In an interview with IRNA, IFB’s chief executive, Amir Hamouni, said half the figure pertains to the exchange’s debt market and the remaining half to its stock market. “Most of the investors have come from Germany, Persian Gulf littoral states and those in East Asia,” he said. IFB is an over-the-counter market for securities and other financial instruments in Tehran, which operates under the official supervision of the Securities and Exchange Organization.