Ghavamin Bank (
Persian
Persian may refer to:
* People and things from Iran, historically called ''Persia'' in the English language
** Persians, the majority ethnic group in Iran, not to be conflated with the Iranic peoples
** Persian language, an Iranian language of the ...
: بانک قوامین), ''Bank Qavâmin'', was an Iranian financial and credit institution established in 2000.
Ghavamin Bank is the first bank in the country with the aim of helping to enhance the living quality and financial support of working staff of
Iran police forces.
It was dissolved after Iranian central bank merged 7
Iranian Armed Forces
The Islamic Republic of Iran Armed Forces, are the combined military forces of Iran, comprising the Islamic Republic of Iran Army (''Arteš''), the Islamic Revolutionary Guard Corps (''Sepâh'') and the Law Enforcement Force (Police).
Iran ...
banks into
Bank Sepah
Bank Sepah ( fa, بانک سپه, ''Bānke Sepah''), the first Iranian bank, was established in 1925 (corresponding to 1304 in the Iranian Calendar). Its first branch, in Tehran, opened that year.
The bank also has branches in Frankfurt, Paris an ...
.
History
Ghavanim started as a charity loan fund then in July 2000 was restructured as a financial institute and renamed the Ghavamin Saving and Charity Loan Institute. Its range of activities to the public was expanded to police personnel.
In 2004, following its successful and well managed risk to overtake the bankrupted ''Al-TAHA'' financial institute' debts and controlling the charity loan financial crisis in the
Province of Isfahan, the
Central Bank of Iran
The Central Bank of Iran (CBI), also known as ''Bank Markazi'', officially the Central Bank of the Islamic Republic of Iran ( fa, بانک مرکزی جمهوری اسلامی ايران, Bank Markazi-ye Jomhuri-ye Eslāmi-ye Irān; SWIFT Code: B ...
agreed to promote it to
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
in an step-by-step restructure.
Finally, in June 2012 Ghavanim was licensed as public bank. In FY 2012-2013, Ghavamin Bank, with revenues of over 1.6 billion US$ dollars, ranks among the twenty-four companies and the seventh largest
bank in Iran. While established in
Tehran
Tehran (; fa, تهران ) is the largest city in Tehran Province and the capital of Iran. With a population of around 9 million in the city and around 16 million in the larger metropolitan area of Greater Tehran, Tehran is the most popul ...
, the institution operates throughout the country with over 880 branches.
Awards
In 2012, Ghavamin Bank has been awarded the EU banking management award.
In 2012, awarded ISO 10004.
See also
*
Banking in Iran
Following the Iranian Revolution, Iran's banking system was transformed to be run on an Islamic interest-free basis. As of 2010 there were seven large government-run commercial banks. As of March 2014, Iran's banking assets made up over a third o ...
References
External links
{{Banks of Iran
Banks of Iran
Banks established in 2000
Iranian companies established in 2000