Final internal training on the Rules of Ethical Conduct was held at the Karabakh Revival Fund

On October 18, 2024, a final internal training on the rules of ethical conduct was held at the Karabakh Revival Fund.

The training covered awareness-raising activities conducted throughout the year at the Fund regarding ethical conduct issues, as well as discussions on cases of violations of ethical rules.

The Chairman of the Ethics Commission of the Fund, Rashad Gasimzade, stated that the Fund, which bases its activities on adherence to progressive corporate governance standards, ensures transparency, accountability, and ethical conduct in all operations. He emphasized that the Fund operates within the framework of ethical norms, fairly, and in compliance with relevant laws and regulations.

The Chairman of the Commission informed that the “Rules of Ethical Conduct for Employees” was approved by the Supervisory Board of the Fund through decision No. 05-22/03 dated July 27, 2022, to establish principles and rules of ethical conduct for the Fund’s employees. According to him, this document not only regulates the relations concerning the ethical conduct of the Fund’s employees and their adherence to these rules but also outlines the supervision of compliance and the responsibility for violations. Additionally, it reflects the corporate values and requirements of the Fund in this area.

It was stated that every new employee recruited by the Fund is familiarized with the Rules of Ethical Conduct by a responsible individual appointed by the Chairman of the Executive Board and undertakes an obligation to incorporate it into their daily behavior and decision-making. Similarly, in 2024, new employees were provided with detailed information about the Fund’s ethical conduct rules during introductory meetings.

During the discussions, it was noted that no cases of ethical conduct violations were identified at the Fund in 2024.

The importance of implementing the Fund’s “Anti-Bribery and Anti-Corruption Policy” and “Rules of Ethical Conduct for Employees” was reiterated during the session.

At the conclusion of the training, the Ethics Commission outlined its goals for 2025 and prepared a list of trainings and events related to ethical conduct to be held at the Fund.

It should be noted that internal trainings on ethical conduct rules and anti-corruption measures were regularly conducted for employees at the Karabakh Revival Fund throughout 2024.

The Ethics Commission of the Fund continuously organized awareness-raising and training sessions in accordance with the Fund’s activities and its Charter. These sessions aimed to instil ethical conduct principles and values among the staff.

The purpose of the trainings is to establish the foundation for individual and collective relationships among employees, ensure adherence to internal values, norms, and rules, foster an anti-corruption behavior model, and promote transparency.

During the internal trainings, new employees were initially introduced to the Fund’s Rules of Ethical Conduct, including its mission, objectives, values, corporate style, and other significant aspects outlined in the Rules.