Saturday 27 December 2014
 
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Bank Mellat

Turkey banks cut ties with Iran's Bank Mellat

Iran's Bank Mellat cannot do business in Turkey as all Turkish banks have cut links with it due to US sanctions over Tehran's nuclear programme, the head of the bank's Turkish unit, Younes Hormozi, said. His comments came a day after the U

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US imposes curbs on 10 new Iran-linked firms

The US Treasury Department has extended weapons-related sanctions against Iran to 10 additional businesses and five individuals it said were affiliated with state-owned Bank Mellat and Islamic Republic of Iran Shipping Lines. The Treasury

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S Korea imposes new wave of Iran sanctions

South Korea blacklisted on Wednesday 102 companies, including the Seoul branch of Iran's Bank Mellat, and 24 individuals accused of facilitating Iran's efforts to develop nuclear weapons. Bank Mellat has been at the heart of US demands for

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Iranian bank faces Korea curbs

South Korea said on Wednesday it would restrict the Seoul operations of Bank Mellat, an Iranian bank accused of facilitating Tehran's efforts to develop nuclear weapons. 'The government will restrict foreign exchange transactions o

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Iran rejects US reasons to sanction Mellat

Iran rejected on Saturday as "baseless" the reasons given by the United States for sanctioning a Malaysian-based subsidiary of its second-largest bank, the official Irna news agency reported. The US Treasury on Thursday sanctioned Iran's s

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Iran’s Bank Mellat to handle bond issue

An Iranian state bank has been picked as lead manager for a planned bond issue to help finance the development of the country's largest natural gas field, the Oil Ministry website Shana said on Tuesday. Mohammad Hassan Mousavizadeh, a seni

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Iran plans first bank stake sale on Feb 18

Iran plans to offer 5 per cent of Bank Mellat to private investors on February 18, a Tehran Stock Exchange official said, in the Islamic Republic's first part-privatisation of a state-owned bank. The official, who declined to be identi

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Bank Mellat eyes Malaysia branch

Iran's state-owned Bank Mellat is looking to set up a branch in Malaysia's offshore financial centre of Labuan, a Malaysian newspaper reported on Tuesday. Malaysian prime minister Abdullah Ahmad Badawi said the bank would help deve

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Bank Mellat says US sanctions wrong

Iran's Bank Mellat has denied US allegations that prompted Washington to slap sanctions on the institution and says it reserves the right to take legal action against the US authorities in response. The US imposed sanctions last month on

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