Controlled by Bank Mellat, which has facilitated hundreds of millions of dollars in transactions for Iranian nuclear, missile, and defense entities.

Wholly owns Pearl Energy Company Ltd.

Directors have included Dr. Ali Divandari, Ali Afzali, and Younes Hormozi Sheikh Tabahg.

Business Registration Number (Malaysia) is LL06889; Licensed Offshore Bank Number is 090101B; SWIFT Code is FEEBMYKA.

Began commercial operations as a licensed offshore bank on August 16, 2009; banking license suspended by the Labuan Financial Services Authority in December 2010.

Sanctions

Designated by the U.N. Security Council on June 9, 2010, pursuant to resolution 1737 (2006), as an entity involved in or supporting Iran's proliferation-sensitive nuclear activities or development of nuclear weapon delivery systems; with some exceptions, the designation requires states to freeze assets that are owned or controlled by the entity, directly or indirectly, and to ensure that assets are not made available to the entity.

Previously removed from the U.N. list on January 16, 2016, pursuant to the Joint Comprehensive Plan of Action (JCPOA); returned to the U.N. list on September 28, 2025, as part of the reimposition of sanctions on Iran.

Listed by the European Union on June 19, 2010, as an entity linked to Iran's proliferation-sensitive nuclear activities or Iran's development of nuclear weapon delivery systems; with some exceptions, E.U. member states must freeze assets owned or controlled by the entity, directly or indirectly, and prevent assets from being made available to it.

Previously removed from the E.U. list on January 16, 2016, pursuant to the JCPOA; returned to the E.U. list on September 29, 2025, as part of the reimposition of U.N. sanctions on Iran.

Added on November 5, 2009, 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 (WMDs) and their delivery systems; re-designated on November 5, 2018, pursuant to Executive Order 13224, which targets terrorists and those providing support to terrorists or acts of terrorism; also subject to the Iranian Financial Sanctions Regulations, which restrict the use of the U.S. financial system for transactions involving Iranian entities.

Foreign parties facilitating transactions for the entity or otherwise assisting the entity may be subject to U.S. sanctions; foreign financial institutions facilitating transactions for the entity may be prohibited from opening or maintaining correspondent or payable-through accounts in the United States; subject to heightened U.S. export license requirements (with a presumption of denial) due to involvement in activities related to terrorism.

Previously removed from the SDN list on January 16, 2016, pursuant to the JCPOA; returned to the SDN list on November 5, 2018, as part of the reimposition of U.S. sanctions on Iran.

Sanctioned by the governments of Australia, Japan, and the United Kingdom, restricting business and financial transactions with the entity and/or freezing its assets in those countries.

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.