Bank Melli Iran

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Bank Melli Iran, also called the National Bank of Iran, is the first national Iranian bank. The bank was established in 1927 by the order of the Majlis (the Iranian Parliament) and since then has consistently been one of the most influential Iranian banks. In 1931 the Iranian Majlis authorized the bank to print and distribute the Iranian currency rial. BMI acted as the central bank of Iran until Bank Markazi was established in 1960, after which all of its central banking responsibilities were transferred to the new central bank. Over the past 80 years, BMI has grown to become a large retail bank with several domestic and international branches. BMI opened its first foreign branch in Hamburg, Germany in 1965.