Draft:Iran Zamin Bank

Iran Zamin Bank is an Iranian bank. Its shares were offered in the Tehran Stock Exchange market in 2011. The establishment of this bank followed the fundamental approval of the Central Bank of the Islamic Republic of Iran in November 2008 to upgrade the financial institution of Mowla Al-Mowahedin to a bank. Currently, the central branch of Iran Zamin Bank is located in Tehran. The bank currently owns a network of 262 branches across Iran. This bank was sanctioned by the U.S. Department of the Treasury on October 8, 2020.:

History
The financial and credit institution of Mowla Al-Mowahedin was established in 1998 by a group of Iranian investors and cooperators in Khorasan Province, with 400 branches operating throughout the country.

In February 2011, upon the directive of the Central Bank, Mowla Al-Mowahedin institution was tasked with organizing unlicensed cooperatives and assumed responsibility for their guarantees. However, due to embezzlement by some managers, limited expertise, and the lack of familiarity among cooperative officials with the country's monetary and capital markets, issues arose. This led to illegal gatherings and disturbances in various cities.

Using its own cash reserves and without government support, Mowla Al-Mowahedin financial institution managed to provide funds to depositors and return their deposits through 160 branches, amounting to 4,180 billion rials. In February 2011, with the Central Bank's approval, Mowla Al-Mowahedin financial institution was elevated to the status of a bank and rebranded as Iran Zamin Bank.

Sanction
Iran Zamin Bank is among the banks that were sanctioned by the U.S. Department of the Treasury on October 8, 2020, and placed on the blacklist of this department.

Subsidiary Companies

 * Here are some subsidiary companies and their ownership percentages:
 * Datam Commerce Development (100% ownership)
 * Iran Investment Company (35.95% ownership)
 * Arman Insurance (19.78% ownership)
 * Kish IFS (18.65% ownership)
 * Tamin Atieh Sarzamin Iranian (100% ownership)
 * Pak Energy Nikoo Gostar (99.9% ownership)

Objectives
The objectives of Bank Iran Zamin are as follows :


 * 1) Developing the culture of private business.
 * 2) Expanding the target market and increasing daily business, production, and service activities through banking operations and facilities provision.
 * 3) Allocating and directing resources to productive activities in various sectors including commerce, production, services, housing, and construction.
 * 4) Providing efficient financial services to resource holders, entrepreneurs, and eligible applicants.
 * 5) Developing, offering, and creating innovative banking tools, identifying and implementing new resource allocation methods.
 * 6) Optimally utilizing environmental opportunities to preserve and increase the capital of customers and shareholders.
 * 7) Providing higher profits for depositors and shareholders.
 * 8) Establishing credibility and reputation for the bank in all activities and creating the necessary grounds for the quantitative and qualitative growth of the bank.
 * 9) Leading competitors in the money and capital market by identifying opportunities and threats and effectively exploiting and optimizing opportunities.
 * 10) Gaining the trust of the public and ensuring customer satisfaction.

Vision
The vision of Iran Zamin Bank includes

Being a leader and innovator in the banking industry, providing pioneering services and diverse products tailored to the needs of customers, and meeting their expectations (deepening Islamic banking methods for the future of banking).

Entering the market and expanding business to enhance economic, social, and cultural activities through continuous and sustainable engagement with stakeholders (customers, shareholders, employees), strengthening the financial infrastructure, and fostering the growth of production, commercial, and service units based on Islamic banking principles in its future vision.