Iran's Military Steps Back From Economy with Six-Way Bank Merger

March 2, 2019


Ladane Nasseri and Golnar Motevalli



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  • Iran

Iranian state-run Bank Sepah is taking over five Iranian banks linked to the military, including Ansar Bank, Ghavamin Bank, Hekmat Iranian Bank, Mehr Eqtesad, and the Kowsar financial credit institution. This consolidation is an apparent effort to reduce the military’s role in the economy and make it easier for Iran's Central Bank to enforce regulations on investment and financial transparency.