NO. 12/13


Financial and Banking News

Regional Banking

Changes at Top of Iranian Banks

Mr. Mehrdad Bagheri, the chairman of Iran's Bank Mellat, has resigned, andhas been replaced but the Chairman of Iran's Bank of Industry and Mines (BIM),Mr. M. Arami. Mr. Bagheri's resignation means that he automatically ceases to beChairman of the London-based Iran Overseas Investment Bank, in which fourIranian banks have 25% stakes. As chairman of BIM, Mr. Arami was also Chairmanof...