Risk Level:
89% May harm your business future;

This entity is connected with designated / sanctioned entities who are helping Iranian Regime Terrorist Activities & development of WMD

High Alert – Entity affiliated with Designated / Sanctioned / Illicit entities

Astan Quds Razavi is a bonyad based at Mashhad, Iran. It is the administrative organization which manages the Imam Reza shrine and various institutions which belong to the organization. The administrative apparatus of Astan Quds Razavi is considered the longest-lasting organization since the martyrdom of Imam Reza about 1200 years ago. The main resource of the institution is endowments. The Astan Quds Razavi is a major player in the economy of the city of Mashhad;

Astan Quds Razavi” is under the control and supervision of the Iranian regime’s supreme leader Ali Khamenei. No one is allowed to question this huge financial system, and it is exempt from paying taxes. Supreme Leader Ayatollah Ali Khamenei directly appoints the heads of many of Iran’s largest bonyads, including the Mashhad-based Astan Quds Razavi. Astan Quds Razavi nominally manages Iran’s holiest site, the Imam Reza Shrine in Mashhad;

Astan Quds Razavi, which had the current Chief Justice, Ebrahim Raisi, at its head until recently, is a massive business corporation with a real-estate portfolio worth an estimated $20 billion, which effectively functions as a slush fund for Iran’s supreme leader. Last year, the foundation established a new bonyad called the Keramat Bonyad which took the connection between the foundation and the IRGC to a whole new level. The head of this Bonyad is Hossein Yekta, the former Commander of the Khatam al-Osya Headquarters, which works under the Khatam Al Anbiya Construction Headquarters;

Astan Quds Razavi is one the regime’s most vital and well-entrenched economic organs. Is custodianship of the Imam Reza Shrine in Mashhad is complemented by its ownership of diversified financial interests in various sectors of Iran’s economy. its economic interests are handled chiefly via its economic wing, the Razavi Economic Organizaiton (REO). Astan Quds Razavi maintains a vast network of companies through its economic wing, the Razavi Economic Organization (REO). REO’s diverse and far-reaching commercial interests are active in nearly every sector of the Iranian economy, including construction, heavy manufacturing, oil and gas, transportation, financial services, information technology, sugar and yeast production, and carpet manufacturing. Its companies also operate regionally, including in Syria and Iraq;

According to the organizers like Nader Talebzadeh, AQR financed the New Horizon’s 6th international conference held in May 2018. making it the New Horizons’ de facto sponsor;

Astan-e Quds Razavi has played an active role in providing financial, material and logistical support to fundamentalist and terrorist groups within the last few years. Particularly, the heads of AQR have vast relations with Hezbollah’s top officials. It is worth noting that these activities within the past few years have been expanding;

Also Known As:
Astan-e Qods-e Razavi


Mashhad, Khorasan Razavi, Iran



Person of interests:
Ahmad Marvi (Custodian and Chairman of the supervisory board)
Reza Fatemi Amin (President and CEO)

Quds Razavi Bread Company (Private Shares)
Razavi Oil and Gas Development Company (Private Shares)
Ghods Niroo Engineering Company (Private Shares)
MAPNA Group Company
Shahab Khodro Company (Public Shares)
Fava Razavi, or Razavi Information and Communication Technology Company (Private Shares)
Razavi Housing and Construction Company (Private Shares)

Reason for the color:
» Astan Quds Razavi – Report;

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IFMAT Color Guide

We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
Designated / Sanctioned / Illicit entities
Entities affiliated with Designated / Sanctioned / Illicit entities.
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
Entities in a problematic sector - Sector controlled by the Top Alert entities.
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.