Bank Sepah

Bank Sepah was officially founded on 4 May 1925, with its first branch in Sepah Street in Tehran. Initially, an investment of 3,883,950 Iranian Rials was made from the military ranked personnel pension fund and the bank was set to exclusively provide military personnel with financial aids such as loans. With further increase in their domain of services, the headquarters for the bank was moved to a larger building in Homayoon st. Starting on 15 March 1926, with opening of another branch in Rasht, Bank Sepah began providing services not only to the military personnel but to the more general public such as businessmen.^[5]

Sepah migrated to core banking solution.^[6][7]

In 2025 Codebreakers hackers released entire 42 million database records of bank sepah from upto 1925.^[8] Bank Sepah threatened people who post the bank data legal action as hackers released list of top richest people in Iranian Islamic Republic military which own the large portion of bank share.^[9] List of people includes highest Bank Sepah saving accounts

• Abbas Gul Mohammadi 768 billion toman^[10]

• IRGC General Hassan Polark 634bn toman^[11]

• Alireza Arash 408 billion

• Muhammad Baradaran 321billion toman

• Nader Ghaffari 243 billion toman

• Rasol Sirati (military drone manufacturer) 235 billion toman

• Leila Kazemi 192billion toman

• Amirhossein Fadaei 179billion toman

• Alireza Mohammadi 162 billion toman

• Kazem Qalmaji owner of Ghalamchi schools 161 billion toman

• Gholamreza Shaker 159 billion toman

• Syed Jalil Hasheminia 150 billion toman

• Hassan Mehdizadeh 150 billion toman

• Parviz Kochi Shlamani 150 billion toman

Sanctions were imposed on Bank Sepah by the United States on 9 January 2007, due to Iran's suspected nuclear weapons program.^[12] The United States claimed that the bank assisted Iran in developing missiles that could carry nuclear weapons.^[13] and all its branches and subsidiaries in Italy, UK, France and Germany^[14] will have their assets frozen by the United States in order to prevent Iran from constructing nuclear weapons.^[13] The official website^[15] of Bank Sepah in Iran reacted by mentioning the American resolution "fabricated statements based on purely hypothetical pretext, made out of political inducements" and promised that the bank will "continue with its efficient performance with due observance of internal and international regulations as before."

On the same basis, further sanctions have also been imposed by the United Nations through Resolution 1747 of 29 March 2007 coinciding with the arrest by the Iranian Government of some British army personnel in the Persian Gulf.

In early 2016, following the talks of P5+1 with Iran on the Nuclear program of Iran, and the resultant Joint Comprehensive Plan of Action, sanctions against Bank Sepah were lifted.

• Banking and Insurance in Iran

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