Export Development Bank of Iran


Export Development Bank of Iran is Iran's export-import bank. The bank was incorporated as a policy bank, owned by the Iranian government, and provides financial and other conventional banking services to Iranian exporters and importers.

Backgrounds

Pursuant to the approval made by the Extraordinary General Meeting of the Banks on July 10, 1991, the Export Development Bank of Iran was founded on November 24, 1991, as a state-owned bank. Under its charter, EDBI acts as the administrative arm of the Government of Iran to contribute to the national economy through promoting non-oil export of goods and other technical and engineering services of Iranian origin and also to enhance economic cooperation with other countries.

International credit ratings

Capital Intelligence | Credit Analysis & Ratings, the international credit rating agency, in 2018 announced that it has affirmed Export Development Bank of Iran's long- and short-term FCRs at ‘BB-’ and ‘B’, respectively, with a ‘Negative’ outlook, and remain at the sovereign level. The FSR is supported by the bank’s strong capital adequacy, its privileged access to low-cost government funding and its well managed cost base. Due to its special remit, and in light of the recent upgrade of Iran’s Sovereign Long-Term Foreign Currency Rating to BB-/B/Stable, EDBI’s Support Rating is raised to ‘2’ from ‘4’, which indicates a very high likelihood of further foreign currency liquidity and capital support being made available by the authorities.

Access to the Sovereign Wealth Fund

The Export Development Bank of Iran has access to the Government Fund administered by the National Development Fund of Iran which was founded in 2011. The NDFI has so far signed agency contracts with different Iranian banks including Exports Development Bank of Iran to allocate US$9 billion for supporting investments in the private Sector.

International Sanctions

After January 16, 2016, which marks Implementation Day of the JCPOA, currently Export Development Bank of Iran is not on the United Nations or the European Union Sanction Lists. However, according to on 05.11.2018, EDBI is on the SDN list and subject to Secondary Sanctions.