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Information policy

Approved by the Decree #7
of the Executive Director of the
State Oil Fund of the Republic of Azerbaijan
dated 13 March 2017
Information Policy (hereinafter referred to as “Information Policy”) of the State Oil Fund of the Republic of Azerbaijan (hereinafter referred to as "Fund") has been developed in accordance with the Law of the Republic of Azerbaijan "On Obtaining Information" with the purpose of efficient management of the Fund’s information exchange with stakeholders and the public and to protect and develop its transparent state entity reputation. Information Policy defines principles, purposes and objectives of the provision of information about its operations and activities to stakeholders and the public under the purposes and objectives of the Fund.
1.      General provisions
1.1.Information Policy is a complex of coordinated legal, organizational, economic and social measures aimed at information support of the Fund.
1.2.The objective of the Information Policy is preservation and strengthening of the Fund’s positive (transparent, professional, organization meeting international standards, etc.) reputation gained among the public.
1.3.In accordance with the objective of the Information Policy the main tasks of the Fund are the following:
      1.3.1.      Effective organization of the Fund’s communications in accordance with the objectives of the Fund;
      1.3.2.      To ensure timely, accurate and proper dissemination of all required information under the legislation of the Republic of Azerbaijan and this document and make them accessible to the public.
1.4.The main principles of the Information Policy are the following:
       1.4.1.      Compliance with the requirements of the laws of the Republic of Azerbaijan and strict observance of the defined norms and standards regulating the freedom of the information;
       1.4.2.      Protection of the Fund's interests;
       1.4.3.      Regular provision of the information to the public and following the principle of fairness in the attitude to mass media and all other interested stakeholders;
       1.4.4.      Ensuring accurateness and reliability of the disclosed information;
       1.4.5.      Ensuring the confidentiality of the incoming information not belonging to the Fund.
1.5.The results of the activities of the Public Relations Department of the Fund are main criteria of the assessment of the Information Policy’s efficiency.
1.6.The legal base of the Information Policy is presented by provisions of the Constitution of the Republic of Azerbaijan, the Law of the Republic of Azerbaijan "On Obtaining the Information", Statute of the State Oil Fund of the Republic of Azerbaijan and other statutory acts of the President of the Republic of Azerbaijan related to the Fund.
2.      Definition and management of the Information Policy
2.1.Definition and general management of the Information Policy is the responsibility of CEO of the Fund.
2.2.The person in charge for the development, methodology and implementation of the Information Policy appointed by management of the Fund is the Director of Public Relations Department - Press Secretary (hereinafter referred to as “Press Secretary) of the Fund.
2.3.Managers of the structural departments of the Fund should present to Press Secretary the inquired information necessary for implementation of the Information Policy.
2.4.Managers of structural departments of the Fund have right to answer incoming queries from local and international stakeholders on current cooperation. In such cases, managers of structural departments are responsible for the compliance of provided information with the laws of the Republic of Azerbaijan and internal documents of the Fund.
3.      Requirements of the Information Policy
3.1.In accordance with the existing legislation and Regulations the Fund will ensure the provision of documents and other information which it considers open to the public and distributes in order to ensure transparency of its activities to any interested side.
3.2.Fund should provide the public with the following information on its activities:
      3.2.1.      quarterly statements on the revenues and expenditures of the Fund;
      3.2.2.      annual reports on the activities of the Fund;
      3.2.3.      independent audit reports on the consolidated financial statements of the Fund;
      3.2.4.      information about the decisions of the Supervisory Board;
      3.2.5.      information about the organizational structure of the Fund;
      3.2.6.      information about the management of the Fund;
      3.2.7.      information about the budget of the Fund;
      3.2.8.      information about the grants received by the Fund, its conditions and utilization;
      3.2.9.      information about the legal acts regulating Fund’s activities;
      3.2.10. general information about the projects financed by the Fund;
      3.2.11. open information about the investment portfolio of the Fund;
      3.2.12. information about the business trips and meetings of the management of the Fund;
      3.2.13. information about vacancies at the Fund;
      3.2.14. contact information of the Fund.
3.3.Fund discloses information about financial activities on quarterly and annual bases.
3.4.Fund has right to refute incorrect information disseminated by mass media and in case of necessity should achieve dissemination of refutation by mass media.
3.5.Fund will disclose the information not required by the legislation at its own discretion.
3.6.Managers of structural departments of the Fund should inform the Press Secretary about the confidential information.
3.7.Fund discloses the information indicated in the paragraph 3.2. of this document through its official website, in accordance with the requirements of the legislation of the Republic of Azerbaijan and through official pages in social media.
3.8.Information exchange with the Fund’s local and international partners is executed under the provisions of this document.
4.      Information Policy support
4.1.Analytical support of the implementation Information Policy, permanent improvement of the process of collection, consideration and analysis of the information related to the Fund and overall assessment of the status of cooperation with mass media is the responsibility of Press Secretary of the Fund.
4.2. Main means of collection, consideration and distribution of the Fund-related information are registry and specialized information systems. Modern technical means are applied in the information service of the Fund.
4.3.Financial and material support of the Information Policy is implemented at the expense of the funds allocated from the budget of the Fund.
4.4.Fund discloses information with following means:
      4.4.1.      Official website;
      4.4.2.      E-mail;
      4.4.3.      Official pages in social media;
      4.4.4.      Written letter.