Bank Refah Kargaran

Also Known As: 

Workers Welfare Bank
Bank Refah
Banque Refah
Bank Refah Karegaran
R.K. Bank
Refah Bank
Refah Kargaran Bank
Workers' Welfare Bank (of Iran)
BRK

Weapon Program: 

  • Missile
  • Military

Address: 

- Moffettah No. 125, P.O. Box 15815-1866, Tehran, Iran
- No.125- Mofatteh Cross- Taleghani Ave.- Tehran, Iran
- 40, North Shiraz Street, Mollasadra Ave., Vanak Sq., Tehran, Iran
- No.186 - North Shiraz St - Mollasadra Ave - Vanak Sq - Tehran, 1991756783, Iran
- Shahid Mofatteh Building, 125, Moffateh Crossroad, Talleghani Ave., Tehran, Iran

Phone: 

+98-21-88042875, +98-21-88041392, +98-21-88049973, +98-21-88065110

Fax: 

+98-21-804-9973

E-Mail: 

info@bankrefah.ir

Entity Web Site: 

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

Has provided financial services to entities in Iran's defense sector.

Has provided financial services to Iran's Ministry of Defense and Armed Forces Logistics (MODAFL) and Iran Aircraft Manufacturing Industrial Company (HESA); facilitated millions of dollars of purchases by MODAFL of weapons-related items, including missiles and tanks, 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; processed outstanding transactions for Bank Melli following the sanctions imposed on Bank Melli by the European Union.

CEO is Dr. Ali Sedghi; board chairman is Dr. Mohammad Hossein Mahdavi Adeli; SWIFT code: REFAIRTH; jointly founded Belarus-based Onerbank in cooperation with Saderat Bank of Iran and the Export Development Bank of Iran (EDBI); established in 1960.

Sanctions

As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions.

Previously appeared on the SDN list, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery 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 July 26, 2010 as an entity linked to Iran's proliferation-sensitive nuclear activities or Iran's development of nuclear weapon delivery systems; removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action.

Formerly sanctioned by the governments of Australia, Canada, and Japan; Australian, Canadian, and Japanese sanctions removed in 2016. 

Listed by the British government in 2015 as an entity of potential concern for WMD-related procurement, but removed in 2017 after the U.K. withdrew its Iran list.

Mentioned Suspect Entities & Suppliers: 

Date Entered: 

March 2, 2011

Date Last Modified: 

December 10, 2018