President Hassan Rouhani Sunday appointed Ahmad Doust Husseini to head the National Development Fund of Iran, the government’s official website reported. Doust Husseini is a former deputy minister of industries mining and trade. He has also been a board member at Tehran Chamber of Commerce, Industries and Mining. Last month, the former head of the fund and all its board members resigned, in the wake of a salary scandal that cost many officials their jobs. The sovereign wealth fund was created in 2011 to use a portion of surplus revenues from crude oil exports for investment in long-term projects. The NDFI is said to have $80 billion in assets.
