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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies

Azerbaijan declined to place State Oil Fund’s assets in local banks

Posted on 22 October 2009

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) does not consider the issue of placement of country’s currency reserves in local banks.

“In compliance with the SOFAZ rules all the finances it runs are placed in overseas banks. The matter of the beginning of placement in domestic banks is not under consideration,” Movsumov stated……………………Full Article: Source


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