Bank Saderat Iran Case Study
Bank Saderat Iran
1. Bank Saderat Iran was established on September 1952 as a private bank (BSI, Annual Report , 2011). After Iranian revolution, in June 1979 all Iranian banks were nationalized to dismay and became state owned. It has largest network within Iranian banking system with 2700 local branches, 21 overseas branches.
2. Islamic Contracts: these are contracts under which banks are authorized to grant facilities to the customer and participate indirectly in the investments: Quardh Al Hassaneh, Direct Investment, Guarantees etc., Electronic Banking: Mobile banking, Internet Banking, Bill, Gold deposits, Investment deposit for Children’s Future prosperity, marriage portion, farmers and workers’ future prosperity etc (BSI, Annual Report , 2011).
3. BSI went international in 1961 by opening a branch in Hamburg and thereafter opened branches in major European cities and Gulf region.
4. Management at
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Esfahan Mobarakeh Steel Company (MSC) is the largest steel producer in the MENA region with 24 times the production capacity of Israel’s Iskoor Metals & Steels (2nd largest). It produces more than 50% of total steel in Iran for sectors such as automotive, construction, household and packaging. It operates in 7 different Industrial zones and employs more than 20,000 Iranians. This makes MSC particularly important in terms of employment and growth. (Mobarakeh Steel Company, n.d.)
2. MSC was commissioned after the Iranian revolution in 1979. Starting with humble beginnings and basic products in Mild steel & Rolled steel, currently MSC has 18 different product categories and is the largest producer of Direct Reduced Iron (also known as Sponge Iron), a matter of great pride for the Iranians. (Mobarakeh Steel Company, 2013-14)
3. MSC started with providing steel to Iran’s basic infrastructural needs and currently exports its products to Europe, Canada, Latin America, South East Asia and other MENA countries. (Mobarakeh Steel Company,
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