Named in U.N. Security Council resolution 1803 of March 3, 2008, as a bank domiciled in Iran whose activities could contribute to proliferation; countries are called upon to “exercise vigilance” over activities between the bank and financial institutions in their territories; listed by the European Union on August 8, 2008, pursuant to U.N. Security Council resolution 1803, as a bank with respect to which E.U. member states should “exercise vigilance” due to concerns that activities involving the bank could contribute to proliferation sensitive nuclear activities or to the development of nuclear weapon delivery systems; designated by the U.S. Department of the Treasury on October 25, 2007, pursuant to Executive Order 13224, which targets terrorists and their supporters, freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties; pursuant to U.S. Executive Orders 12957 and 12959, designated as a bank controlled by the Iranian Government, prohibiting new investments by U.S. persons and most servicing by U.S. depository institutions.
According to the Treasury Department, was used by the Government of Iran to channel funds to terrorist organizations, including Hizballah, Hamas, the PFLP-GC (Popular Front for the Liberation of Palestine-General Command) and the Palestinian Islamic Jihad.
One of the largest Iranian-owned banks; banking network includes over 3000 branches, including 21 foreign branches and 3 regional offices in Afghanistan, Bahrain, England, France, Germany, Greece, Lebanon, Oman, Qatar, Turkmenistan, the United Arab Emirates, and Uzbekistan; foreign banking network includes Bank Saderat PLC in London (100% owned by Bank Saderat Iran), Bank Saderat Tashkent in Tashkent (100% owned by Bank Saderat Iran), Future Bank in Bahrain (a joint venture with Bank Melli Iran and Bahrain’s Ahli Bank), and Arian Bank in Kabul (a joint venture with Bank Melli Iran); management includes Ghodratollah Sharifi (chairman), Dr. Mohammad Jahromi (managing director), and Mahdi Fatahi, Dr. Hojatollah Saydi, and Bahman Vakili (board members), as of January 2010; established in 1952; state-owned since 1979; in June 2009, offered 6% of its shares on the Tehran Stock Exchange.
Source: / Iranwatch /