IRAN: 4 BANKS AND A NON-BANK FINANCIAL INSTITUTION BEING MERGED WILL NOW COMBINE WITH THE STATE-OWNED BANK SEPAH

On 3 March, Kenneth Rijock in his blog reported an announcement from the Central Bank of Iran. The institutions are named as the ANSAR BANK (aka ANSAR FINANCE AND CREDIT FUND) – said to be owned by IRGC;  HEKMAT IRANIAN BANK (aka BANK-E HEKMAT IRANIAN) – said to be owned by the army; BANK QAVAMIN (aka BANK GHAVAMIN); and BANK MEHR EGHTESAD (formerly MEHR FINANCE AND CREDIT UNION) – said to be owned by a security and paramilitary force.    

http://rijock.blogspot.com/2019/03/alert-on-curious-merger-of-iraniian.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017