Also Known As:
IRGC Cooperative Foundation
Sepah Cooperative Foundation
Bonyad-e Ta'avon-e Sepah
The Cooperative Foundation of the Revolution Guards
Cooperative Foundation of the Revolutionary Guards
Niayes Highway, Seoul Street, Tehran, Iran
Formed by the Islamic Revolutionary Guard Corps (IRGC) to structure IRGC investments; listed by the European Union on May 23, 2011 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; designated by the Canadian government in November 2011 as an entity contributing to Iran's proliferation-sensitive nuclear activities or to its development of chemical, biological or nuclear weapons or their delivery systems; designation prohibits Canadian parties from providing goods or financial services to the entity or dealing in property held by the entity; on December 21, 2010, added 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 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems. Controlled by the IRGC; the nine-member Board of Trustees is comprised of the IRGC Commander in Chief (chairman), Supreme Leader's representative to the IRGC, Basij commander, IRGC Ground Forces commander, IRGC Air Force commander, IRGC Navy commander, head of the IRGC Information Security Organization, a senior IRGC officer from the Armed Forces General Staff, and a senior IRGC officer from the Ministry of Defense Armed Forces Logistics (MODAFL). Formed Ansar Bank and Mehr Bank; reportedly wholly-owns Kesht va Sanaat Shadab Khorasan, Khadamat Havai Pars, and Maede; other subsidiaries reportedly include the Tawse'e-ye E'temad and the Shahriar-e Mehestan investment companies; reportedly owns equity stakes in Bahman Group (45%) and Kermanshah Petrochemical Plant (25%); reportedly affiliated with the Sabrin Horizon Development Engineering Company, which reportedly imports satellite jamming devices. Executive Director, Parviz Fattah, was also added to OFAC's SDN List on December 21, 2010; deputy director is reportedly Mehrdad Bazrpash; established in 1986.