Melli Bank

Iranian banks give 83% more loans in current year

Iranian banks gave 1,463 trillion rials (some $45.7 billion based on the exchange rate of US dollar at the free market) worth of loans in the first half of the current Iranian calendar year. However, a great portion of the bank's loans are bad loans. Iran's Melli Bank, Parsian Bank and Tejarat Bank have the highest amount of bad loans in Iran. Of the total 870 trillion rials (about $28 billion) in bad loans, Melli Bank's share is 130 trillion rials (about $4.2 billion), Parsian and Tejarat banks' shares is 110 trillion rials each (about $3.5 billion).

Chief of the Iran’s Melli Bank removed from his post

Managing director of the Iran's Melli Bank, Farshad Heydari has been removed from his position by the Bank's Association. The embezzlement case originally started back in 2007 by Amir Mansour Arya Investment Company and progressed in 2010, after some Iranian major banks, including Bank Saderat and Bank Melli, issued loans for the company.

Dell Ends Software Maintenance With Iran Bank

Dell discovered that Quest Software had supplied software maintenance to Melli Bank, subsidiary of Bank Melli in Iran. The maintenance occurred before Dell’s buyout of Quest. In a letter to the SEC, Dell disclosed Quest’s small but potentially worrisome banking engagement. It said that the company’s Form 10-K contained information about the business transaction worth US$169.90. Although not much, any dollar amount flowing to a technology company from a bank with ties to Iran could have raised some serious red flags. It's unclear what type of e-discovery software Dell used to uncover the business transaction.

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