| The new President of the Islamic Republic of Iran has appointed a Canada-educated director to oversee the investments of the county’s sovereign wealth fund (SWF). Safdar Hosseini is the new director of the National Development Fund of Iran, the country’s government said yesterday, replacing Mohammadreza Farzin.
The fund was valued at around $49.9 billion in March and receives 20% of Iran’s oil revenue each year. Reports in the Tehran Times said the government predicted the value to have risen to around $61 billion by the end of March next year, even using the “worst case scenario”...............................................Full Article: Source
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