Baku, Azerbaijan, Oct. 27
By Fatih Karimov - Trend:
Iran has purchased 2.8 percent share of the Asian Infrastructure Investment Bank (AIIB).
Mohammad Khazaei, Iran's Deputy Economy Minister and President of the Organization for Investment, Economic and Technical Assistance of Iran, said in line with boosting Iran's role in regional organizations, the country has embarked on buying shares of some multinational banks, Mehr news agency reported Oct. 27.
As per this policy, Iran has finalized the purchased of 2.8 percent of share of the Asian Infrastructure Investment Bank, which was founded by China and Russia, and many other countries are its shareholders, he added.
Iran is the 15th largest shareholder of the bank and holds a $1.6 billion stake as the 34th prospective founding member.
The AIIB is a proposed international financial institution focused on supporting infrastructure construction in the Asia-Pacific region. The bank's Articles of Agreement was signed by 50 prospective founding members on June 29, 2015.
Earlier, Khazaei said the country also plans to join an independent bank established by BRICS member states, namely Brazil, Russia, India, China and South Africa.
But, the amount of shares has not been specified yet and needs further negotiation.
Edited by CN
