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Qarz Al-Hasaneh Mehr Iran Bank (Persian: بانک قرضالحسنه مهر ایران, Bank Qârzalhesinuh-e Miher-e Iran), also known as QMB, is an Iranian financial services and banking company that provides offering retail services, investment management and Gharz al-Hasna facilities. Gharz al-Hassaneh Mehr Bank of Iran, with an initial capital of 15,000 Milliard Rials and with the participation of Iranian government owned specialized banks, was inaugurated by then-PresidentMahmoud Ahmadinejad in 2007.[1][2] The central branch of this bank is located in Tehran.[citation needed]
History
QMB with an initial capital of 15,000 milliard Rials and the participation of 10 major banks in the country was inaugurated by the then President Mahmoud Ahmadinejad on 13 December 2007 and received an official license from the Central Bank of Iran on 8/27/2008. The initial capital of Bank Mehr Iran at the beginning of its activity was 15,000 billion Rials, until with the approval of the General Assembly in 1399, the capital of this bank increased to 25,000 billion Rials.[3]
On 8 October 2020 the United States Department of the Treasury sanctioned 18 Iranian banks, including Mehr Iran Bank, which the department claims are "additional avenue that funds the Iranian government’s malign activities".[5][6][7]
Fund
The initial capital of Bank Mehr Iran at the beginning of its activity was 15,000 billion Rials, until with the approval of the General Assembly in 1399, the capital of this bank increased to 25,000 billion Rials.[8]
Mehr Bank of Iran was opened as the first Qarz al-Hasna Bank in the country on 13 December 2007 and on 27 September 2008 it received the official license of the Central Bank.
Selected as the third top bank in the Islamic world in 2018[9]
Awarding the Islamic World Economic Elite Award to Seyed Saeed Shamsinejad (CEO of Gharz al-Hasna Mehr Bank of Iran)[10]
