IFIC Owns 40.15% of the Misr Iran Development Bank

According to the Misr Iran Development Bank from Egypt annual report, Iran Foreign Investment Company (IFIC) owns 40.15% of its shares;

Iran Foreign Investment Company (IFIC) is an entity that is owned or controlled by the Government of Iran;

Iran Foreign Investment Company is beign designated by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on August 3, 2010, but sanctions were removed in January 2016 as part of the Joint Comprehensive Plan of Action.

IFIC was also used by the Iranian mullah to invest money arount the world, invest in Europe companies which later supported Iran’s nuclear and missile program.

Ifmat - Misr Iran Bank Shares

ifmat - Misr Iran Bank Shares2

Source: / midb.com.eg/staticpages.aspx?id=1 /

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