The Beneficial Ownership conference Opened in Jakarta

Representatives from all EITI member countries (52 Countries) took part at the two-day workshop about the disclosure of beneficial ownership held in Indonesia. In this conference all member countries were told to implement disclosure of beneficial ownership by 2020. In accordance to the mining law Afghanistan is also fully committed to disclose the main beneficial owners of the mining contracts and share all the comprehensive information about them with the public.

The conference was held on October 23rd this year in the capital of Indonesia (Jakarta), where representatives of EITI member countries shared the information about the achievements and developments took place in regard of the disclosure of beneficial ownership in their countries.

Afghanistan in the past few months has also shown developments in this regard, and has approved the beneficial ownership roadmap. Based on this roadmap, Afghanistan is about to implement the EITI standard in the mining sector, and as well as Afghanistan plans to include the issue of disclosure of beneficial ownership in the mining law.

On behalf of MoMP deputy minister Ghazal Habibyar said that, currently Afghanistan is working on reform of mining law, and we want to include beneficial ownership into the mining law as a solid and independent point. It is hoped that an independent regulation for the same issue will be created later in Afghanistan, so that it will help to embed communal information about those who obtain mining contracts and those who benefit from it.

The purpose of including this issue in the law is to increase transparency in the area of revenues obtained from the mining sector, and as well as to shorten the hands of those who cannot access extraction activities under the law. It should be noted that all government officials also include this.

Beneficial ownership disclosure is currently implemented in two of EITI member countries, UK and Ukraine. Representatives of both countries spoke about experiences of their countries in this regard, and indicated the challenges their countries facing about the disclosure of beneficial ownership. "We in our country were able to register 79 percent of the companies and the main gainers of contracts, shareholders, beneficial owners, and we shared all the information clearly and comprehensively about them," said the UK representative.

Olina Ukraine’s deputy minister for the ministry of justice added: One of the extractive companies in Ukraine has got the largest oil extraction contract, but because it did not provide information about the main owners of the company, thus, its extraction activities didn’t take place and its signed contract was canceled.