Frequently Asked Questions

Names of International banks which have entered into a correspondent banking relationship with Iranian banks

Q: Name the International banks which have entered into a correspondent banking relationship with Iranian banks.

Ans: The list of foreign banks working with Iran (as shared by Embassy of India in Tehran with RBI)

  1. VTB Bank (Bank for Foreign Trade of Russia, VTB Group, formerly Vneshtorgbank)

  2. Mir Business Bank C.J.S.C (Wholly owned subsidiary of Bank Melli in Russia)

  3. The Royal Bank of Scotland (RBS) – 73% owned by British Government

  4. Persia International Bank Plc (UK) (owned by Bank Mellat & Bank Tejarat - specialises in trade finance for Iranian clients)

  5. Bank Melli Plc (UK)

  6. Bank Sepah International Plc (UK)

  7. Svenska Handelsbanken

  8. DANSKE BANK (Danish bank covering Scandinavian and European trade with Iran)

  9. Rabobank (Netherlands)

  10. KBC Bank (supporting its customers from Belgium, Czech Republic, Slovakia and Hungary in their trade with Iran)

  11. DZ Bank (Germany – also handling other EU member states transactions with Iran)

  12. Deutsche Bank (cooperation with Ministry of Petroleum for clearance of oil revenues)

  13. BHF

  14. AKA

  15. Europaisch-Iranische Handelsbank AG in Hamburg (EIH – German bank with shareholders being Iran’s Bank of Industry & Mine, Bank Mellat and Bank Tejarat) – EIH handles many financial transactions between EU member states and Iran either as the main bank or as correspondent bank

  16. Some smaller landesbank and sparkasse financial institutions in Germany

  17. Bank Sepah Branch (Frankfurt)

  18. Natixis S.A. (France)

  19. Banque Worms (France)

  20. Some small and regional banks in France

  21. Bank Tejarat (Paris Branch)

  22. Bank Melli (Paris Branch)

  23. Banque de Commerce et de Placements – BCP (Switzerland)

  24. Banque Heritage (Switzerland)

  25. Bank Alpinum AG (Lichtenstein)

  26. Raiffeisen Bank Austria

  27. Erste Bank Austria

  28. Oberbank AG (affiliated to Erste Bank)

  29. Bank Polski (Poland)

  30. Československá obchodní banka, a.s. (ČSOB) – Czech Republic

  31. Česká Spořitelna (Czech Republic)

  32. Bank of Italy

  33. SACHE (Italy)

  34. Mediobanca

  35. Unicredit

  36. Banca Popolare di Sondrio (Italian bank covering European trade with Iran)

  37. Banca Popolare di Milano (Italy)

  38. Banca Popolare di Vicenza (Italy)

  39. Banco Marroqui de Comercio Exterior (BMCE Bank) - Spain

  40. Aresbank S.A. (formerly Banco Árabe Español, S.A.) - Spain

  41. TÜRKİYE HALK BANKASI A.Ş. (Turkey) [Foreign companies with registered offices in Turkey can also use HalkBank]

  42. Bank Mellat Türkiye (Istanbul)

  43. Bank Melli Branch (Baku)

  44. Mellat Bank SB CJSC (Armenia)

  45. Bank Tejarat Branch (Tajikistan)

  46. Bank Melli Branch (Iraq)

  47. Masraf Al Rayan (Qatar)

  48. Bank Melli Iran UAE

  49. Bank Muscat (Oman – also opening a representative office in Tehran)

  50. UCO Bank of India (formerly United Commercial Bank - a major government owned commercial bank of India – establishing a representative office in Tehran) (under specific definitions, services of UCO may also be used by 3rd countries)

  51. IDBI Bank (India)

  52. IndusInd Bank (India)

  53. DBS Bank (Singapore)

  54. Mizuho Bank Ltd. (Japan)

  55. Bank of Tokyo-Mitsubishi

  56. Sumitomo Mitsui Banking Corporation (Japan)

  57. Mega International Bank (Taiwan)

  58. Branch of Bank Melli Plc UK (Hong Kong)

  59. Bank of Kunlun Co. Ltd. (a unit of state-owned China National Petroleum Corp.)

  60. Industrial and Commercial Bank of China Ltd. (ICBC)

  61. China Construction Bank

  62. Agricultural Bank of China

  63. Export-Import Bank of Korea (KEXIM)

  64. Woori Bank Co. Ltd. (South Korea – has recently established a representative office in Tehran)

  65. Korea Development Bank

It has been observed that the Central Bank of Iran has very close cooperation with the following banks: 1) Bank of Kunlun; 2) Bank Muscat; 3) HalkBank; 4) Europaisch-Iranische Handelsbank AG in Hamburg (EIH).

European Banks having Euro correspondent banking relations with the Central Bank of the Islamic Bank of the Islamic Republic of Iran.

SR. NO. COUNTRY BANK NAME
1 Austria OESTERREICHISCHE NATIONAL BANK VIENNA AT
2 OBERBANK AG, LINZ
3 RAIFFEISEN BANK INTERNATIONAL AG
4 Azerbaijan THE INTERNATIONAL BANK OF AZERBAIJAN
5 Belgium KBC BANK NV, BRUSSELS
6 Denmark DANSKE BANK
7 England BRITISH ARAB COMMERCIAL BANK (BACB)
8 MELLI BANK PLC, LONDON
9 France BANK TEJARAT, PARIS
10 BANK MELLI IRAN, PARIS
11 Germany EUROPAEISCH-IRANISCHE HANDELSBANK AG, HAMBURG
12 BANK MELLI IRAN, HAMBURG
13 BANK SEPAH-Frankfurt
14 Italy BANCA D’ITALIA ROMA
15 POPOLARE DI SONDRIO
16 UNICREDIT S.P.A. MILANO IT
17 BANCO POPOLARE
18 Russia TRANSKAPITAL BANK RUSSIA
19 VTB BANK (PJSC), VORONT SOVSKAYA UL. MOSCOW
20 VNESHECONOMBANK
21 Spain ARES BANK
22 Swiss BANQUE DE COMMERCE ET DE PLACEMENTS S.A., GENEVA
23 HINDUJA BANK
24 GAZPROMBANK (SWITZERLAND)
25 Turkey TURKIYE HALK BANKASI A.S. ANKARA TR
26 AKTIF YATIRIM BANKASI A.S. ISTANBUL

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