SEO Seeking NDFI Relief

The Securities and Exchange Organization wants to tap into the National Development Fund of Iran, the country’s sovereign wealth fund, to prop up the struggling stock market, the SEO chief said. 
After dramatic gains in the first four months of current fiscal year (March-July 2020), Tehran stocks plunged to historic lows from August and lost 30%.  
“We are trying to transfer 1% of NDFI revenues to the Capital Market Stabilization Fund,” Securities and Exchange News Agency quoted Hassan Qalibaf-Asl as saying. 
The CMSF was created in 2017 to help resolve the credit crunch in the bourse. It has the task of supporting stock markets and safeguarding the interest of investors.