Azerbaijan’s Oil Fund places short-term deposit at First Abu Dhabi Bank

Azerbaijan’s State Oil Fund (SOFAZ) placed a short-term deposit worth 340.34 million manats at the United Arab Emirates’ First Abu Dhabi Bank in 2024, according to the Fund’s financial report.

The report also shows that a deposit at Japan’s Mizuho Bank reached 2.04 million manats, up 19.9% from the previous year.

As of January 1, 2025, the Fund’s total term deposits had decreased 162-fold year-on-year to 11.69 million manats, following the maturity of a 1.89 billion manat deposit held at the Central Bank of Türkiye.

Accumulated interest on deposits stood at 512,000 manats by the end of 2024.

N.Tebrizli