mechanism that facilitates reporting of possible illegal, unethical, or improper conduct.

- Awareness and Training Programs – set of compliance training sessions to help ensure understanding across the Holding employees and contractors about our values and procedures, the prohibition of bribery and corruption and preventive measures that could be taken in case of such violation.

- Security Check and Due Diligence – procedures and processes that are aimed to verify and examine each vendor and supplier of our Holding before becoming involved in a business arrangement with us.

- Monitoring and Observation – numerous Audits and Investigations conducted on a constant basis to verify working conditions of procedures and to define shortages that may appear during their implementation.

NEQSOL Holding’s compliance policies and procedures set forth fundamental principles of collective and individual conduct that should unconditionally be followed by the entire personnel of all group companies’ personnel. We are aiming to comply with the best international standards in compliance and corporate governance.

NEQSOL Holding’s group company, namely Nobel Oil Services (UK) Limited, holds ISO 37001:2016 Anti-Bribery Management Systems (ABMS) certification, which is an important part of Ethics & Compliance, by applying the first international standard in the area of Anti-Bribery and Corruption Management. We are working to obtain a similar certification for each group company. ABMS certification assures the prevention, detection, and response to any corruption and bribery case by putting in place the best international practices on anti-bribery controls. The certificate is awarded upon the results of an audit carried out by LRQA, a part of UK-based Lloyd's Register Group Limited, which operates in 120 counties and serves 45,000 customers worldwide.

NEQSOL Holding is constantly improving its compliance system to analyze and mitigate the corruption risks, including the integration of anti-corruption practices.

For NEQSOL Holding, compliance means high standards of business ethics and professional behavior. The corporate conduct and business ethics policies are fundamental principles of the internal corporate behavior, interaction with the customers, business partners, state authorities and external audiences.

Hotline contacts

In order to maintain the proper reporting channels and in-time investigations we encourage all our employees and other stakeholders to report any suspected inappropriate or illegal conduct to the Corporate Governance and Compliance Manager using the below Hotline contacts:

Postal address: VIP Plaza, 22 Nizami Street, Baku, Azerbaijan
Mobile phone: +994 55 450 12 12
Email address: compliance@neqsolholding.com

Policies, Statements and Procedures

Code of Conduct

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Anti-Bribery and Corruption Policy Statement

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Compliance Hotline and Reporting Procedure

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