Bank Melli Iran (BMI; Persian: بانک ملی ایران, romanized: Bânk-e Melli-ye Irân, lit.

Thus, it was published with a statement that showed the general feelings and popular interest in establishing a national credit bank in Iran in December 1906.

[8] On 23 November 1906, Mirza Abolqasem Nasser al-Malik, the Minister of Finance of the time of Muzaffar al-Din Shah, was present in the National Assembly.

[citation needed] The first CEO of the National Bank, Kurt Lindenblatt [de], and his vice-president, Fogel, came to Iran with 70 experts from Germany.

(Source:[13]) The Museum of BMI was opened with the presence of Eshaq Jahangiri, the first vice president, on 21 July 2017.

The Museum of BMI was opened with a collection of exquisite works of art, especially banking treasures from various historical periods of Iran, at savings fund building.

The National Bank of Iran has ancient objects from Achaemenid, Sasanian and artistic works, including paintings, lines, rugs and blankets.

The building of BMI Fund was constructed at Ferdowsi Street in Tehran in 1928; it was registered in the category of national works of Iran on 20 December 2000 by number of 2930.

The permitted commercial transactions involve exchange of goods and services in return for a share of the assumed profit.

All such transactions are performed through Islamic contracts, such as mozarebe, foroush aghsati, joale, salaf, and gharzol-hassane.

Details of these contracts and related practices are contained in the Iranian Interest-Free banking law and its guidelines.

But then, the news of "the government's inability to pay the debt" was denied by Khavari[27] Bank Melli Iran has 18 international branches and services in 11 countries: Following the September 1997 suicide bombing in Jerusalem, five American students who had been wounded were awarded $251 million in compensatory and punitive damages against the government of Iran and the Iranian Revolutionary Guard Corps by Judge Ricardo M. Urbina, under the Flatow Amendment of the Foreign Sovereign Immunities Act, in accordance with Section 201a of the Terrorism Risk Insurance Act of 2002, which states that "in every case in which a person has obtained a judgment against a terrorist party on a claim based upon an act of terrorism ... the blocked assets of that terrorist party ... shall be subject to execution".

Before turning over the funds to the five students, however, the Bank of New York sued for a legal decision regarding its responsibilities in the case.

The United States Department of Justice, speaking as amicus curiae in support of Bank Melli, advised that the bank had no responsibility for turning the funds over to the students; in March 2006, Judge Denise Cole ruled against them, and was upheld by the Second Circuit Court in April 2007.

[30] A fact sheet released by the US Treasury Department also asserts that between 2002 and 2006 Bank Melli sent at least $100 million to Hamas, Palestinian Islamic Jihad, Hezbollah and other groups, via the Quds Force, a branch of the Iranian Revolutionary Guard.

[28] In a statement published on its website, BMI refuted the US allegations and denied that it has ever been involved in any "deceptive banking practices".

These sanctions include the European Union freezing the assets of Bank Melli, in response to Tehran's refusal to suspend its uranium enrichment program.