IRENEX Plans to Help Oil Market 

Iran Energy Exchange is collaborating with the National Iranian Oil Company on plans to launch commodity-linked certificate of deposits backed by oil and energy carriers. 
Ali Naqavi, the IRENEX chief made the announcement on Thursday, adding that the plan will promote transparency and help expand the oil market. 
“Commodity-linked CDs are a new method for selling oil and petroleum and offer a new tool for investment,” he was quoted as saying by the Securities and Exchange News Agency.