Export Development Bank of Iran

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

Info:
A state-owned export and import bank involved in non-oil exports from Iran, has been involved in facilitating proliferation-related procurement;

The Export Development Bank of Iran (EDBI) is designated pursuant to E.O. 13224 for assisting in, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, MB Bank. Three other entities are being designated pursuant to E.O. 13224 for being owned or controlled by, or for acting for or on behalf of, EDBI: EDBI Stock Exchange, EDBI Exchange Brokerage, and Banco Internacional de Desarrollo, C.A. Additionally, the Iran-Venezuela Bi-National Bank is being designated pursuant to E.O. 13224 for assisting in, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, EDBI;

According to the U.S. Department of the Treasury, has provided financial services to Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) and several of its subordinate entities, and has facilitated procurement activities by front companies associated with MODAFL;
Also has allegedly served as an intermediary handling financing (including WMD-related payments) for Bank Sepah after that bank’s designation by the United States and United Nations in 2007, and has facilitated financing for other U.S. and U.N.-sanctioned entities;

Provides financial, banking, and advisory services to Iranian exporters and their foreign clients; finances international trade, conducts correspondent banking and bank transfers, and issues lines of credit; provides lines of credit to the Syrian government for the financing of imports and project implementation, in November 2015, signed an agreement on banking cooperation with RFC Bank of Russia, in August 2015, financed the construction of an electricity transfer line between Iran and Armenia;

Reportedly finances projects in Latin America, Africa, and Asia, including cement plants in Venezuela and Syria, in August 2015, was reportedly involved in negotiations on banking cooperation with the Bank of China;

Owns 23% of Belarus-based Honor Bank;

Established the Iranian-Venezuelan Bi-National Bank in Tehran as a joint venture with Banco Industrial de Venezuela;

Also Known As:
EDBI
Bank Toseh Saderat Iran
Bank Towseeh Saderat Iran
Bank Tosee Saderat Iran
Iranian Export Development Bank
Iran’s Exports Development Bank (IEDB)

Involved In:
Military Weapon Program

Established:
1991

Country:
Iran

Address:
Tose’e Tower, Corner of 15 St., Ahmad Qasir Ave., Argentina Sq., Tehran, Iran
No. 129, 21’s Khaled Eslamboli, No. 1 Building, Tehran, Iran
No. 4, Gandhi Ave., Tehran 15167, Iran

Phone:
98 (21) 88702130

E-Mail:
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]

Web Site:
www.edbi.ir
www.edbi.org
www.edbi-iran.com

Person of interests:
Ali Salehabadi

Subsidiaries:
Banco Internacional de Desarrollo, C.A. (Venezuela) (B.I.D.)
EBDI Stock Brokerage
EDBI Exchange Brokerage (EDBI Exchange Company)

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 13224 for assisting in, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, MB Bank;
» 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;
» 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 October 22, 2008, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;
» Listed by the European Union on July 26, 2010 as an entity linked to Iran’s proliferation-sensitive nuclear activities or Iran’s development of nuclear weapon delivery systems;

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