Persia International Bank plc commenced trading in London on 29 April 2002, following the merger of the London branches of

Bank Mellat Bank Mellat ( fa, بانک ملت, ''Bank Milât'', lit. ''People's Bank'') is a private Iranian bank. Its name means "Bank of the Nation". Bank Mellat was established in 1980, with a paid capital of Rials 33.5 billion as a merger of ten pre-revol ...

and

Bank Tejarat Tejarat Bank (Persian: بانک تجارت, ''Bank Tejarat'', ''Mercantile Bank'' also "Commerce Bank") is an Iranian Bank. History (1887 – 1995) In 1887 a British bank named The East Modern Bank (Bank Jadid Sharq) established branches in s ...

, which are joint shareholders in Persia International Bank.

Sanctions and court actions

The

United States Department of the Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and ...

mentioned Persia International in their 2008 watchlist of Iranian banks which may be trading in violation of UN Security Council Resolution 1803. On 6 September 2013, the

European General Court The General Court, informally known as the European General Court (EGC), is a constituent court of the Court of Justice of the European Union. It hears actions taken against the institutions of the European Union by individuals and member stat ...

in Luxembourg ruled to annul the European Union sanctions in place since 2010 against the bank on grounds of supporting the Iranian nuclear and missile programs, as EU governments had incorrectly assessed the facts and evidence.

Notes

External links

Official Website
Banks of Iran Banks of the United Kingdom British companies established in 2002 Banks established in 2002 {{Iran-stub