The Iranian Oil Bourse, (Persian: بورس نفت ایران ) International Oil Bourse, Iran Petroleum Exchange or Oil Bourse in Kish (IOB; the official English language name is unclear) is a commoity exchange which opened on February 17, 2008,. It was created by cooperation between Iranian ministries and other state and private institutions. The IOB is a Petrobourse for petroleum, petrochemicals and gas in various non-dollar currencies, primarily the euro and Iranian rial and a basket of other major currencies. The geographical location is at the Persian Gulf island of Kish which is designated by Iran as a free trade zone..