 | |
| Company type | JV |
|---|---|
| Industry | Financial services |
| Founded | 2010 |
| Founders | Mahmoud Ahmadinejad and Hugo Chávez[1] |
| Headquarters | , |
Number of locations | 1[2] |
Key people | Mohammad Ghazaei Pakdehi (CEO) |
| Revenue | |
| Total assets | |
| Owner | |
Number of employees |
|
| Website | ivbb |
| Footnotes / references Annual Report Fiscal Year (2016–2017)[3] | |
Iran-Venezuela Bi-National Bank (Persian: بانک مشترک ایران و ونزوئلا, Bank Moshtarek-e Iran vâ Vânuzuilâ, Spanish: Banco Binacional Irán-Venezuela) is an international financial institution that was founded in 2010 with an aim to develop commercial ties between Iran and Venezuela.[1]
Out of the 40 banks legally licensed to operate in Iran, the Iran-Venezuela Bi-National Bank is one of the only five foreign banks to make that list.[4]
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Transcription
History
It started as a joint venture between two state-owned banks, Banco Industrial de Venezuela and Export Development Bank of Iran with a starting capital of $200 million offered equally by both parties.[2]
In September 2013, the United States Department of the Treasury imposed sanction on the bank.[5] In 2015, an official in the Central Bank of the Islamic Republic of Iran told press that "[the] bank is not given much freedom" and it is being managed one-sidedly by Iran, because the Venezuelan side does not participate in the general assemblies.[6] By 2016, the Iranian side was willing to sell its share.[7] In 2018, the US reimposed sanctions on the bank.[8]
In July 2020, Iran officials announced the Iran-Venezuela Bi-National Bank would enter the Tehran Stock Exchange by March 2021 (17% to be floated on the stock market).[9]
References
- ^ a b Bailey, Norman A. (February 2012). "Iran's Venezuelan Gateway" (PDF). Iran Strategy Brief (5).
- ^ a b c "5 Foreign Banks Licensed by Iran". Financial Tribune. 2017-06-06. Retrieved 2018-08-11.
- ^ "Annual Report Fiscal Year (2016-2017)" (PDF). Iran Venezuela Bi-National Bank.
- ^ "5 Foreign Banks Licensed by Iran". Financial Tribune. 2017-06-06. Retrieved 2021-05-25.
- ^ Gardner, Timothy. "U.S. blacklists firms for evading Iran oil sale sanctions". U.S. Retrieved 2018-08-11.
- ^ "Joint Iran-Venezuela bank not much of a bank: Iran". Trend.Az. 2015-08-25. Retrieved 2018-08-11.
- ^ "Iran to Sell Shares in Joint Bank With Venezuela". Financial Tribune. 2016-11-08. Retrieved 2018-08-11.
- ^ White; Burke, Case LLP-Richard; Erb, Nicole; DeLelle, Claire A.; Zissis, Kristina; Brayton-Lewis, Cristina; S; Jorgensen, ra; Spicer, Margaret. "United States Fully Re-imposes Iran Sanctions and Expands Designations | Lexology". www.lexology.com. Retrieved 2021-05-25.
- ^ "Iran Venezuela Bi-National Bank to be listed on stock exchange". Tehran Times. 2020-07-11. Retrieved 2021-05-25.
This page was last edited on 19 March 2024, at 22:44