The strong relationship with our parent company enables us to benefit from its vast domestic and international network, yet at the same time our independent Board of Directors has the flexibility needed to operate successfully in the fast moving and highly competitive world of international banking.
Building further on success is our objective, and as part of our ongoing strategic development plans, we have recently opened a branch in Hong Kong, extending our reach directly into the Far Eastern markets of China, South Korea and Japan, all of whom are amongst Iran's leading trading partners.
Melli Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, and conforms to all UK accounting standards and disclosure requirements.
1928 was a turning point in the banking history and economy of Iran for this was the year in which the first Iranian commercial bank was established. This bank was Bank Melli Iran and with it, after some forty years of foreign domination of the banking affairs of the country, the desires of the Iranian people were fulfilled.
Establishment of Bank Melli Iran and the revision concessions of foreign bodies brought greater order to the economic situation of the country. Bank Melli Iran increased the stability of the economic base and enabled development of agriculture, industry and commerce by collecting the people's deposits and applying the credits to the development of productive areas of the country’s economy. Bank Melli Iran, as an active stimulant for growth, successfully fulfilled an important role in the economic development of the country. The role of Bank Melli Iran continued to expand and in 1931 the bank was given the exclusive right for circulation of the banknotes of Iran by the parliament at that time
The role of Bank Melli Iran continued to grow with the Bank undertaking the banking operations of government such as arranging the cash flow, protecting the value of money, arranging credits, protecting the balance and supervising to banking system of the country, effectively performing the duties of central Bank. Eventually, this situation was addressed and in 1950, following approval of banking and monetary law, Iran established a Central Bank. The establishment of a separate Central Bank allowed Bank Melli Iran to focus on commercial affairs and development of transactions.
In almost eighty years since the establishment of Bank Melli Iran the country has seen many great changes. Bank Melli Iran has been in a position to assist and benefit from those changes.
Melli Bank Plc is a UK incorporated bank, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority and conforms to all UK accounting standards and disclosure requirements. It is a wholly owned subsidiary of Bank Melli Iran, the largest bank in Iran which has had a presence in London since 1967. Melli Bank Plc acquired the assets of the London branches of Bank Melli Iran upon commencement of its operations in January 2002.
The Bank has developed a proficient compliance team with the aim of continuing full compliance with regulatory demands throughout the Bank, as well as providing timely and accurate guidance to the business. Rules are strictly enforced at all times, and the correct guidance followed, as a result of the close and effective relationship the bank maintains with regulators.
The Bank recognises the critical importance of the fight against money laundering and financing of terrorism. To this end the Bank enforces strict compliance and adherence to both the letter and spirit of the United Kingdom’s and Hong Kong’s regulations for fighting against financial crime.
Relevant members of staff receive specialised in-house training and external training to remain fully familiar and conversant with all pertinent guidelines and regulations. The Bank remains alert to any activity or transaction that might give rise to suspicion. Bank staff are fully trained in the internal reporting process of suspicious activities. In accordance with the Bank’s ethos the compliance team continues to expand its expertise to meet the growing changes in regulation. In consequence the Bank will benefit from a stronger and well informed management team.
Please click the following links to download the documents.
Melli Bank Plc Anti Money Laundering and Combating the Financing of Terrorism Statement
Wolfsberg AML questionnaire
W8-Ben E form for Melli Bank Plc
Complaints procedures for Melli Bank Plc (UK)
Complaints procedures for Melli Bank Plc Hong Kong Branch