• Login/Register
  • Section: Entity /Sunday 12th October 2014

    Alphabetic Index : A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

    Search β):

    * Saderat Bank of Iran *

    بانک صادرات ایران‎


    Iranian_Flag_Hand_Love_Heart.jpg
    (Wikipedia) - Bank Saderat Iran   (Redirected from Saderat Bank of Iran) Bank Saderat Iran Type Traded as Industry Founded Headquarters Area served Key people Products Revenue Total assets Employees Website
    Public
    TSE: BSDR1 ISIN: IRO1BSDR0003
    Financial services
    1952
    Tehran, Iran
    Middle East Asia Europe
    Mohammad Reza Pishro (CEO) Dr.ghorbane Daniali(Chairman)
    Finance and Insurance Retail banking Commercial banking Investment banking Investment management Private Equity Private banking Credit cards
    US$ 6.1 billion (2011)
    US$ 49.8 billion (2011)
    29,379
    www.bsi.ir

    Bank Saderat Iran (BSI, Persian: بانک صادرات ایران‎, lit. The Export Bank of Iran) is an Iranian Bank. Bank Saderat Iran was founded by the prominent Mofarrah and Bolurfrushan families, commenced operation on 13 November 1952 with a board of three directors and 20 employees. It quickly became the largest privately owned bank in the region with branches in Hamburg, Paris, London and New York. As of 2006, it operates 3,248 branches and has over 30,000 employees. Saderat Bank of Iran is one of the largest banks in the Middle East. Saderat Bank of Iran has 28 international branches and services in 12 countries:

    Contents

    Location of branches History

    On 7 June 1979, after the Iranian Revolution, all Iranian private banks were nationalized, quite to the dismay of the founding families, and became state-owned. In 1980, branches and sub-branches of BSI in the Iranian provinces were turned into independent banks, named Bank Saderat Ostan (province). Today, BSI has 29 owned provincial bank subsidiaries and over 200 affiliated companies, supervised by Ghadir Investment Company. Iranian banks are administered on the basis of a law passed by the Islamic Revolution Council on 25 September 1979, and the provisions of its Articles of Association.

    According to the U.S. Department of the Treasury, Bank Saderat is used by the Government of Iran to transfer money to what the US considers to be terrorist organizations, including Hezbollah, Hamas, the Popular Front for the Liberation of Palestine-General Command and Palestinian Islamic Jihad.

    Under the current Iranian Transactions Regulations (31 CFR Part 560), U.S. banks may process certain funds transfers involving an Iranian bank, such as transfers for authorized or exempt transactions and "U-turn" transactions. U-turn transactions allow U.S. banks to process payments involving Iran that begin and end with a non-Iranian foreign bank. Bank Saderat will not be able to participate in any transfers involving U.S. banks, effective from the date that the amendment to the regulations is filed with the U.S. Federal Register. By prohibiting U-turn and all other transactions with Bank Saderat, the bank is denied all direct and indirect access to the U.S. financial system.

    Bank Saderat Iran currently conducts banking in the UAE, handling Iranian trade in and out of Dubai. Bank Saderat''s profits are the 3rd highest among foreign Banks within UAE. The bank mainly deals in project financing, letters of credit (LCs) and bank guarantees (demand guarantees), whereas other activities remains less important.

    In February 2013, the European General Court in Luxembourg ruled to annul sanctions by the European Union against the bank, stating that the EU "is in breach of the obligation to state reasons and the obligation to disclose to the applicant ... the evidence adduced against it". The EU may appeal the decision.

    Tags:Abu Dhabi, Afghanistan, Arab, Ashkhabad, Asia, Athens, Bahrain, Bank Saderat, Beirut, Doha, Dubai, EU, Emirates, Europe, European Union, Export, France, Frankfurt, Germany, Ghadir, Greece, Hamas, Hamburg, Hezbollah, Iran, Iranian, Iranian Revolution, Islamic, Islamic Revolution, Jihad, Kabul, Lebanon, London, Manama, Middle East, Muscat, New York, Oman, Palestine, Palestinian, Paris, Persian, Qatar, Revolution, Saderat Bank of Iran, Tashkent, Tehran, Turkmenistan, UAE, US, United Arab Emirates, United Kingdom, Uzbekistan, Website, Wikipedia


    Website:http://in.bsi.ir/Home/default.bsi



    Add definition or comments on Saderat Bank of Iran

    Your Name / Alias:
    E-mail:
    Definition / Comments
    neutral points of view
    Source / SEO Backlink:
    Anti-Spam Check
    Enter text above
    Upon approval, your definition will be listed under: Saderat Bank of Iran





    Happy Summer Sale

    Home About us / Contact    Products    Services    Iranian History Today    Top Iran Links    Iranian B2B Web Directory    Historical Glossary
    Copyright @ 2004-2016 fouman.com All Rights Iranian