IFB Appoints New Chief

The board of directors of Iran Fara Bourse, Iran's over-the-counter exchange, appointed Muhammad Ali Shirazi as the new head of IFB replacing Meysam Fadaei, who resigned on Thursday after less than a year. 
Shirazi holds a PhD in financial management from the University of Tehran. in the past he worked as the CEO of Omid Investment Management Group, Saba Tamin Investment Company, Alborz Investment Company and Barakat Pharmaceutical Group, according to the IFB website.
No further information was available on the reasons behind the resignation of the former chief. 
Iran Fara Bourse is one of the four Iranian exchanges and operates under the supervision of the Securities and Exchange Organization (SEO), a member of IOSCO.
IFB was established on November 12, 2008 to assist companies wanting to join the capital market and enhance their corporate governance and business by providing easier listing requirements.