Bank Tejarat (trade) - Tejarat Bank was established as per the legal bill of the Department of Banks’ Affairs approved in September 1979 upon amalgamation of eleven private banks. Later, on 20/12/1979, the Iran-Russia Bank also joined the merger, totaling the paid up capital to 39.1 billion Rials. Twenty six years on, as per economic requirements of different regions of the country, Tejarat Bank is now maintaining 2010 branches throughout the country. Taking advantage of experienced manpower is an important factor that has further promoted Tejarat Bank’s place on the international standings. The Central Bank of The Islamic Republic of Iran - The Central Bank of Iran (CBI) was established in 1960 (1339 solar year). As stated in the Monetary and Banking Act of Iran (MBAI), CBI is responsible for the design and implementation of the monetary and credit policies with due regard to the general economic policy of the country. Persia International Bank PLC - Commenced trading in London on 29 April 2002 following the merger of the London branches of Bank Mellat and Bank Tejarat. They are the joint shareholders. Bank Sepah - The first Iranian bank, Bank Sepah was established in 1925, corresponding to the Iranian year 1304.Running three branches in Frankfurt am Main, Paris and Rome, and at the same time parenting Bank Sepah International plc London, as its wholly-owned subsidiary. Bank Saderat Iran - بانک صادرات ايران - Bank Saderat Iran (BSI) has the largest network of branches within Iran. The bank currently holds 23% of the total personnel and 29% of the branches of all commercial banks. The bank has 3,313 domestic branches and overseas branch offices located, in France, Bahrain, Egypt, UK, Greece, Oman, Qatar, Turkmenistan, Germany, UAE, and Lebanon. BSI has currently correspondent banking relations with more than 700 foreign banks. Parsian Bank - Parsian Bank held the founders’ assembly in July 2001 by virtue of the Act for Establishment of Non-Governmental Banks ratified in April 2000. Parsian Bank obtained business permission from the Central Bank of the I.R. of Iran. Parsian Bank’s opened for business in March 2002 upon concurrent inauguration of four branches. Karafarin Bank - A privately-owned bank.