Middle East Bank
{{Short description|Iranian Bank}}
{{Infobox company
| name = Middle East bank
| logo =
| logo_size =
| image = Middle East bank (iran).jpg
| image_size =
| image_caption = Bank Headquarters
| type = Private company
| industry = Banking
| founded = {{Start date |2012 |11 |1}}
| hq_location_city = Tehran
| hq_location_country = Iran
| area_served =
| key_people = Javad Javadi (CEO)
| num_employees =
| num_employees_year =
| website = {{url |https://en.middleeastbank.ir/}}
}}
Middle East Bank (MEB; {{langx|fa|بانک خاورمیانه|lit=banke khavarmiyane}}) is an Iranian bank headquartered in Tehran. The bank was founded in 2012.{{Cite news|url=https://www.reuters.com/article/iran-banks-finance/irans-middle-east-bank-says-global-banking-snags-starting-to-ease-idUSL5N16H36V|title=Iran's Middle East Bank says global banking snags starting to ease|author=Reuters Editorial|work=U.S.|access-date=2018-07-07|language=en-US}}{{Cite news|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=228823144|title=Company Overview of Middle East Bank Co.}}{{Cite news|url=https://financialtribune.com/articles/economy-business-and-markets/78913/capital-increase-for-middle-east-bank|title=Capital Increase for Middle East Bank|date=2017-12-29|work=Financial Tribune|access-date=2018-07-07|language=en-US}}
MEB is owned by small private shareholders. They focus on the humanitarian trade with Iran.{{Cite news|url=https://www.reuters.com/article/us-iran-bank/iranian-banking-newcomer-struggles-as-fear-of-sanctions-hits-humanitarian-deals-idUSKCN0HV1HH20141006|title=Iranian banking newcomer struggles as fear of sanctions hits...|last=Saul|first=Jonathan|work=U.S.|access-date=2018-09-23|language=en-US}}{{Cite web|url=https://www.ft.com/content/a36fda46-b253-11e2-8540-00144feabdc0|title=Obstacles fail to deter financier from opening private Iran bank|last=Bozorgmehr|first=Najmeh|date=7 May 2013|website=Financial Times}}
On 8 October 2020 OFAC (U.S. Department of the Treasury) changed its sanctions listing. Middle East Bank is - along with all other Iranian banks - SDN-listed and “Subject to Secondary Sanctions”. It is however one of the few banks tagged "IRAN" (categorization as an Iranian financial institution) only and therefore maintained its SWIFT BIC. With the General License published on the same day Middle East Bank can fully maintain its support of the humanitarian business. The up-to-date sanctions status can be found at the following link.{{Cite news|url=https://en.isna.ir/news/97082009564/4-Iranian-banks-removed-from-US-sanctions-list|title=4 Iranian banks removed from US sanctions list|date=2018-11-11|work=ISNA|access-date=2018-11-17|language=en-US}}{{Cite web |title=Sanktionsstatus – Middle East Bank |url=https://www.middleeastbank.de/informationen/sanktionsstatus/ |access-date=2024-06-13 |language=de-DE}}
History
Founded on 1 November 2012, the bank began operations in January 2013 and by May, 3 branches had been established with Rls.1.4 trillion in deposits. In August 2014 they became subject to US sanctions as part of the wider sanctions against Iran.
In 2018 they opened their first branch in Germany.{{Cite news|url=https://www.timesofisrael.com/iran-banks-to-set-up-shop-in-germany/|title=Iran banks to set up shop in Germany|access-date=2018-09-23|language=en-US}}{{Cite news|url=https://www.handelsblatt.com/finanzen/banken-versicherungen/middle-east-bank-und-sina-bank-iranische-banken-wollen-filialen-in-muenchen-eroeffnen/14501358.html|title=Middle East Bank und Sina Bank: Iranische Banken wollen Filialen in München eröffnen|access-date=2018-09-23|language=de}}
See also
References
{{reflist}}
External links
- [http://www.middleeastbank.ir Official website] (Persian)
- [https://en.middleeastbank.ir/ Official website] (English)
- [http://www.cbi.ir/simplelist/3088.aspx State owned banks of Iran]
{{Banks of Iran}}
Category:Banks established in 2012