Nourlaw.com- 1 January 2015-
Iran Council of Ministers has resolved to increase its
contribution in the International Islamic Trade Finance
Corporation (ITFC) from the current USD 1.92m to USD 192m.
related decree No. H49361T/116887 dated 8/10/1393 (29 December
2014) for this considerable increase was published in the
Official Gazette today.
decision stipulates that the Central Bank of the Islamic
Republic of Iran (CBI) will arrange payment of USD 100m and
register that in its books as the Iranian government's share in
ITFC is an autonomous entity within the Islamic Development Bank
Group created with the purpose of advancing trade to improve the
economic condition and livelihood of people across the Muslim
State members of ITFC are: Saudi
Arabia, Libya, Iran, Egypt, Turkey, United Arab Emirates,
Kuwait, Pakistan, Algeria and Indonesia.
Nourlaw.com- 1 January 2015)