The State Oil Fund of Azerbaijan (SOFAZ) continued diversifying its deposits in 2024. It placed 340.34 million manat ($200.2 million) in the UAE’s First Abu Dhabi Bank. At the same time, its short-term deposit in Japan’s Mizuho Bank rose to 2.04 million manat ($1.2 million), up 339,000 manat ($199,000) from 2023.
