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Conclusion of 3rd Nazaha Conference

4/30/2018

The conclusion of the 3rd International Nazaha Conference (Protecting Integrity and fighting Corruption in Privatization Programs), which was sponsored by HRH Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region on behalf of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, on 5th of April 2018 in Riyadh. It was organized by the National Anti-Corruption Commission.
The first speaker of the conference, Dr. Christopher McKee, Executive Director and Owner of the PRS Group, presented a presentation. The session was moderated by Prof. Dr. Mohammed bin Abdulaziz Al-Hizan, member of the Shura Council. McKee pointed out that there are significant changes in the fight against corruption The Kingdom of Saudi Arabia.
The first session, entitled Fighting Corruption in Privatization Programs, covered the following topics: Possible corruption crimes in privatization programs, ways of detecting corruption crimes in privatization programs and dealing with them, addressing the effects of corruption crimes in privatization programs and means of recovering assets resulting from crimes of corruption in privatization programs.
The session was moderated by Dr. Nouf Bint Abdul Aziz Al-Ghamdi, Economic and Regional Development Advisor, where Sheikh Ali bin Mohammed Al-Qarni, Head of the Public Prosecution Service Department, talked about possible crimes in privatization programs.
Dr. Quentin Reed, an anti-corruption and governance adviser, spoke of why some European countries failed to implement privatization by fully privatizing all services, weak legal framework and inability to control privatization management.
Mr. Tariq Salama Haddad, a partner in PwC's Verification and Conflicts Service, presented a  paper stating that proper controls during and after privatization not only reduce the risk of financial crime, but also increase confidence in investors and shareholders. Allowing the government to market future projects to ensure that the country has the best results.
Dr. Pablo Serra, member of the Chilean Electricity Experts, spoke about the most impeding application of privatization, namely, the existence of ineffective anticorruption systems, and stated that when implementing privatization, implementation should first be applied to a few decentralized strategic companies; Such as communications and transportation.
Ms. Mishaael Al-Rasheed, Director of Business Development, Ministry of Labor and Social Development, reviewed the experience of France and Britain in the field of privatization. She stressed that French law defines the type of projects that can be privatized. Setting rules to ensure the evaluation of public projects that will be sold in real terms.
Dr. Abdulaziz bin Abdullah Al-Nasser, Undersecretary of the Ministry of Justice for laws and International Cooperation, presented a paper in which he pointed out that the risks of privatization lies in the legislative vacuum, the large number of transactions and contracts in a short time, the difficulty of controlling all details.
Professor Karin Grudd, Inspector and Financial Investigator of the Swedish National Police Operations Department, spoke of the existence of a global organization called "Karen Inter-Agency Asset Recovery", an informal network of experts and judicial practitioners designed to improve the efficiency of members' The corrupt assets they use.
The second session, entitled: International Experiences in Privatization Programs, was moderated by HE Dr. Abdulaziz Al-Wathaini, Head of Accounting Department at the Faculty of Business Administration at Al-Faisal University, and Economic Writer.
Dr. Fayez bin Abdulhadi Ben Ahmed, Head of Economics at the Modern Academy of Computer Science and Management Technology in the Arab Republic of Egypt, spoke about the experiences of countries in privatization. He stressed that it is difficult to drop the experience of a country to other countries due to different circumstances.
Mr. Stephen Betty, Head of Global Infrastructure, KPMG, said that all processes in the tender process should be transparent to implement privatization, while ensuring sufficient time for data presentation and understanding. It was also important to develop a database For the corrupt in the public sector.
Mr. Brad Watson, Partner, Regional Practice Leader and Infrastructure Consultant at EY, presented a working paper on privatization. It is important to be in accordance with the circumstances of each country so that the policies are objective and clear.
Mr. Ibrahim Al Bassam, Principal Partner at Al Bassam & Co., said: The importance of obtaining sufficient and comprehensive information about the sectors targeted for privatization, especially the accounting information for in-kind and movable assets.
The session concluded with Laury Haytayan, Director of the Middle East Region at the Institute for Natural Resources Governance (NRGI) and stated that Saudi Arabia has achieved a good score in accordance with the Resource Governance Index issued by the Institute for Natural Resources Governance in a number of areas, Law, quality of systems, control of corruption, and government effectiveness.
A workshop on the implementation of compliance in the private sector was held on the margin of the conference on the implementation of compliance in the private sector and aimed at discussing ways of implementing compliance and functional commitment through a number of themes, including review of experiences in the application of compliance, procedures and mechanisms for enhancing compliance and proposing a number of visions The workshop was conducted by Mr. Dhari Al-Shammari, Director General of the Internal Audit Department at the Capital Market Authority and Mr. Amir Mughram Al-Houtan, Director of Project Audit Department at Saudi Aramco.