Iran launch of foreign currency investment funds

Iran is introducing its first official foreign currency investment funds through a collaboration between the Securities and Exchange Organization and the Central Bank. These funds are designed to attract foreign currency held by individuals and legal entities into productive economic activities, allowing investors to earn returns on dollar-denominated assets rather than solely profiting from the Rial’s devaluation.

Following the issuance of principle approvals, the first fund, named Mana Mellat, was scheduled to begin its subscription period on September 16, 2026. The initial offering consists of 990,000 units with a base value of 10 USD per unit. The fund intends to invest in low-risk, liquid instruments such as foreign currency Murabaha bonds, certificates of deposit, and foreign letter of credit discounting.

The Central Bank of Iran will maintain oversight of all foreign exchange processes, including unit issuance and currency-related payments. While Mana Mellat is the first to launch, other banks have reportedly received licenses and are expected to introduce similar funds in the near future.