In accordance with the resolution of the Observation Board of the Azerbaijani Investment Company (AIC), Anar Akhundov, has been appointed the Executive Director of AIC, the Ministry of Economic Development. Until recent appointment Akhundov headed the Baku Stock Exchange.
In accordance with the rules, the executive director of AIC was appointed by the chairman of the Observation Board of the Company, Heydar Babayev. Samir Sharifov, the Finances Ministry holds the post of deputy chairman.
The AIC was founded at the decree by the Azerbaijani president, dated 30 March 2006 with respect to encourage investments for the development of non-oil sector, renewal of financial and technological base existing in the enterprise active in this field. At present the Charter of AIC has undergone state registration and all organization issues have been resolved.