![]() | |
Company type | JV |
---|---|
Industry | Financial services |
Founded | 2010 |
Founders | Mahmoud Ahmadinejad and Hugo Chávez [1] |
Headquarters | , |
Number of locations | 1 [2] |
Key people | Mohammad Ghazaei Pakdehi (CEO) |
Revenue | |
Total assets | |
Owner | |
Number of employees |
|
Website |
ivbb |
Footnotes / references Annual Report Fiscal Year (2016–2017) [3] |
Iran-Venezuela Bi-National Bank ( Persian: بانک مشترک ایران و ونزوئلا, Bank Moshtarek-e Iran vâ Vânuzuilâ, Spanish: Banco Binacional Irán-Venezuela) is an international financial institution that was founded in 2010 with an aim to develop commercial ties between Iran and Venezuela. [1]
Out of the 40 banks legally licensed to operate in Iran, the Iran-Venezuela Bi-National Bank is one of the only five foreign banks to make that list. [4]
It started as a joint venture between two state-owned banks, Banco Industrial de Venezuela and Export Development Bank of Iran with a starting capital of $200 million offered equally by both parties. [2]
In September 2013, the United States Department of the Treasury imposed sanction on the bank. [5] In 2015, an official in the Central Bank of the Islamic Republic of Iran told press that "[the] bank is not given much freedom" and it is being managed one-sidedly by Iran, because the Venezuelan side does not participate in the general assemblies. [6] By 2016, the Iranian side was willing to sell its share. [7] In 2018, the US reimposed sanctions on the bank. [8]
In July 2020, Iran officials announced the Iran-Venezuela Bi-National Bank would enter the Tehran Stock Exchange by March 2021 (17% to be floated on the stock market). [9]
![]() | |
Company type | JV |
---|---|
Industry | Financial services |
Founded | 2010 |
Founders | Mahmoud Ahmadinejad and Hugo Chávez [1] |
Headquarters | , |
Number of locations | 1 [2] |
Key people | Mohammad Ghazaei Pakdehi (CEO) |
Revenue | |
Total assets | |
Owner | |
Number of employees |
|
Website |
ivbb |
Footnotes / references Annual Report Fiscal Year (2016–2017) [3] |
Iran-Venezuela Bi-National Bank ( Persian: بانک مشترک ایران و ونزوئلا, Bank Moshtarek-e Iran vâ Vânuzuilâ, Spanish: Banco Binacional Irán-Venezuela) is an international financial institution that was founded in 2010 with an aim to develop commercial ties between Iran and Venezuela. [1]
Out of the 40 banks legally licensed to operate in Iran, the Iran-Venezuela Bi-National Bank is one of the only five foreign banks to make that list. [4]
It started as a joint venture between two state-owned banks, Banco Industrial de Venezuela and Export Development Bank of Iran with a starting capital of $200 million offered equally by both parties. [2]
In September 2013, the United States Department of the Treasury imposed sanction on the bank. [5] In 2015, an official in the Central Bank of the Islamic Republic of Iran told press that "[the] bank is not given much freedom" and it is being managed one-sidedly by Iran, because the Venezuelan side does not participate in the general assemblies. [6] By 2016, the Iranian side was willing to sell its share. [7] In 2018, the US reimposed sanctions on the bank. [8]
In July 2020, Iran officials announced the Iran-Venezuela Bi-National Bank would enter the Tehran Stock Exchange by March 2021 (17% to be floated on the stock market). [9]