Bank of Industry and Mine

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

Info:
A state-owned development bank that provides financing for industrial and mining projects in Iran;

Bank of Industry and Mine (BIM) is designated on November 5, 2018, pursuant to E.O. 13382 for having provided, or attempted to provide, financial, material, technological, or other support for, or goods or services in support of, Bank Sepah. As of 2018, BIM provided bank account services for Bank Sepah, including engaging in the exchange of Iranian rials for euros for the benefit of Bank Sepah. BIM coordinated the transfer of the equivalent of millions of dollars’ worth of euros for the benefit of Bank Sepah;

Facilitated transactions that enabled several Iranian banks, including Bank Mellat, Bank Saderat Iran, and Europaeisch-Iranische Handelsbank (EIH Bank) to circumvent international sanctions by concealing their involvement in payments, has held a majority equity stake in EIH Bank; has provided financing to Iran Khodro Company and Kavian Petrochemical, a subsidiary of National Petrochemical Company;

Listed by the European Union in 2012 as an entity linked to Iran’s nuclear or ballistic missile activities, removed from the list in 2016;

Also Known As:
Bank Sanat Va Madan
Bank Sanad Va Madan
Bank Sanat-O-Madan
Bank Sanat o Madan
Bank of Industry and Mine (Of Iran)
Bank of Industry & Mine
BIM

Involved In:
Military Weapon Program

Established:
1979

Country:
Iran

Address:
– Hafez Avenue, P.O. Box 11365/4978, Tehran, Iran
– PO Box 15875-4456, Firouzeh Tower, No 1655 Vali-Asr Ave after Chamran Crossroads, Tehran 1965643511, Iran

Phone:
+98 21 22029811-19

Web Site:
www.bim.ir

E-Mail:
[email protected]

Person of interests:
Mohammad Reza Pishrow (managing director and chairman);
Ghorban Danialy (deputy managing director);
Afshin Roghani;
Gholam Abbas Nematollahi;
Mohammad Shahrabi Farahani;

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 5, 2018 pursuant to Executive Order 13382 for having provided, or attempted to provide, financial, material, technological, or other support for, or goods or services in support of, Bank Sepah;
» The U.S. Department of the Treasury designate Bank of Industry and Mine (BIM), an Iranian state-owned bank used by the Government of Iran to evade U.S. and international sanctions against Iranian financial institutions involved in facilitating transactions in support of Iran’s proliferation activities. BIM was designated today pursuant to Executive Order (E.O.) 13382 for providing financial services to Bank Mellat and Europaisch Iranische Handelsbank (EIH), two Iranian banks previously designated by Treasury in connection with Iran’s proliferation activities. E.O. 13382 is aimed at freezing the assets of proliferators of weapons of mass destruction (WMD) and their supporters, thereby isolating them from the U.S. financial and commercial systems;
» Removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action, but identified as a part of the Government of Iran, prohibiting transactions with U.S. parties;
» Listed by the European Union on October 16, 2012 as an entity linked to Iran’s nuclear or ballistic missile activities;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;

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