MIRA INFORM REPORT

Report Date :

21.06.2007

IDENTIFICATION DETAILS

Name :	Central Bank Of Islamic Republic Of Iran
Registered Office :	No. 144, Corner of Pegah Alley, Opposite of Alghadir Mosque, Mirdamad Blvd, Tehran - 1549636511
Country :	Iran
Financials (as on) :	20.03.2005
Date of Incorporation :	1958
Legal Form :	State Owned Concern
Line of Business :	Financial Services

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

Company Name

Full Company Name   : Central Bank Of Islamic Republic Of Iran

Persian Name  : Bank Markazi Joumhouri Eslami Iran

Other Trading Style Name(S) : Central Bank I.R

Acronym : CBI

Important Briefing

Business Open Date 1960

Legal Form: State Owned Concern

Nominal Capital: IRR 1,200,000,000,000.00

Industry: COMMERCIAL BANKS

Activity: Financial Services

No. of Employees: 4,200

Management Address

Address: No.144, Corner of Pegah Alley, Opposite of Alghadir Mosque, Mirdamad Blvd

City: Tehran

Postal Code: 1549636511

Country: Iran

Telephone: 009821 59951

Fax: 009821 29954780

Email : G.SecDept@cbi.ir

Website: www.cbi.ir

Registration Detail

Business Open Date: 1960

Registration Date 1958

Present Legal Form State Owned Concern

City of Registration Tehran

Registration office No.144, Mirdamad BLVD

Postal Code 1549636511

Registration Country Iran

Operations

Employees 

No. of Employees: 4,200

Main Physical Premises

Operates From: Owned Office

Real Estate Status:  On a Central Business Area- Main Road- Near an airport

Branches ( Warehouse, Office, Factory

etc.)

Address: No.312, Ferdowsi Avenue

City: Tehran

Country: Iran

POBOX: 11365/8531

Tenure: Owned Administrative Office

Location: On a Central Business Area- Main Road- Near an airport

Size: 38,000 sq/m

Telephone: 009821 64461

Fax: 009821 66735674

Address: Pasdaran Avenue, Department No.201

City: Tehran, 16649

Country: Iran

Tenure: Operates as printing of paper money

Location: On a Central Business Area- Main Road- Near an airport

Telephone: 009821 27891

Fax: 009821 22848957

Capital

Issued Capital IRR 122,000,000,000.00

Nominal Capital All

Paid up capital All

Previous Capital IRR 400,000,000,000.00

Principals information

Name : Dr. Ebrahim

Last name: Sheybani

Title: Governor

Nationality: Iranian

University degree: PHD

Major:

Name : Mr. Mohammad Javad

Last name: Vahaji

Title: Vice- Governor

Nationality: Iranian

Name : Dr.

Last name: Shojaoodin

Title: Vice- Governor -Financial & Administrative

Nationality: Iranian

University degree: PHD

Major:

Name : Mr. Mohammad Jaafar

Last name: Mojarrad

Title: Vice- Governor - foreign exchange

Nationality: Iranian

University degree:

Major:

Name : Mr. Akbar

Last name: Komeijani

Title: Vice- Governor - Economic

Nationality: Iranian

Name : Mr. Gholam Reza

Last name: Naderi

Title: Vice- Governor -International Department

Nationality: Iranian

Business Activity  

Industry Commercial Bank

Activity Financial Services

The duties of this bank is fulfillment and performance of monetary and credit policies in regards to government overall programs. Subject publishes paper money and is government banker and supervises gold transaction also is banker of other banks supervises their operations and evaluates the total amount of loans and credits that banks are allowed to have. Subject is also responsible for the accounting of ministries and governmental institutes and etc as the government banker.

Postal Details

P O BOX: 15875/7177

Postal Code: 1549636511

P O Suburb Tehran

Balance Sheet

USD 1 = IRR 9,270

Currency = Iranian Rial (IRR)

			BALANCE SHEET
			AS AT END OF 1383 ( MACH 20,2005)
	March, 19,2004	ASSETS				March 20,2005
		Note cover
		Gold, foreign exchange, quote& subscription to				48,500,000,000,000
42,500,000,000,000		international agencies and govermment obligatin				416,160,238,542
737,299,859,293		Ntes and coins held at the Central Bank				2,869,877,267,494
3,267,066,802,750		Free Gold Holdings				279,030,826,749,766
194,398,615,627,348		Foreign Exchange assets
		Loans and credit to:
84,869,398,163,064		Governmment				76,783,867,848,381
18,898,088,723,934		Government Institutions and corporations				20,431,497,036,650
0		Public Institutions and corporations				0
18,468,138,755,809		Banks				15,447,156,291,600
5,074,091,501,111		Government revolving funds kept with banks				6,046,071,467,276
6,605,129,636,957		Government securities				4,423,305,328,387
1,046,364,710,313		Fixed assets ( less accumulated depreciation)				1,141,531,459,383
2,396,640,374,761		Other assets				2,160,666,562,611
378,260,834,155,340							457,250,960,250,090
		Customers' undertaking regarding opened letters of
14,740,937,897,403		Credit and guarantess		16,344,715,451,806
393,001,772,052,743						473,595,675,701,896
430,904,539,548				Assets of the Central Bank employees'		641,633,733,283
				Retirement Fund
34,822,877,078				Assets of the Central Bank employees'		42,725,134,391
				Saving Fund
25,067,193,090				Assets of the Central Bank employees'		48,606,911,638
				Co-operations Fund
393,492,566,662,459						474,328,641,481,208
							Amount IN RIALS
March 19, 2004				Liabilities	March 20,2005
42,500,000,000,000				Notes Issued	48,500,000,000,000
342,923,384,609				Coins issued	393,512,378,609
16,649,704,000,000				Central Bank' Participation Papers	20,250,298,000,000
				Deposits:
124,977,653,859,106				Government sight	154,216,037,621,973
7,612,904,424,643				Government Institutions & Corprations: demand	8,696,572,583,927
1,616,316,751,438				Non- Government public institutions & corporations:dmand	1,635,618,189,040
				Banks and credit institutins:
76,301,509,476,000				Legal	95,570,191,098,000
6,123,072,214,649				Demand	6,361,593,389,965
0				Special term deposits	0
261,110,306,757				Advance payment on letters of credit	149,305,262,878
3,696,605,416,957				Special	1,787,781,108,387
86,382,297,414,363					103,868,870,859,230
15,395,916,548,927					Other deposits			20,439,154,073,942
305,709,457,510					Income tax			455,676,130,202
354,666,000,000					Government's share in net profit			906,178,000,000
50,798,191,475,225					Other Liabilities			46,619,102,116,923
800,000,000,000					Capital			1,200,000,000,000
478,089,838,776					Legal Reserves			780,149,355,172
403,167,638,656					Contingent Reserves			1,344,746,638,656
29,370,292,780,949					Foreign Exchange assets' and liabilities ' revaluation reserve			47,945,043,905,741
581,138					Net Profit Carries Forward			122,675
378,260,834,155,340					457,250,959,976,090
14,740,937,897,403					Letters of credit and guarantees				16,344,715,451,806
393,001,772,052,743					473,595,675,427,896
					Liabilities of the Cntral Bank Employees'
430,904,539,548					Retirement Fund			641,633,733,283
					Liabilities of the Cntral Bank Employees'
34,822,877,078					Saving Fund			42,725,134,391
					Liabilities of the Cntral Bank Employees'
25,067,193,090					Cooperation Fund			48,606,911,638
393,492,566,662,459					474,328,641,207,208

Profit and Loss Statement

	PROFIT AND LOSS ACCOUNT
	AS AT END OF 1383 ( March 20,2005)
2003/04			2004/05
2,793,767,933,491		Returrns on deposits and investments aboard												4,782,352,993,890
1,258,382,850,975				Profit received from facilities extended										1,207,808,446,258
116,853,860,434				Commissions recevived for banking services										114,722,579,054
1,528,919,094,817			Results of foregn exchange and gold transactions											1,594,424,827,395
948,160,289,388				Profit paid special participation papers										1,507,180,467,280
378,044,993,994				Other incomes										1,929,604,453,200
7,024,129,023,099														11,136,093,767,077
					Appropriation Account
1,182,221,188,343					Net Profit									3,020,595,163,955
75,081						Net Profit carried forward								581,138
1,182,221,263,424														3,020,595,745,093
												AMMOUNTS IN RIALS
2003/04												2004/05
83,772,421,893											Cost of receiving credit and ovrdraft from foreign banks			63,807,830,635
658,407,634,134								Rewards paid on banks' legal deposit						832,530,094,302
2,906,713,860,249								Profit paid of Central Bank's Participations papers						3,421,364,204,296
962,460,289,388						Profit Paid on Banks' special deposits								1,507,180,467,280
322,703,675,286						Commissions paid on banking services								367,792,316,381
46,606,639,000						Result of foreign exchange revaluation-adjustment								848,107,837,595
562,712,766,943								Administrative and personnel expenditures						698,144,438,367
180,752,940,145								Money Issue and miscellaneous printing expenditures						317,127,845,627
61,250,940,951								Accumulated Depreciation of fixed assets						58,847,795,210
56,526,666,767									Other Expenditures					565,773,429
1,182,221,188,343									Net profit					3,020,595,163,955
7,024,129,023,099														11,136,063,767,077
305,709,457,510													Income Tax 455,676,130,202
118,222,118,834													Transfr to legal reserve	302,059,516,396
397,712,000,000							Transfer to contingency reserve							1,341,579,000,000
354,666,000,000							Governement's share in net profit							906,178,000,000
										0.5% of net profit allocated to low-income groups for
5,911,105,942										housing provision				15,102,975,820
581,138										Net profit carried forward				122,675
1,182,221,263,424														3,020,595,745,093

Impotants Notes

All Governmental Banks of Iran are under supervision of Central Bank IR, and Subject has investment in different fields of industries through Tehran Stock Exchange Market.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions