TEHRAN, Iran, August 16. Iran Expediency Council has reviewed the possibility of adding new regulations to the National Development Fund (NDF)'s guidelines, said the legal manager of the NDF, Farhad Hemmati, Trend reports citing Tasnim News Agency.
According to new rules, the National Development Fund of Iran will have a 42 percent share of oil and gas export and crude oil barter revenues that would annually increase by 2 percent.
The NDF can make domestic and foreign investments to increase its resources that would including the purchase of stocks and investment in projects, infrastructures, and collaboration with the private sector and cooperatives.
The National Development Fund will be independent of the Central Bank of Iran (CBI) in managing its own accounts and using its resources separately from the government budget.
The fund can establish or own a financial organization that is appropriate with its responsibilities without any branches, or the possibility of accepting deposits and creating money.
Hemmati said that the new rules will be added to Iran's Seventh Development Plan if approved by the Iran Supreme Leader.