News

2013-08-15 10:25

Rial Forex Rate

1 EUR = 32967 IRR

Read more …

Home

Financial sanctions against Bank Saderat Iran

All moneys and economic resources of Bank Saderat Iran in Europe are blocked (Regulation EU 961/2010 of 25.10.2010 by EU-Council)

Therefore we are not able to handle any new business until further notice.

 

But on 5. February 2013 the General Court (Fourth Chamber, Case T‑494/10) has declared the annulment of the sanction measures in so far as they concern Bank Saderat Iran. Since EC-Commission has brought an appeal, under the second paragraph of Article 60 of the Statute of the Court of Justice of the European Union this decision takes effect only as from the date of dismissal of the appeal. Dismissal decision will be made after hearing the parties again - not before summer 2015, until then we are deprived of our rights.

Link to court decision:
http://curia.europa.eu/juris/document/document.jsf?text=&docid=133481&pageIndex=0&doclang=EN&mode=lst&dir=&occ=first&part=1&cid=3254565

 

Bank Saderat Iran - at a glance -

Bank Saderat Iran, based in Tehran, Iran was founded in 1952. As a large Iranian bank we offer universal banking worldwide with approximately 34,000 employees. The share capital amounts to 16 803 billion IRR.

Bank Saderat Iran - Germany -

In Germany, the banking license for business of any kind (except for the investment business pursuant to § 1 para 1 sentence 2 No. 6 KWG) administered by the German Banking Act was granted on 30th August 1961. The branches in Hamburg - established in 1962 - and Frankfurt - since 1979 - with total assets of over one billion Euros, registered in the Local Courts of Hamburg under HRB 9777 and in Frankfurt under HRB 16 521 apply to supervision as one bank according to § 53 para 1 sentence 1 KWG and are among the oldest foreign banks in Germany.

Because of our special affinity with home country Iran and our long experience, we are strategically focused on the management and financing of exports to Iran and the Gulf States and see our core business within this geographical area.  We offer to our customers a full range of services around the handling of letters of credit, e.g. discounting of export proceeds, account keeping, payment services, loans, guarantees and deposit on attractive rates.

The Bank is statutory member of the German Banks Compensation Scheme and since 1979 member of the Deposit Guarantee Fund of the Federal Association of German Banks. Financial statements and management reports shall be published in the electronic Federal Gazette.