Shahmar Arif Movsumov was appointed on May 15, 2006 as the Executive Director of the State Oil Fund of the Republic of Azerbaijan by the Decree signed by Mr. Ilham Aliyev, President of Azerbaijan.

Prior to his appointment Mr. Movsumov was a General Director of the National Bank of Azerbaijan. He also served as a Chief Economist, Group Leader, Chief of Division, Deputy Department Director, Chief Adviser to the Chairman of the Management Board in the National Bank. Mr. Movsumov completed the Faculty of International Economic Relations of Moscow State Institute of International Relations and received his Master in Public Administration from the Harvard University John Kennedy School of Government.