Iran sharply raises stake in Islamic body
As many as 31 countries with 56 shareholders are members the International Islamic Trade Finance Corp./ The International Islamic Trade Finance Corp (ITFC) has approved raising Iran’s stake in the financial entity, making the country the third largest shareholder, its annual report says. Iran is getting 8,500 new shares worth $85 million under the new arrangement, sharply up from just $1.92 million for the country at the end of 2013, the report said. ITFC has financed $594 million worth of projects in Iran since its establishment in 2008. ...
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