Bank Melli

The idea of a modern bank in Iran was first put to Naser al-Din Shah in 1258 solar (1879–80)—ten years before the Imperial Bank—by Haj Mohammad Hassan Amin al-Zarb, one of Tehran’s great money-changers.

On 23 Aban 1285, Finance Minister Mirza Abolqasem Naser al-Molk told the National Consultative Assembly of the country’s financial distress and proposed a European loan—met with strong opposition. After debate, on 9 Azar that year deputies approved founding a bank that would serve the nation through people’s deposits.