This bank started its activities as Credit Institution in September 1999. Subsequently, in August 2002, it received a full banking license and changed its name to Saman Bank. Saman Eqtesad Credit Corporation was established on September 23, 1999 with a share capital of 11 bln Iranian Rials (US$1.4m).
The first official agricultural finance institution of Iran was established in 1930. The institution, decades later called The Agricultural Cooperative Bank of Iran (ACBI), grew gradually providing funds for small and medium-scale agricultural activities in villages nationwide.
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