EN Bank

Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Info:
Established in 2001 following authorization from the Central Bank of the Islamic Republic of Iran (CBI), EN Bank (Bank Eghtesad Novin) is the Islamic Republic of Iran’s first private bank. A group of industrial, construction and investment companies launched the bank, with the aim of providing flexible financial services to the Iranian private sector;

According to EN bank official website, the following companies are mentioned as their shareholders:
– Iran Construction Investment Company – 9.5%
– Samaneh Stratus Investment Company – 8.9%
– Behshahr Industrial Group Construction Company – 8.8%
– Behpakhsh Company – 8.7%
– Javanan Housing Company – 8.5%
– Behshahr Group Investment Company – 7.3
– Tehran Renovation and Construction Company – 6.9
– Behpak Industrial Company – 5.7%
– Sugar Management Company – 5.6%
– Iran Zinc Mines Development Company – 0.5%

According to U.S. Treasury Department Behshahr Industrial Development Corporation it is owned and controlled by Tose-e Melli Group Investment Company. Entity owned by Bank Melli;

Iran Zinc Mines Development Company is designated by the U.S. Treasury Department for being owned or controlled by Taktar Investment Company. And Taktar investment Company is owned and controlled by Mehr Bank;

Iranian Eghtesad Novin Bank has invested $120 million for establishing the Islamic Regional Cooperation Bank for Development and Investment. The Iranian bank shares 68 percent of the joint bank’s capital;

Industry:
Financial services

Also Known As:
Eghtesad Novin Bank
Modern Economy Bank
Bank-E Eghtesad Novin
EN Bank PJSC

Established:
2001

Country:
Iran

Address:
Vali Asr Street, Above Vanak Circle, across Niayesh, Esfandiari Blvd., No. 24, Tehran, Iran

Phone:
+98 21 8233 0000

Website:
www.english.enbank.ir

E-mail:
[email protected]

Person of interests:
Kamran Eghtesad – (Co-founder)
Alireza Bolgouri – (CEO)
Ali Mohammad Eghtesad
Shahla Eghtesad
Nosratallah RoshanZamir
Belgheis Fallahi

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on November 05, 2018;

You May Be Interested