Tehran, Dec 21, IRNA � Head of Islamic Monetary Association Ali Salehabadi said here on Monday that Iran has capacity of becoming the Islamic countries' economic hub in the Middle East, adding that 1st international gathering of that association will be held in Tehran on Dec 27.

Speaking in a press conference on the establishment of the Islamic Monetary Association, he said that the association was designed four years ago and established two years ago.

'Training, research work and fundamental investigation on trade in Islamic countries were in the agenda of the association ever since its establishment,' he said.

Salehabadi emphasized that the association is not merely allocated to capital market, as Islamic countries' banking and insurance, too, are in the focus of attention.

By IRNA