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Banking

Iran Best Bank: Bank Mellat Iran

Bahrain I Egypt I Iran I Israel I Jordan I Kuwait I Lebanon I Morocco I Oman I Qatar I Saudi Arabia I United Arab Emirates I Lifetime Achievement Bank Mellat, Iran’s third-largest bank, increased its assets by 31.4% to $23.6 billion in the past year and total operating income by 53.3% to $1.35 billion, as well as looking to develop further its international network by opening a subsidiary in South Korea.

Equally important has been the bank’s readiness to innovate. Last year it introduced Mellat card, which offers a wide range of services including cash credit and withdrawal, funds transfer and payments for services such as energy and telephone bills.

Bank Mellat is the first bank in Iran to offer this level of service by launching a smart card – this has been introduced with high security which has kept fraud to virtually zero.

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