Iran Can Attract $3.5 Trillion worth of Foreign Investment: CBI

“Given its geopolitical standing in the Middle East as well as the current investment opportunities in various fields and the young and educated population, Iran has the capacity to attract over $3,500bn in foreign investment within the next two decades,” he said.

In an address to the financial heads of the Organization of the Islamic Cooperation in Turkey, Seif also referred to the Islamic banking capacities and said with their great performance in the face of the recent world recession, the Islamic banks have managed to attract the attentions of many across the world to their financial mechanism.

“The mechanism is free from usury and this in turn makes it capable of working as a guarantee against grave risks and a facilitator for financial exchanges,” he was quoted as saying in a Farsi report by the Entekhab news website.

Seif said the focus of the Islamic banks on the real sections of economy instead of bonds has made them less vulnerable against economic shocks across the world compared with other banks.

He also referred to the current financial instability in the developed countries and said today strengthening of multilateral as well as regional financial ties can play a key role in restoring stability to the global economy.

“Amid the current instable conditions, the OIC as the second largest international organization after the United Nations can contribute to efforts to tackle the current economic problems in the world,” he said.

He also highlighted the efforts made after the signing of the nuclear deal between Iran and world powers to expand ties between Iranian and European banks and expressed hope the efforts would lead to more foreign investments in Iran.