A routine meeting of the SOFAZ Supervisory Board was held on October 31, 2006. The meeting was presided over by Mr. Artur Rasizadeh, Prime Minister and Chairman of the Supervisory Board and discussed the SOFAZ draft budget for 2007.

Having endorsed the Fund’s 2007 draft budget, including the major directions of its investment policy, and its draft annual operating expenditures, the Supervisory Board recommended the budget for the approval by President of the Republic of Azerbaijan.

Prime Minister Artur Rasizadeh was re-elected as the Supervisory Board’s Chairman-in-office.