World Business Bank (MB Bank)

World Business Bank, a Russian subsidiary of Iran's largest retail bank, Bank Melli Iran.

History

2023: Bringing an insurance company from Iran to the Russian market

In October 2023, Mir Business Bank (MB-Bank, a subsidiary of Bank Melli Iran) registered the Miran insurance company in Russia. According to the Unified State Register of Legal Entities (USRUL), the authorized capital of the legal entity is about 600 million rubles. The share of World Business Bank in the company is 90%, the remaining 10% belongs to Miras Financial Company, controlled by the bank. The general director of the company is Alexander Kuznetsov, who previously headed a number of insurance companies - Helios, Vernu and Guta-Strakhovanie. Read more here.

2022: Getting painted paper instead of €5m

In August 2022, in the Iranian Mir Business Bank, 5 million euros were replaced with purple paper. Cashiers casually took out 10 packages of money from the storage, each of which was supposed to have 500,000 euros. When the employees unpacked them, they saw that there were bills from the "joke bank" on top, and neatly packed purple colored paper inside.

"World Business Bank" works with Iran, from where they often bring large sums of cash.

2020

World Business Bank, the Russian subsidiary of Iran's largest retail bank, Bank Melli Iran, has ceased to disclose its full financial statements on the Central Bank's website. Its turnover sheets for August 1 and July 1 contain the symbols "ХХХХ" instead of the specific values ​ ​ of balance sheet accounts, although in the reporting on June 1 all accounts were reflected correctly.

The Bank's MB Profit and Loss Report for the second quarter and forms reflecting the state of capital and key ratios have also been published with exemptions.

Prior to this, the credit institution did not disclose only information about its shareholders.

2018: Hit by US sanctions

According to RBC, the bank has been under sanctions since November 2018. USA