Iranian Entity: Bank Refah Kargaran

www.refah-bank.ir
www.bankrefah.ir

info@bankrefah.ir

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 February 17, 2011, freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems; according to the U.S. Treasury Department, was designated for providing financial services to Iran's Ministry of Defense and Armed Forces Logistics (MODAFL) and Iran Aircraft Manufacturing Industrial Company (HESA) (see separate entity records); facilitated millions of dollars of purchases by MODAFL of weapons-related items, including missiles and tanks, according to the U.S. Treasury Department, as well as items that enabled Iran to maintain of its fighter jets and submarines; facilitated payments from HESA to companies and individuals involved in weapons-related procurement for Iran.

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; with some exceptions, European Union member states must freeze all funds and economic resources owned, held or controlled by the listed entity, and prevent funds or economic resources from being made available to it; according to the European Union, "took over Bank Melli's outstanding transactions following the sanctions imposed on the latter bank by the European Union" (see separate entity record); sanctioned by the governments of Australia, Japan, South Korea, Norway, and Switzerland, restricting business and financial transactions with the entity and/or freezing its assets in those countries; listed by the British government in 2011 as an entity of potential concern for WMD-related procurement; designated by the U.S. Treasury Department as a bank owned or controlled by the Government of Iran, prohibiting new investments by U.S. persons and most servicing by U.S. depository institutions.

Seyed Zia Imani serves as chairman of the board and managing director; SWIFT code: REFAIRTH; jointly founded Belarus-based Onerbank in cooperation with Saderat Bank of Iran and the Export Development Bank of Iran (see separate entity records); established in 1960.