Shahmar Arif Movsumov

State Oil Fund of the Republic of Azerbaijan (SOFAZ) is the Republic of Azerbaijan's extra-budgetary fund which was established by Presidential Decree in 1999 to accumulate and manage energy-related earnings. The Fund aims to ensure intergenerational equality with regard to benefit from the country's oil wealth, while improving the economic well being of the population today and safeguarding the economic security of future generations. SOFAZ is an independent legal entity whose operation is guided by the Constitution and laws of the Republic of Azerbaijan, Presidential Decrees and Resolutions and the Fund's Regulations. The Fund is responsible to the President of the Republic of Azerbaijan, to their Supervisory Board and to the Chamber of Accounts established by Parliament. The fund's activities are overseen by a Supervisory Board chaired by the Prime Minister. The Board consists of executive and legislative representatives, including government ministers and members of Parliament. The Fund is lead by an Executive Director, appointed by the President of the Republic of Azerbaijan. Their Investment Board, comprising senior officials of the Fund, manages all investment-related activity. SOFAZ does not invest in currency arbitrage, swaps, forwards and futures (except for the purpose of hedging or optimizing the currency composition of the investment portfolio and structure of the Fund's assets), precious metals and stones or real estate. The development areas and objectives of the Fund's international relations include promoting relations with multilateral international financial institutions, cooperating with international organizations with regards to application, study and sharing of experience, building business relations and contacts and enhancing existing partnerships.

International Bank of Azerbaijan OJSC International Bank of Azerbaijan OJSC provides commercial banking services. Its services include loans, deposits, cards, e-services, money transfers, accounts and 24/7 banking. The company was founded on January 10, 1992 and is headquartered in Baku, Azerbaijan.

State Oil Fund of the Azerbaijan Republic (Investment Management) (SOFAZ-IM) is the investment management division of the Government of Azerbaijan's State Oil Fund of Azerbaijan Republic. Headquartered in Baku, the firm was founded in accordance with the Decree of the President of the Republic of Azerbaijan in 1999 to accumulate and efficiently manage oil revenues. SOFAZ-IM safeguards and prudently manages energy-related earnings for present and future generations. They aim to transform deflectable hydrocarbon reserves into financial assets generating perpetual income.