Owned by the government of Iran; has acted on behalf of Bank Sepah, carrying out its transactions in order to circumvent sanctions.

In 2009, facilitated business on behalf of Bank Sepah between Iran's defense industries and overseas beneficiaries, according to the European Union; facilitated business with a front company for North Korea's Tanchon Commercial Bank, which is known for facilitating proliferation-related business with Iran.

Director is Khosrow Farhi; board members have included Mahmoud Hassanzadeh, GH Sabbaghi, Mahmoud Afzali, Rohallah Kohdarahmi, Ali Nemati, Gholamreza Kateb, Mahmmoud Haratian Nejadi, and Adel Ghobadizadeh; SWIFT code is PBIRIRTH; established in 1995.

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 13382, which targets proliferators of weapons of mass destruction and their delivery systems; 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 June 16, 2010, pursuant to Executive Order 13382; 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 Canadian government 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.

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.