Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) received on September 24, 2010 the members of the Board of Directors of Asian Development Bank.

Mr. Movsumov briefed the guests on the Azerbaijan's oil history, National Oil Strategy, production sharing agreements, Fund's activity, management of its assets, Sovereign Wealth Funds, major projects financed by the Fund. He talked about SOFAZ's leading role in implementation of the Extractive Industries Transparency Initiative (EITI).

Executive Director gave detailed answers to the questions covering SOFAZ's activity.