This fund no longer exists.
US$ Billion: 23
Entity Structure: Fund
Iran has created a new fund called the National Development Fund (NDF) that will invest in Iran. The new fund has been created to be an inter-generational national wealth fund. It will replace the existing Oil Stabilisation Fund (OSF). Iran transfers 20% of oil revenues to the National Development Fund.
The original fund (OSF) 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.