VZCZCXRO8732
OO RUEHBC RUEHDE RUEHDIR RUEHKUK
DE RUEHC #7414/01 1011355
ZNR UUUUU ZZH
O 101349Z APR 08
FM SECSTATE WASHDC
TO RUCNDT/USMISSION USUN NEW YORK IMMEDIATE 1286
IRAN COLLECTIVE

UNCLAS SECTION 01 OF 02 STATE 037414 
 
SIPDIS 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: KNNP IR PREL PARM
SUBJECT: ADDITIONAL INFORMATION ON IRANIAN-RELATED 
ENTITIES IN FINCEN ADVISORY 
 
REF: STATE 29398 
 
¶1.  (U)  This is an action request.  Please see paragraph 3. 
 
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SUMMARY/BACKGROUND 
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¶2.  (U) On March 20, the U.S. Treasury Department's Financial 
Crimes Enforcement Network (FinCEN) issued an advisory to 
U.S. financial institutions on the risks to the international 
financial system arising from the deficiencies of Iran's 
anti-money laundering and combating terrorist financing 
(AML/CFT) regime.  Washington requested that Mission present 
the advisory to the UNSC Iran Sanctions Committee (reftel). 
The advisory also references UNSCR 1803's call on states to 
exercise vigilance over transactions with Iranian banks, and 
for clarification, the FinCEN advisory includes a list of all 
banks that the USG considers to be Iranian financial 
institutions.  FinCEN based this list on the criteria in 
paragraph 10 of UNSCR 1803:  banks domiciled in Iran and 
their branches and subsidiaries abroad.  Some countries, 
however, have questioned the link to Iran for those 
institutions listed in the advisory that are located outside 
Iran.  This cable provides more detailed information 
concerning the ownership structure of these institutions. 
 
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OBJECTIVE/ACTION REQUEST 
------------------------ 
 
¶3.  (U) Washington requests that Post, as appropriate, 
provide the additional information in paragraph 4 in response 
to questions or when the opportunity arises.  If 
opportunities to use the information arise, Post should 
underscore the calls for increased vigilance with respect to 
Iranian financial institutions in UNSCR 1803 and to 
deficiencies in Iran's AML/CTF regime in FATF statements. 
Post should also emphasize the growing international 
consensus on the risks of engaging in Iran-related financial 
transactions. 
 
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ADDITIONAL INFORMATION ON BANKS LISTED IN FINCEN ADVISORY 
--------------------------------------------- ------------ 
 
¶4.  (U) Most of the banks in the FinCEN advisory are easily 
classified as Iranian institutions because they are domiciled 
in Iran or are branches of Iranian banks. Seven of the banks, 
however, are located outside of Iran and the information 
provided in the FinCEN advisory, which consisted of names and 
locations only, did not explain their connection to Iran. 
 
-- Arian Bank (Kabul, Afghanistan).  According to open source 
information on the international banking industry, Arian Bank 
is a joint venture between Iran's Bank Melli and Bank Saderat. 
 
-- Banco Internacional de Desarrollo SA (Caracas, Venezuela). 
According to open source information, Banco Internacional de 
Desarrollo SA is a branch of the Export Development Bank of 
Iran (EDBI). 
 
-- Europaeisch-Iranische Handelsbank AG (Hamburg, Germany). 
According to available open source information on 
international businesses, the Iranian Bank of Industry & 
Mines owns more than 50%, Bank Mellat owns more than 25% and 
Bank Tejerat owns less than 25%.  There are two branches also 
located in Iran. 
 
-- Future Bank BSC (Manama, Bahrain). According to its 
corporate documents, Future Bank BSC is controlled by Iran's 
Bank Melli, while Iran's Bank Saderat also holds a stake in 
the bank.  Collectively, banks domiciled in Iran own 
approximately 66% of this bank, which qualifies this bank, 
for purposes of paragraph 10 of UNSCR 1803, as a subsidiary 
of banks domiciled in Iran. 
 
-- Iran Overseas Investment Bank PLC (London, UK) now known 
as Bank Saderat PLC.  According to open source information, 
Iran Overseas Investment Bank PLC (n.k.a. Bank Saderat PLC) 
is a wholly owned subsidiary of Iran's Bank Saderat. 
 
-- Persia International Bank PLC (London, UK).  According to 
the 2006/2007 Annual Report of Persia International Bank PLC, 
Iran's Bank Mellat owns 60% and Iran's Bank Tejarat owns the 
remaining 40%, making this bank a subsidiary of a bank 
domiciled in Iran.  Open source information shows that Bank 
 
STATE 00037414  002 OF 002 
 
 
Melli and other Iranian banks list the Persia International 
Bank PLC as a correspondent bank, while Bank Melli 
additionally lists the Persia International Bank as their 
only settlement bank for U.S. dollar settlements. 
 
-- Persia International Bank PLC (Dubai, UAE).  According to 
the 2006/2007 Annual Report of Persia International Bank PLC, 
this bank is a branch of the London-based Persia 
International Bank.  It is therefore owned by Bank Mellat and 
Bank Tejarat, qualifying it, for purposes of paragraph 10 of 
UNSC resolution 1803, as a subsidiary of banks domiciled in 
Iran. 
 
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REPORTING DEADLINE 
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¶5.  (U)  Mission should provide a readout only if the 
information contained herein is used in response to questions 
at the time the advisory is presented to the Sanctions 
Committee.  Please slug replies for ISN, IO, T, TREASURY, and 
NEA/IR.  Please include SIPDIS in all replies. 
 
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POINT OF CONTACT 
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¶6.   (U)  Washington point of contact for follow-up 
information is Jennifer Chalmers, ISN/CPI, (202) 647-9715, 
chalmersja@state.sgov.gov. 
 
¶7. (U)  Department thanks the Mission for its assistance. 
RICE