Jun 26, 2023, 2:27 PM
News ID: 85151974
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Iran to hike capital in Islamic Development Bank

Jun 26, 2023, 2:27 PM
News ID: 85151974
Iran to hike capital in Islamic Development Bank

Tehran, IRNA – Lawmakers in the Iranian parliament (Majlis) have approved a plan which permits the Iranian government to increase its capital in the Islamic Development Bank.

According to a Monday report by the IRNA, the approval was made at open session of the Iranian parliament in Tehran earlier in the day.

Based on the plan, the Iranian government is allowed to raise its capital at the IDB from 4.174,63 billion Islamic Dinars to 4.631,46 Islamic dinars ($6.195 billion).

According to the Majlis approval, the Central Bank of Iran (CBI) should pay the increased capital within 14 years in 28 6-month installments.

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