Project Case Study
The fight for transparency and anti-corruption in Myanmar
Giving citizens of Myanmar the big picture on beneficial ownership disclosure
Globally, beneficial ownership (BO) disclosure is increasingly becoming a tool to combat money laundering, tax evasion and bribery in the financial and extractives sector. In Myanmar, the Extractive Industries Transparency Initiative (EITI) is championing beneficial ownership disclosure and now, the extractives sector is leading the way on transparency in the country.
From early 2018, ASI supported Myanmar’s EITI National Coordination Secretariat in its efforts to meet the 2020 EITI beneficial ownership requirement.
Work included helping the EITI Multi-Stakeholder Group to formulate a national Beneficial Ownership Work Plan, develop institutional arrangements for BO implementation, and strengthen government, CSO and industry stakeholder understanding of global policy requirements and initiatives relevant to BO.
With our partners at Open Oil, we designed and implemented a BO Pilot Project that included 21 volunteering companies from the oil and gas, mining, jade and gems and forestry sector. 17 of the participating companies disclosed information on their legal and beneficial owners, thus establishing a precedent on the feasibility of BO disclosure in Myanmar.
Leading the way with results
- Creation of a Beneficial Ownership Task Force
- Beneficial Ownership awareness has risen as a result of the successful BO Pilot project
- 21 volunteering companies from the oil and gas, mining, jade and gems and forestry sector participated in the BO Pilot Project