Iran takes transparency lesson from Azerbaijan's SWF

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A delegation from Iran's National Development Fund (NDFI) this week visited counterparts at Azerbaijan's sovereign wealth fund (SWF), the State Oil Fund of Azerbaijan (Sofaz), to learn from the Azeris' experience in running their SWF, which is rated among the most transparent in the world.

The NDFI was founded in 2011 to replace Iran's Oil Stabilisation Fund, which had aimed to use revenues from hydrocarbon exports to backstop the national budget. The NDFI is run as an SWF to invest for future g

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