Tehran, December 27, The Iran Project - Along with holding the first Islamic Conference on Science and Technology Development in Tehran, the head of the conference�s secretariat says efforts are underway to establish an�Islamic countries' international fund for technology development.

Speaking to a reporter on Sunday, Mohammad Reza Golrou, the head of the Conference Secretariat noted the first conference on technology development today in Tehran which is to be opened today in Tehran.

Referring to the Islamic countries� vast volume of trading in the areas of science and technology with other countries, he stated that the assessment of the�Islamic countries� needs and capabilities is the initial step to set up a technology based market.

Underlining the necessity of financial institutions� contribution, he further hoped that the Islamic countries� banks take part in the process aimed to establish an international fund for science and technology in Islamic countries.

�The new atmosphere after the removal of sanctions may pave the way for a better banking cooperation and for the establishment of an international fund in order to support technology in Muslim world,� he said in concluding part of his remarks.

The first Conference on Muslims� Countries Science and Technology Development is underway�in Tehran from December 27-29.