USD 1.7

Baku 26 °C

AZ RU EN FA FR

Dark mode

POLITICS

NEWS

World

Economics

Sport

Culture news

Analysis

Blogs

Company

TOP 10

© 2004 - 2026 All copyright are reserved.

Finance

Home page

The State Oil Fund of Azerbaijan has started investing in physical gold

The State Oil Fund of Azerbaijan has started investing in physical gold

16 February 2012 08:11 (UTC +04:00)

According to the 2012 Investment Policy of SOFAZ approved by the decree of the President of the Republic of Azerbaijan dated December 29, 2011, up to 5% of the Investment portfolio of SOFAZ can be invested in gold in 2012.

For this reason, starting from 1st of February 2012, SOFAZ has begun purchase of gold bars that are in compliance with standards set forth by London Bullion Market Association (LBMA) from the banks which are market-maker members of LBMA. Incorporated in 1987, London Bullion Market Association covers international banks active in gold and silver markets, as well as producers, transportation and refinery companies.

Finance

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

ADB: Expanding electric transport could bring Azerbaijan $18 mln annually

ADB: Expanding electric transport could bring Azerbaijan $18 mln annually

BSTDB Vice President Ziya Aliyev

BSTDB has financed over €9 billion in projects since its establishment – Vice President

BSTDB President Serhat Köksal

BSTDB President: Our more than 20-year partnership with Azerbaijan is built on mutual trust

ATTENTION!

Dear user for receiving paid news sign up

Sign up

ATTENTION!

Dear user for receiving paid videos sign up

Sign up

ATTENTION!

Dear user for receiving paid photos sign up

Sign up

THE OPERATION IS BEING PERFORMED