Bank Mellat was formed in accordance with the resolution of Banks General Meeting on Dec.20,1979 in line with the provisions of article 17 of the Banks Management Act , with the initial share capital of 33 billion Rials through the merger of 10 private pre-revolution banks. With the present share capital of 1239 billion Rials , Bank Mellat is the third largest bank within the Islamic Republic of Iran.
Bank Refah was founded in June 1960, with the aim of providing any kind of banking services for people from all walks of life and special facilities and credits for laborers. Its initial investment of 400 million I.R.R. was designated by Social Security Organization. In 1979, following the bill on administration of banking affairs and nationalization of the banks, Bank Refah was considered as a commercial bank and in July 1993, it was being supported by S.S.O owning 46% shares of the bank.
Karafarin Bank was initially established as Karafarinan Credit Institute. It is the first truly privately-owned bank in Iran established since the 1979 revolution. Its shareholders are among the leading industrialists and contractors in Iran.
Parsian Bank held the founders’ assembly in July 2001 by virtue of the Act for Establishment of Non-Governmental Banks ratified in April 2000. Parsian Bank obtained business permission from the Central Bank of the I.R. of Iran. Parsian Bank’s opened for business in March 2002 upon concurrent inauguration of four branches.
Tejarat Bank was established as per the legal bill of the Department of Banks’ Affairs approved in September 1979 upon amalgamation of eleven private banks. Later, on 20/12/1979, the Iran-Russia Bank also joined the merger, totaling the paid up capital to 39.1 billion Rials. Twenty six years on, as per economic requirements of different regions of the country, Tejarat Bank is now maintaining 2010 branches throughout the country. Taking advantage of experienced manpower is an important factor that has further promoted Tejarat Bank’s place on the international standings.
Bank Keshavarzi was founded in 1933 as Farming and Industrial Bank. Today, having 71 years of experience, it serves as the only specialized financial institution in the agricultural sector that holds over 1800 branches nationwide and finances nearly 70% of the sector. Focusing on the importance of electronic banking, BK has initiated its major project on the electronic banking since 2001 under the title of MEHR, i.e. smart computer management.
Bank Saderat Iran (BSI) has the largest network of branches within Iran. The bank currently holds 23% of the total personnel and 29% of the branches of all commercial banks. The bank has 3,313 domestic branches and overseas branch offices located, in France, Bahrain, Egypt, UK, Greece, Oman, Qatar, Turkmenistan, Germany, UAE, and Lebanon. BSI has currently correspondent banking relations with more than 700 foreign banks.
The first Iranian bank, Bank Sepah was established in 1925, corresponding to the Iranian year 1304.Running three branches in Frankfurt am Main, Paris and Rome, and at the same time parenting Bank Sepah International plc London, as its wholly-owned subsidiary.
The Central Bank of Iran (CBI) was established in 1960 (1339 solar year). As stated in the Monetary and Banking Act of Iran (MBAI), CBI is responsible for the design and implementation of the monetary and credit policies with due regard to the general economic policy of the country.
"Bank of Industry and Mine" as a developing bank is the most important device and organization which endeavors for helping economic growth through development of industries and mines. Its purpose is to be an economic enterprise for applying banking procedures and capabilities, developing and investing in order to advance Iran’s economic situation and to prepare suitable grounds for cooperation and participation of private sector by use of all potential facilities such as: organizations, processes and appropriate devices in the field of industries, mines, modern technologies and their associated services.
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