Export Development Bank of Iran (EDBI) ( fa, بانک توسعه صادرات ايران, ''Bank Tuse'h-e Sadârat-e Iran'') is Iran's export-import bank. The bank was incorporated as a policy bank, owned by the Iranian government, and provides financial and other conventional banking services to Iranian exporters and importers.

Overview

Pursuant to the approval made by the Extraordinary General Assembly Meeting of the Banks, the Export Development Bank of Iran was founded on 10 July 1991, and subsequently became operational on 24 November 1991, as a state-owned bank. Under its charter, EDBI acts as the administrative arm of the

Government of Iran The Government of the Islamic Republic of Iran ( fa, نظام جمهوری اسلامی ایران, Neẓām-e jomhūrī-e eslāmi-e Irān, known simply as ''Neẓām'' ( fa, نظام, lit=the system) among its supporters) is the ruling state a ...

to contribute to the national economy, through promoting non-oil export of goods and other technical and engineering services of Iranian origin and also to enhance economic cooperation with other countries.

Access to the Sovereign Wealth Fund

The Export Development Bank of Iran has access to the Government Fund ( Sovereign Wealth Fund) administered by the

National Development Fund of Iran The National Development Fund of Iran (NDFI) ( fa, صندوق توسعه ملی) is Iran's sovereign wealth fund. It was founded in 2011 to supplement the Oil Stabilization Fund. NDFI is independent of the government's budget. Based on Article ...

DFI DFI (Diamond Flower Inc) is a Taiwanese industrial computer company with headquarters in Taipei. It designs, develops, manufactures, and sells industrial motherboard, industrial PCs, System-on-Module, industrial displays, and ODM/OEM services. ...

which was founded in 2011. The NDFI has signed agency contracts with different Iranian banks including Exports Development Bank of Iran (EDBI) to allocate US$9 billion for supporting investments in the private Sector.

Key financial data (Consolidated)

1USD= IRR 250,000

International sanctions

After 16 January 2016, which marks Implementation Day of the JCPOA , also known as Iran's Nuclear Deal, Export Development Bank of Iran (EDBI) is not currently on the

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...

(UN) or the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

(EU) Sanction Lists. Nonetheless, according to US Dept. of Treasury,

Office of Foreign Assets Control The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S. Treasury Department. It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy ob ...

(OFAC) on 11 May 2018, EDBI is on the SDN list, subject to Secondary Sanctions.

References

External links

* {{Authority control Banks established in 1991 Companies listed on the Tehran Stock Exchange Export credit agencies Foreign trade of Iran Iranian companies established in 1991 Government-owned banks of Iran companies based in Tehran