Question 1

What is Iran Zamin Bank?

Accepted Answer

Iran Zamin Bank (Persian: بانک ایران زمین, meaning "The Land of Iran Bank") is a private commercial bank in Iran that provides retail banking services and insurance products. Headquartered in Tehran, the bank operates a network of 262 branches across the country. Iran Zamin Bank is a non-government public joint-stock company listed on the Farabourse (Iran's over-the-counter securities market) since 2011.

The bank serves diverse customer segments through Islamic banking principles, operating as one of Iran's private sector financial institutions.

Question 2

When was Iran Zamin Bank founded?

Accepted Answer

The origins of Iran Zamin Bank trace back to 1998, when the Financial and Credit Institution of Mowla Al-Mowahedin was established by a group of Iranian investors in Khorasan province. This financial institution operated with 400 branches throughout Iran before the 2008 financial crisis.

Following the Central Bank of Iran's approval in November 2008 (license No. 5/1926 dated July 10, 2008), Mowla Al-Mowahedin was authorized to upgrade from a financial institution to a full-service bank. In February 2011, the institution officially transformed into Iran Zamin Bank and began operations on April 23, 2011.

The founding board consisted of a diverse group of Iranian experts and professionals from various sectors, including banking, medicine, engineering, academia, education, and business. The bank launched with a capital of 2,000 billion rials (2 billion shares at 1,000 rials per share), with founders holding 51.75% and public offering accounting for 48.25% through Bank-e Melat and the Farabourse. The bank was listed on the Farabourse on September 27, 2011.

Question 3

Where is Iran Zamin Bank headquartered?

Accepted Answer

Iran Zamin Bank's headquarters is located at No. 187, North Shams Tabrizi Street, Mirdamad Boulevard, Tehran, Iran (postal code: 1919913853). This location has served as the bank's main office since 2011.

Tehran, as Iran's capital and largest city, provides the bank with access to major commercial activities and government institutions.

Question 4

Where does Iran Zamin Bank operate?

Accepted Answer

Iran Zamin Bank operates exclusively within Iran, maintaining a network of 262 branches distributed across the country's provinces. The bank's presence spans both urban and regional areas, providing banking services to customers throughout the Islamic Republic.

Originally starting from its roots in Khorasan province in northeastern Iran, the bank expanded its footprint nationally after its transformation from Mowla Al-Mowahedin financial institution. The branch network serves as the primary channel for delivering banking services to retail and commercial customers across Iran's diverse geographic regions.

Question 5

What services does Iran Zamin Bank offer?

Accepted Answer

Iran Zamin Bank provides a comprehensive range of Islamic banking services in compliance with Sharia law, as required for all Iranian financial institutions. The bank's core services include:

Retail Banking: Checking and savings deposits, term investment deposits, personal financing, and consumer loans structured according to Islamic banking principles.

Commercial Banking: Trade finance, letters of credit, working capital financing, and business lending services. The bank participates in joint ventures, direct investments, and limited trade partnerships.

Insurance Services: Through its subsidiary Arman Insurance (19.78% ownership), the bank offers insurance products to customers.

Digital Banking: Debit card services through the national SHETAB interbank network, ATM access, telephone banking, mobile banking, and online banking platforms. All cards are accepted at any ATM or point-of-sale terminal in Iran through the unified payment network.

The bank operates according to Islamic banking principles, which require all transactions to be linked to real economic activities and goods/services exchanges rather than conventional interest-based lending.

Question 6

What makes Iran Zamin Bank unique?

Accepted Answer

Iran Zamin Bank's most distinctive characteristic is its origin story and transformation. The bank emerged from the Mowla Al-Mowahedin financial institution, which demonstrated remarkable resilience during Iran's financial crisis by using its own cash reserves—without government support—to return 4,180 billion rials to depositors through 160 branches.

This private-sector success story led to the institution's elevation to full bank status by the Central Bank of Iran. Iran Zamin Bank represents a model of private entrepreneurship in Iran's largely government-dominated banking sector.

Diversified Investment Portfolio: The bank maintains strategic investments in multiple sectors through its subsidiaries, including Datam Commerce Development (100% ownership), Iran Investment Company (35.95% ownership), Kish IFS (18.65% ownership), Tamin Atieh Sarzamin Iranian (100% ownership), and Pak Energy Nikoo Gostar (99.9% ownership).

Broad Founding Base: Unlike many banks founded by limited investor groups, Iran Zamin Bank was established by a diverse coalition of professionals from medical, engineering, academic, and business communities, giving it a unique stakeholder composition.

Question 7

What type of financial institution is Iran Zamin Bank?

Accepted Answer

Iran Zamin Bank is classified as a private commercial bank (بانک تجاری غیردولتی) under Iranian banking regulations. As a commercial bank, it is authorized to accept checking and savings deposits, term investment deposits, and provide financing to both government and non-government customers across various industries.

In Iran's three-tier banking structure—consisting of specialized government banks, commercial government-owned banks, and non-government-owned banks—Iran Zamin Bank falls into the third category as a private sector institution. The bank operates under 100% Sharia-compliant Islamic banking principles, as mandated for all Iranian financial institutions following the 1983 Law for Usury-Free Banking.

As a publicly listed company on the Farabourse, Iran Zamin Bank maintains public accountability through regular financial reporting and corporate governance standards required by Iranian securities regulations.

Question 8

What is Iran Zamin Bank's international status?

Accepted Answer

On October 8, 2020, Iran Zamin Bank was designated under sanctions by the U.S. Department of the Treasury and placed on the Office of Foreign Assets Control (OFAC) sanctions list. This designation applies to all Iranian banks under U.S. sanctions policy toward Iran's financial sector.

These sanctions restrict the bank's ability to conduct international transactions, access foreign currency markets, and maintain correspondent banking relationships with international financial institutions. The sanctions designation reflects broader U.S. policy measures targeting Iran's banking system rather than specific allegations against Iran Zamin Bank itself.

Like all Iranian banks, Iran Zamin Bank was disconnected from the SWIFT network in March 2012 following implementation of international sanctions, limiting its cross-border payment capabilities.

Iran Zamin Bank

in Iran 🇮🇷

Crypto-Friendliness

All done!

About Iran Zamin Bank in Iran