Iran & Iraq to Set Up Joint Investment Fund

By John Lee.

Iran's Securities and Exchange Organization (SEO) and the Iraqi Securities Commission (ISC) have signed a memorandum of understanding to create a joint investment fund.

According to Iran's SEO, the agreement is "primarily focused on development of Islamic Financial instruments, enhancement of technical infrastructure and establishment of common investment funds through shared partnership of both Iranian and Iraqi sides".

SEO Chairman Dr. Shapour Mohammadi commented:

"Very soon, we will be enabled to enlist Iraqi companies in Iranian capital market and vice versa, thanks to the signed MOU and further works both side have to do in future."

(Source: Iran Securities and Exchange Organization)

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