Iran Oil Stabilisation Fund
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Country: Iran Established: 1999 US$ Billion: 23 |
Origin: Oil Entity Structure: Corporation |
Summary:
This fund was created to invest Iran’s oil revenues and act as a stabilizer against fluctuating oil revenues.
The investment arm is the IFIC, The Iran Foreign Investment Company. It was incorporated in March 1998 as a Private Joint Stock company with a mission to manage and expand Iranian holdings abroad.
A holding company, IFIC provides financing and financial services and makes investments around the world. IFIC has interests in energy, telecom and IT, banking, insurance, stock markets, industry, mining, oil, gas and petrochemicals, as well as new and future technologies.
Currently IFIC has ventures in different countries including Germany, Brazil, Egypt, Jordan, Sudan, Yemen, Namibia, Oman, United Arab Emirates and Armenia.
Update: It has been reported by the IRNA that Iran is creating a new fund called the National Development Fund (NDF), that will invest in Iran. It will replace the existing Oil Stabilisation Fund (OSF).
