Middle East Bank

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Middle East bank
TypePrivate company
IndustryBanking
FoundedNovember 1, 2012 (2012 -11-01)
Headquarters
Tehran
,
Iran
Key people
Parviz Aghili Kermani (CEO)
Websiteen.middleeastbank.ir

Middle East Bank (MEB; Persian: بانک خاورمیانه, lit. 'banke khavarmiyane') is an Iranian bank headquartered in Tehran. The bank was founded in 2012 by Parviz Aghili Kermani.[1][2][3]

MEB is owned by small private shareholders. They focus on the humanitarian trade with Iran.[4][5]

On 8 October 2020 OFAC (U.S. Department of the Treasury) changed its sanctions listing. Middle East Bank is - alongside with all other Iranian banks - SDN-listed and “Subject to Secondary Sanctions”. It is however one of the few banks tagged "IRAN" (categorization as an Iranian financial institution) only and therefore maintained its SWIFT BIC. With the General License published on the same day Middle East Bank can fully maintain its support of the humanitarian business. The up-to-date sanctions status can be found at the following link: https://www.middleeastbank.de/sanktionsstatus/.[6]

History[]

Founded on 1 November 2012, the bank began operations in January 2013 and by May, 3 branches had been established with 1.4tn rials in deposits. In August 2014 they became subject to US sanctions as part of the wider sanctions against Iran.[4]

In 2018 they opened their first branch in Germany.[7][8]

Middle East Bank
Middle East Bank banking hall

See also[]

  • Bank Markazi Iran
  • Economy of Iran
  • Islamic Banking
  • Banking and Insurance in Iran

References[]

  1. ^ Reuters Editorial. "Iran's Middle East Bank says global banking snags starting to ease". U.S. Retrieved 2018-07-07.
  2. ^ "Company Overview of Middle East Bank Co".
  3. ^ "Capital Increase for Middle East Bank". Financial Tribune. 2017-12-29. Retrieved 2018-07-07.
  4. ^ a b Saul, Jonathan. "Iranian banking newcomer struggles as fear of sanctions hits..." U.S. Retrieved 2018-09-23.
  5. ^ Bozorgmehr, Najmeh (7 May 2013). "Obstacles fail to deter financier from opening private Iran bank". Financial Times.
  6. ^ "4 Iranian banks removed from US sanctions list". ISNA. 2018-11-11. Retrieved 2018-11-17.
  7. ^ "Iran banks to set up shop in Germany". Retrieved 2018-09-23.
  8. ^ "Middle East Bank und Sina Bank: Iranische Banken wollen Filialen in München eröffnen" (in German). Retrieved 2018-09-23.

External links[]

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