BAKU, Azerbaijan, Dec.24
By Leman Zeynalova – Trend:
Main vectors of Azerbaijani State Oil Fund’s (SOFAZ) cooperation with foreign partners include strengthening relations with international financial organizations, as well as application, learning and exchange of best practices in the asset management sphere, the Fund told Trend.
“SOFAZ cooperates with many international organizations, financial corporations and banks. The Fund is one of the board members of the International Forum of Sovereign Wealth Funds (IFSWF), which is aimed at applying best practices in sovereign assets’ management. SOFAZ also is one of the partner organizations of the World Economic Forum. The Fund cooperates with the International Monetary Fund, the World Bank, the Asian Development Bank and the International Finance Corporation,” SOFAZ said.
The Fund also cooperates with and uses the services of more than 60 financial corporations and investment banks, which are the international leaders in this sphere and have assets ranging from hundreds of billions of dollars to several trilloins of dollars. “The cooperation is aimed at using custody, brokerage services for asset management and investment in mutual funds.”
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