As the first established Iranian bank, Bank Sepah started its operations on May 4, 1925 with an initial capital of IRR 3,883,950 in a shopping center in Tehran. The Bank Articles of Association were fundamentally revised in 1926, thus enabling it to render financial and banking services in any economic activities.
Now, as one of the most influential Iranian financial institutions, Bank Sepah, with 90 years of experience, effectively contributes to the achievement of the country’s macroeconomic goals through mobilizing the funds from depositors and allocating them to the productive sectors.
With a paid-in capital of IRR 75,531 billion, the Bank now plays a significant role in the economic development of Iran, through providing services on both national and international bases, within the framework of its three-year Strategic Plan, taking full advantage of its 1766 domestic branches, the three branches in Paris, Rome and Frankfurt and one wholly-owned subsidiary, Bank Sepah International plc, in London.
The bank has recently designed and executed Top Quality Customer Satisfaction scheme to further enhance its client-oriented performance. The following are among the highlights:
• Providing the clients with the necessary information through the Bank’s website, direct phone lines, and information stands;
• Elaborating the Bank’s services through brochures, annual reports, banners, T.V. and radio advertising, publications and billboards; and
• Executing 5S methodology throughout branches in order to increase security, improve the Bank’s services and gain the satisfaction of the clients.
With regard to the lifting of sanction and the relaunching of SWIFT, this Bank is prepared to issue various kinds of letters of credit, documentary collections, Payment orders, guarantees, and render other international banking services.
The UN Security Council and the European Union lifted all sanctions on Bank Sepah, its overseas branches (i.e. Rome, Paris and Frankfurt Branch) and Bank Sepah International, PLC.
Deposits
Term Deposits
At least the equivalent of USD 1,000.00 is needed for opening this account in favour of Iranian and foreign individuals and legal entities in euros and US dollars.
The following operations are allowed through this account:
* Issuing international payment orders in foreign currencies
* Crediting the funds of incoming foreign currency payment orders
Qardhul Hassan Savings Accounts
At least USD 100.00 or its equivalent in other convertible currencies is needed for opening this account which is bearing no interest. The holders of this account are entitled to a prize draw if qualified. This account may be opened for Iranian and foreign individuals and legal entities in euros, British pounds, US dollars, Japanese yens, Swiss francs, and UAE dirhams.
Qardhul Hassan Current Accounts
At least USD 2,000.00 is needed for opening this account for individuals who hold a valid commercial card; otherwise, minimum requirement is USD 10,000.00. This account is bearing no interest and may be opened for all Iranian and foreign individuals and legal entities in euros, British pounds, US dollars, Japanese yens, Swiss francs, and UAE dirhams.
The following operations are allowed through this account:
* Issuing international payment orders in foreign currencies
* Crediting the funds of incoming foreign currency payment orders
As per customer's request, funds can be converted to IRR or other currencies.
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