Tourism Bank
 | |
| Company type | Public company |
|---|---|
| TSE: GRDZ1 | |
| ISIN | IRO3GRDZ0001[1] |
| Industry | Financial services, Banking |
| Founded | 2010 |
| Headquarters | Tehran, Iran |
| Services | Retail banking Financial services Mortgage loans Private banking Investment banking Commercial bank Credit card wealth management |
| Total assets | 1,427,541,448 million rials (2024)[2] |
| Subsidiaries |
|
| Website | www |
Tourism Bank (Persian: بانک گردشگری, romanized: Bank-e Gardeshgari) is a private Iranian bank established in 2010, primarily focused on supporting Iran’s tourism industry. The bank offers a variety of financial services, with a particular emphasis on promoting and developing the country’s tourism sector.[3][4][5][6]
History
[edit]Tourism Bank was first introduced in 2008 as a specialized bank for the tourism sector. It was established through a joint venture between the private sector and the Central Bank of Iran, and officially began operations in 2010. In 2019, the bank’s shares were listed on the Tehran Stock Exchange under the ticker symbol "GRDZ1".[7][8][9][10]
Services and Products
[edit]Tourism Bank provides a range of financial services, including foreign exchange facilities, issuance of bank guarantees, and opening letters of credit (LCs). The bank also offers specialized services for tourism-related businesses and works to support the growth of Iran’s tourism industry through international platforms.[11]
Membership in International Organizations
[edit]In 2015, Tourism Bank became an affiliate member of the United Nations World Tourism Organization (UNWTO), becoming Iran’s first bank to join the organization. Through this membership, the bank aims to enhance international cooperation and engage with global tourism-related entities, benefiting from networking opportunities and shared expertise.[12][13]
Sanctions
[edit]In 2018, the U.S. Department of the Treasury sanctioned Tourism Bank for its alleged involvement with the Islamic Revolutionary Guard Corps-Quds Force. The bank was accused of facilitating financial transactions and providing financial support to the IRGC-QF, leading to its inclusion on the U.S. sanctions list. These sanctions were part of broader efforts to cut off access to the international financial system for entities linked to Iran's military operations.[14][15][16][17]
See also
[edit]
References
[edit]- ^ "Tourism Bank, акция обыкновенная (IRO7GRDZ0001, GRDZ1)". InvestFunds.ru (in Russian).
- ^ "کفایت سرمایه" (PDF). tourismbank.ir (in Persian). October 2, 2024. Retrieved December 9, 2024.
- ^ "Bank Melli Iran Invests $25m in Startups". Financial Tribune. October 4, 2017.
- ^ "Iran to set up first tourism bank". Tehran Times. July 24, 2008.
- ^ "Tourism Bank to Help Startups". Financial Tribune. January 16, 2018.
- ^ "معرفی بانک گردشگری". tourismbank.ir (in Persian). October 19, 2020.
- ^ "Iran to set up first tourism bank". Mehr News Agency. July 23, 2008.
- ^ "Tourism Bank Returns to IFB". Financial Tribune. May 4, 2018.
- ^ "Tourism bourse to be set up by Oct. 22". Mehr News Agency. September 9, 2008.
- ^ "معرفی بانک گردشگری". tourismbank.ir (in Persian). October 19, 2020.
- ^ "Tourism Bank Expanding Operations". Financial Tribune. April 17, 2016.
- ^ "Tourism Bank Joins UNWTO". Financial Tribune. October 11, 2015.
- ^ "UNWTO elects new affiliate members from Iran". Tehran Times. November 3, 2018.
- ^ "Sanctions List Search". OFAC.
- ^ "TOURISM BANK". Open Sanctions.
- ^ "Treasury Sanctions Eighteen Major Iranian Banks". U.S. Department of the Treasury. October 8, 2020.
- ^ "US Announces Sanctions on 18 Iranian Banks". Voice of America. October 8, 2020.
