Azerbaijan, Baku, July 14/Trend M. Moezzi
The managing director of Iran's Bank Mellat recommended that investments from banks and the National Development Fund or the Iranian Central Bank's deposits be used to establish a fund for developing the country's oil industry.
Ali Divandari, who heads the Bank Mellat, also proposed a rial-foreign exchange fund to attract capital from the money and investment markets, the iribnews.ir website reports.
Issuing participation bonds that can be turned into shares in oil industry projects that are already underway could be another way to get the funding needed for the industry.
Divandari pointed out that after the services industry, the oil industry contributes to the highest share value added, 22 percent, to Iran's economy.
Iran's gross domestic product ranks 18th in the world, Divandari said.
He emphasized the importance of Iran's maintaining its positions among OPEC countries.
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