IslamicFinance.de

The planned merger of three Iranian lenders will take place in the coming days. The three banks are: Mehr Eqtesad Bank, Samen Credit Institution, and Ansar Bank. Samen and Mehr Eqtesad are currently branded by the Central Bank of Iran (CBI) as "awaiting license". Farshad Heydari, CBI’s deputy for supervision, had already announced in March that Mehr Eqtesad and Samen would be acquired by Ansar Bank. The planned consolidation would be a watershed event in reducing the influence of shadow banks and making the Iranian banking system more efficient.

Managing director of the Iran's Melli Bank, Farshad Heydari has been removed from his position by the Bank's Association. The embezzlement case originally started back in 2007 by Amir Mansour Arya Investment Company and progressed in 2010, after some Iranian major banks, including Bank Saderat and Bank Melli, issued loans for the company.