Change of CEO of Mehr Bank of Iran

According to monetary financial news, quoting online news, Seyed Saeed Shamsi Nejad will be appointed as the CEO of Gharz al-Hasna Mehr Bank of Iran. Shamsinejad has previously been a member of the board of directors of Gharz al-Hasna Resalat Bank and has also conducted various researches in the field of Islamic economics and Islamic banking.

Prior to this and since September 2016, Morteza Akbari has been the CEO of Bank Mehr Iran.

Bank Mehr Iran was established as the first specialized bank of Qarzat al-Hasna in 2007 with the participation of 10 major banks in the country. The initial capital of the bank was 15,000 billion rials, which will reach 25,000 billion rials with the increase of the capital in 1399. Also, the general assembly of the bank in 1399 approved the increase of the bank’s capital to 50,000 billion rials.

The bank now operates 525 branches across the country. The resources of this bank have increased by 16 times during the last 5 years and have reached 720 thousand billion Rials. The bank has also paid more than two million facilities per year over the past two years.