Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) received on June 6, 2007 the delegation headed by Sir Win Bischoff, the Chairman of Citi Europe.

Informing the guests about the Fund's activity Sh. Movsumov said that ensuring transparency since its establishment in 1999 SOFAZ has been building a trust about proper management of oil revenues. He briefed the delegation about the Fund's assets management and the important projects financed by SOFAZ.

Sir Bischoff extended his congratulations to the SOFAZ Executive Director on the Fund's winning of the prestigious 2007 UN Public Service Award in the category of "Improving transparency, accountability and responsiveness in the Public Service". He assessed the release of regular reports by the Fund on its financial activity as valuable and important for ensuring transparency.