Iranian-European Bank (, Bank Tejareti-ye Iran vâ Erupa) is a German bank founded in 1971.[1] Headquartered in Hamburg, it has two other branches in Kish Island (opened in 2005) and Tehran (representative office turned into branch in 2008). The European-Iranian Commercial Bank is a German joint stock company. It is (majority) owned by Iranian Bank for Industries and Mines (52%), Iranian Bank Mellat (26%), and Iranian Bank Tejarat (19%).[2]
Its biggest shareholder is an Iranian state-owned bank, Bank of Industry and Mine, and other major stakeholders include Bank Mellat and Bank Tejarat.[3] Due to sanctions against Iran, the bank was not operative between 2011 and 2016.[4] In 2018, before the US pulled out of the Iran deal and reinstated their sanctions, German tabloid Bild obtained information about plans to fly out €300 million ($350 million) in cash.[5] Iran subsequently canceled their request for the German financial authority BaFin to release that money held by the European-Iranian Trade Bank.[6]
See also
References
- Europäisch-Iranische Handelsbank AG: Private Company Information - Bloomberg www.bloomberg.com, retrieved 2018-08-08^
- Rainer Vollmer. Die Deutsche Bundesbank als Bank der Banken Banken in Deutschland, VS Verlag für Sozialwissenschaften, 1998, retrieved 2023-03-31^
- 5 Foreign Banks Licensed by Iran Financial Tribune, 2017-06-06, retrieved 2018-08-08^
- EIH Bank Back in Business Financial Tribune, 2016-03-04, retrieved 2018-08-08^
- Germany probes huge Iran cash transfer request | DW | 10.07.2018 Deutsche Welle^
- Reports: Iran Drops Bid to Transfer Millions Out of Germany 4 September 2018^