oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

First meeting of SOFAZ Supervisory Board

16 Jul 2002 19:16:00

First meeting of SOFAZ Supervisory Board

16 Jul 2002 19:16:00
President Heydar Aliyev presided over the first meeting of SOFAZ Supervisory Board held on July 16, 2002. The Board approved SOFAZ Annual Report and Auditor's (Ernst & Young) Report for 2001, and Rules of Procedure of the Supervisory Board. The Supervisory Board also discussed amendments to the Fund's 2002 budget and endorsed them. Following nomination by President Aliyev, Mr. A.Rasizade was elected current Chairman of the Supervisory Board.

The Board meeting was attended by all members of the Supervisory Board, the Fund's Executive Director, and the following: Mr. A.Hasanov, Deputy Prime-Minister, Chairman, State Committee for Refugees and IDPs, Mr. A.Asadov, Assistant to the President, Ms. D.Seidzade, Chief of President's Chancery, and Mr. N.Nasrullayev, Chairman, Chamber of Accounts.

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