26.05.2015 - SOFAZ to invest in Chinese Yuan in mid-year
Azerbaijan's state oil fund SOFAZ, an entity that accumulates and manages Azerbaijan's oil and gas revenues, plans to invest $500 million in bonds, denominated in Chinese Yuan in June of this year. The relevant agreement has already been signed with the Chinese Central Bank, SOFAZ Executive Director Shahmar Movsumov told Trend Agency last week. "We already have an agreement with the Central Bank of China, and a few days ago our securities committees signed a document, after which we can start investing," he noted. Last week the State Securities Committee of Azerbaijan and China Securities Regulatory Commission signed a memorandum aimed to ensure the investors' protection and promote the integrity of securities and futures markets and other related investment instruments by expanding the scope of cooperation, strengthening the exchange of regulatory and technical information...............................................Full Article: Source
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