Sovereign wealth fund of the Republic of Azerbaijan
The State Oil Fund of the Republic of Azerbaijan
Azərbaycan Respublikasının Dövlət Neft Fondu
Abbreviation
SOFAZ
Established
December 29, 1999; 24 years ago (1999-12-29)
Founded at
Baku, Azerbaijan
Type
SWF
Executive Director
Israfil Mammadov
Award(s)
United Nations Public Service Awards EITI Award
Website
www.oilfund.az
The State Oil Fund of the Republic of Azerbaijan (Azerbaijani: Azərbaycan Respublikasının Dövlət Neft Fondu), also known by its abbreviation SOFAZ, is a sovereign wealth fund of Azerbaijan founded in December 1999.[1][2]
Nearly all the fund's revenues come from Azerbaijan's oil and gas exports.[3][4] The fund has been criticized for its lack of transparency and for enriching Azerbaijan's political elites.[5][6]
^"IFC and Azerbaijan Support Private Sector Development in Emerging Markets". pressroom.ifc.org. Retrieved October 28, 2021.
^Columbia Center on sustainable investment. "Natural Resource Funds Azerbaijan State Oil Fund of the Republic of Azerbaijan" (PDF).
^Curran, Enda (2013-02-13). "Azerbaijan to Buy Australian Real Estate". Wall Street Journal. ISSN 0099-9660.
^Di Bonaventura Altuve, Leonardo (2023). "The demise of sovereign wealth funds". Review of International Political Economy. 31: 277–303. doi:10.1080/09692290.2023.2190601. ISSN 0969-2290. S2CID 257817535.
^Altstadt, Audrey L. (2017). Frustrated Democracy in Post-Soviet Azerbaijan. Columbia University Press. pp. 24, 114–120. ISBN 978-0-231-80141-6.
^Waal, Thomas de (2018-11-02). The Caucasus: An Introduction. Oxford University Press. p. 185. ISBN 978-0-19-068311-5.
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