| The State Oil Fund of Azerbaijan (SOFAZ) has practically stopped to deposit its funds abroad with exception of four Turkish banks. According to the SOFAZ financial report for 2014 audited by PwC, last year SOFAZs deposits in foreign banks increased from AZN 841.559 million up to AZN 1.019 bn. At the same time, except a deposit in IBA-MOSCOW Bank LLC, all the funds were deposited only in 4 Turkish banks.
The deposit in Türkiye ?? Bankas? A.S. ?stanbul has been increased from AZN 313.009 million up to AZN 355.036 million, the deposit in T.C. Ziraat Bankas? A.S. from AZN 131.158 up to AZN 309.158 million, in Akbank T.A.S, ?stanbul - from AZN 109.228 million up to AZN 263.286 million, and in Türkiye Garanti Bankas? AS decreased from AZN 209.095 million to AZN 84.243 million...............................................Full Article: Source
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