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Sovereign Wealth Funds Briefing - Categorized | Financials

SOFAZ increases savings in Turkish banks

Posted on 24 July 2012

In July, the State Oil Fund of Azerbaijan (SOFAZ), placed 800 million Turkish liras on short-term deposits of Turkish banks, executive director of the Fund Shahmar Movsumov said at a press conference on the results of activity in the first six months of this year.
“In the near future, the fund plans to further increase the amount of savings in the Turkish currency in the total investment portfolio,” Movsumov said………………………………………..Full Article: Source

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