TEHRAN - Iran’s Securities and Exchange Organization (SEO) on Monday signed a memorandum of understanding (MOU) with Iraq Securities Commission for cooperation in developing Islamic financial instruments and establishing joint investment funds.

As reported by the Securities and Exchange News Agency (SENA), the MOU was signed in a ceremony attended by senior officials from both sides including SEO Head Shapour Mohammadi and Alaa A. Al Saedi, Chairman of Iraq Securities Commission.

Establishing a commodity exchange branch in Iraq in order to provide a platform for export and import of goods and consultations on legal and technical issues related to the capital market were among issues covered in the MOU.

In the event, the two sides also agreed on educational cooperation, including holding exhibitions and launching Arabic IRVEX, publishing capital market books in Arabic, as well as holding MBA courses in Iraq.

EF/MA