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2017-11-30 10:25

Rial Forex Rate

1 EUR = 41838 IRR

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Bank Saderat Iran - at a glance -

Bank Saderat Iran, based in Tehran, Iran, was founded in 1952. As a large Iranian bank we offer universal banking worldwide with over 30,000 employees, share capital amounts to IRR 57.800 billion.

In Germany, the banking license for business of any kind (except for the investment business pursuant to § 1 para 1 sentence 2 No. 6 KWG) administered by the German Banking Act was granted on 30th August 1961. Our Hamburg branch - established in 1962 – is among the oldest foreign banks in Germany, together with the branch in Frankfurt – established in1979 – both apply to supervision as one bank according to § 53 para 1 sentence 1 KWG.

From 2010 to 2016, a business ban was imposed (VO EU 961/2010 of 25.10.2010) and the bank’s assets were frozen. In February 2013 soon the Court of Justice of the European Union annulled the measures against Bank Saderat Iran (case T 494/10), but the effectiveness of this judgement was blocked for years by an obviously unfounded appeal (5th Chamber, Case C-200/13 P ); Even after the appeal was rejected, the EU disregarded the judgment and extended the void sanction until October 2016. By re-joining the European payment systems, since December 2017 the bank can carry its tasks.

Because of our special affinity for our home country Iran and our long experience, we are strategically focused on the execution and financing of exports to Iran and see our core business within this geographic scope. To our corporate customers we offer a full range of services around the handling of letters of credit, e.g. discounting of export proceeds, account keeping, payment services, loans, guarantees and deposit on attractive rates.

The bank is member of the Deposit Guarantee Fund of the Federal Association of German Banks, and statutory member of the German Banks Compensation Scheme. Financial statements and management reports are published in the electronic Federal Gazette.