Business And Markets

NDFI Shifting Gears

NDFI Shifting Gears
NDFI Shifting Gears

The Expediency Council has approved changes in the articles of association of the National Development Fund of Iran, the sovereign wealth fund. 
The council is a top state body responsible for resolving legislative disputes between state and government organizations.  
Changes to the articles of association of the fund cover a range of issues, namely its share of government revenue from oil and gas export and management of its financial resources, the NDFI website reported. 
NDFI is independent of the government. It was founded in 2011 to curb dependency on oil and save a percentage of government earnings from energy exports for future generations. 


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