Future Bank

Also Known As: 

Future Bank
Future Bank BSC (c)
Future Bank B S C (Closed)

Weapon Program: 

  • Military

Address: 

- Post Box 785, Manama, Kingdom of Bahrain
- City Centre Building, Government Avenue, Manama, Kingdom of Bahrain
- Block 304, City Centre Building, Building 199, Government Avenue, Road 383, Manama, Bahrain
- Shop No. 199, Building 203, Government Road, Manama 304, Kingdom of Bahrain
- Flat 51, Building 122, Road 1605, Block 316, Manama, Bahrain
- P.O. Box 22309, Muharraq, Kingdom of Bahrain (Muharraq Branch)
- Shop No 270, Sheikh Hamad Road, Muharraq - 211, Kingdom of Bahrain (Muharraq Branch)
- P.O. Box 70115, Sitra, Kingdom of Bahrain (Sitra Branch)
- Shop No 57 Z, West Al Eker, Road 4203, Block 624, Sh. Jabber Al Ahmed Al Sabah, Sitra, Kingdom of Bahrain (Sitra Branch)
- No. 25, Tandees Avenue, Africa Highway, Tehran, Islamic Republic of Iran (Tehran Representative Office)

Phone: 

(973) 17210393, (973) 17210396, 97317505016, +973-1750 5000 (Main Branch), +98 21 22053351 (Tehran Representative Office), +98 21 22053352 (Tehran Representative Office)

Fax: 

(973) 17225213, +973-1722 4402 (Main Branch), +98 21 26201311 (Tehran Representative Office)

E-Mail: 

futurebk@batelco.com.bh
info@futurebank.com.bh

Entity Web Site: 

www.futurebank.com.bh

Established as a joint venture project between Bank Saderat IranBank Melli Iran, and Ahli United Bank (AUB) Bahrain; focus is wholesale investment banking between Iran and the GCC countries.

Has three branches and an Offshore Banking Unit in Bahrain, as well as a representative office in Tehran; board of directors includes Abdolnaser Hemmati, Hamid Borhani, A. Aziz Ahmed A. Malek, Adel Al Mannai, Gholam H. Zaferani, Mohammad Reza Pishrow, Gholam Souri, and Abbas Fatemi Torshizi; past directors have included Mr. Ali Sedghi, Valiollah Seif, and Shahram Razavi.

In April 2015, placed under administration by the Central Bank of Bahrain, which reportedly is taking steps to close the bank; Business Registration Document #54514-1 expired June 9, 2009; Trade License No. 13388; established in July 2004.

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 13224, which targets terrorists and those providing support to terrorists or acts of terrorism; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions; also designated pursuant to Executive Order 13599 and the Iranian Financial Sanctions Regulations; foreign financial institutions facilitating transactions for the entity may be prohibited from opening or maintaining correspondent or payable-through accounts in the United States.

Previously added to the SDN list on March 12, 2008, 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.

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: 

August 27, 2008

Date Last Modified: 

December 10, 2018