Tag Archives | Bank Mellat

Korean Credit Line to Finance Refinery Project

A project to optimize Iran’s Isfahan Refinery will be financed by a South Korean credit line. South Korea will provide €1.9 billion worth of credit for upgrading and optimizing the refinery. Alireza Arman, Consolidated Planning Manager of National Iranian Oil Products Refining and Distribution Company (NIOPDC), said: “A contract for improving process and optimizing Isfahan […]

Austria Signs Major Finance Deal with Iran

Austria’s Oberbank has signed a credit deal with Tehran to boost exports to Iran, the first European lender to do so since anti-Tehran sanctions were lifted following the 2015 nuclear deal between the Islamic Republic and world powers. Oberbank said the framework agreement will finance Austrian investment projects in Iran’s infrastructure, healthcare and plant construction […]

Iran Signs €500m Deal with Danske Bank

By John Lee. Danske Bank has signed a €500-million finance deal with a group of Iranian banks. Under the agreement, the Danish bank will allocate resources to finance construction and production projects of the private and public sector in Iran. The Iranian banks involved include: Bank Mellat, Bank Pasargad, Bank Sepah, Parsian Bank, Saman Bank, […]

Bank Mellat Shares Lose 37.5% in One Day

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The sudden and sharp fall in the main index of the Tehran Stock Exchange (TSE) on Jan. 24 came as a real shock to investors. After allowing the resumption of trade in Bank Mellat shares, […]

CBI Boss to Chair Islamic Financial Services Board

By John Lee. The Council of the Islamic Financial Services Board (IFSB) has appointed Dr. Valiollah Seif, Governor of Central Bank of Iran (CBI), as its Chairman for 2017. Dr. Seif is a veteran of banking and finance, and is one of the most distinguished figures in the Iranian banking system. He has a PhD in […]

Top Iranian Banks dragged into Political Row

By John Lee. Bloomberg reports that several of Iran’s biggest banks have been dragged into a fight between the government and its hardline opponents, as disputes over last year’s nuclear deal roil domestic politics months ahead of presidential elections. The nation’s leading conservative newspaper published photos of letters purportedly sent by two lenders, Bank Mellat […]

Accusations of Corruption grow at Bank Mellat

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Tehran public prosecutor Abbas Jaffar Dowlatabadi sat down with reporters and divulged new information about the corruption cases that have rocked Iran in recent weeks. On the arrests at Bank Mellat, Dowlatabadi said that it […]

Bank Bosses Sacked in Salaries Scandal

By John Lee. Middle East Eye reports that the heads of four major public banks have been sacked following revelations that they can earn $65,000 per month – 100 times Iran’s average. “At the request of the president to investigate the issue of salaries, the heads of Mehr Iran, Mellat, Refah and Saderat banks have […]

Bank Mellat to Pursue Damages against Britain

Iran’s Bank Mellat in Talks with Lawyers to Pursue Damages against Britain Iran’s Bank Mellat has held a number of meetings with international lawyers to seek $4-billion damages against Britain after a recent ruling by the European Union’s top court which said the bank’s assets should not have been frozen from 2010. In a recent […]

26 Iranian Banks Now Connected to SWIFT

Four more of Iran’s banks have been reconnected to SWIFT, the global provider of secure financial messaging services. They are all the foreign branches of key Iranian banks and include the Yerevan branch of Bank Mellat, the Dushanbe branch of Tejarat Bank and the branches of Bank Melli Iran in Baku and Baghdad. Iranian media […]

Bank Mellat to Reopen Seoul Branch

Bank Mellat, Iran’s largest private lender, plans to reopen its branch in Seoul, South Korea, next month. The bank also expects to be reconnected with the SWIFT payment network. It is also claiming $4 billion from Britain’s Treasury for unlawful imposition of sanctions. (Source: EmergingMarkets)

European Court: Iran’s Bank Mellat ‘Unfairly Sanctioned’

By John Lee. The European Court of Justice has ruled that Iran’s Bank Mellat was unfairly sanctioned by having its assets frozen due to alleged involvement in nuclear proliferation. The European Council had claimed that Bank Mellat, which is 80 percent owned by private Iranian investors and 20 percent by the Iranian state, supported and facilitated […]