Iran Zamin Bank Public Share Holding Company (hereinafter referred to as Zamin Bank) is a pioneer in the Iranian financial market. Outstanding performance in investment banking and digital finance. Established in Tehran on March 12, 2011, it is registered as a public company limited by shares under a license (No. 283592/89) issued by the Central Bank of Iran (CBI) and registered with the Tehran Register of Companies and Non-Commercial Companies on March 15, 2011 (No. 399279). Zamin Bank officially launched its Islamic banking services on 23 April 2011 and was listed on the Iran Fara Bourse Stock Exchange on 27 September 2011 under the ticker symbol VAZAMIN. Headquartered in Mirdamad Boulevard, Corner of Shams-E-Tabrizi St, Block 187, Zamin Bank serves approximately 2 million customers and is one of the leading Islamic banks in Iran thanks to its solid financial performance and innovative capabilities.

basic bank information

Zamin Bank is a commercial bank, privately owned, established on March 12, 2011 and headquartered in Tehran, Iran. Founded by a group of prominent personalities from the manufacturing, services, banking and healthcare sectors, the bank has an initial capital of SAR 200 billion, of which the founders hold 51.75% (SAR 103.5 billion) and the public subscription holds 48.25% (SAR 96.5 billion). The subscription of the shares was completed on February 24, 2011, and on March 25, 2011, it was listed on the secondary market of the Farah Stock Exchange as the 35th market symbol (VAZAMIN), and trading was launched on May 7, 2011. Zamin Bank is strictly regulated by the Central Bank of Iran and is required to comply with the Law on the Bank of Iran and international Islamic finance standards to ensure transparency in operations and the safety of customer funds. Their deposits are protected by the Iranian Deposit Insurance Program, up to a maximum amount of protection in accordance with the regulations (the exact amount should be consulted with the bank). The bank's SWIFT code is SABCIRTH and the registration number is 399279. Zamin Bank has about 100 branches and hundreds of ATMs in Iran, with a total of about 174 employees in 2024.

deposit and financing products

deposits Zamin Bank offers Shariah-compliant deposit products based on a profit-sharing (Mudaraba), correspondent investment (Wakala) or deposit-custody (Wadiah) model to meet the savings needs of individual and corporate customers based on an expected rate of return (EPR) rather than traditional interest:

Demand Deposits: including instant access accounts, such as "Wadiah Current Account" and "Investment Savings Account", with a minimum opening amount of 0 riyals and an expected profit margin of about 0.5%-1.0%, the latest rate needs to be confirmed through branch or online banking. The account supports flexible deposits and withdrawals, no monthly fees, and invests in low-risk ethical transactions (e.g. real estate, sukuk), suitable for daily money management (deposit services).

• Fixed Deposits: Support Iranian riyal, US dollar, euro and other currencies, deposit terms from 1 month to 5 years, the minimum deposit is 1 million riyals. In 2025, the expected profit margin varies according to the term, e.g. 10% for 1 month, 12% for 3 months, 15% for 6 months, 18% for 12 months, and 20% for 2-5 years. Investing in Shariah-compliant assets (e.g. infrastructure, agriculture) is shared by the bank and the client in an agreed proportion.

• Featured Products:

  • High Yield Savings Accounts: e.g. "Investment Deposit", which offers an expected profit margin of up to 20%, requires maintaining a balance of more than SAR 5 million, no monthly fees, and diversifies the portfolio through a diversified portfolio (e.g. real estate, trade) to attract high-net-worth clients (investment deposits).

  • Wakala Investment: Supports flexible tenors, suitable for customers with large amounts of funds, the expected profit margin needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of profit.
    Customers can check the expected profit margin through the "IZBank Mobile" app or online banking, deposit products can be opened and calculated instantly, and some accounts offer free transaction fees.

FinancingZamin

Bank offers Shariah-compliant financing products based on the Murahbaha (cost-plus), leased (Ijarah), commodity Tawarruq or joint venture (Musharaka) model, Alternative to traditional loans:

• Home Financing (Murabaha/Ijarah): Financing up to 80% of the value of the property for up to 20 years using a cost-plus or lease model. In 2025, the annualized profit margin will be about 18%-22% (fixed or floating, based on the value of the property), green financing discounts (energy-efficient properties) will be provided, and the application will require a credit score of more than 700 and an annual income of more than 50 million riyals.

• Murabaha: Financing for new and used cars with a maximum financing amount of SAR 1 billion, a term of up to 5 years, an annualized profit margin of about 15%-20%, and a credit score of 660 or more.

• Consumer Financing (Tawarruq): Financing from SAR 10 million to SAR 5 billion, with a term of 1 to 5 years, an annualized profit margin of about 15%-20%, an annual income of SAR 30 million or more and a good credit history, and the customer needs to be at least 21 years old.

• Flexible payment options: Home finance and consumer finance support early payment without penalty, monthly or bi-weekly payment plans, giving customers the flexibility to manage payment contributions.
  All financing is subject to bank approval, and customers are required to provide credit history, proof of income and asset information, the specific terms of which are subject to the financing agreement. The bank's corporate finance services (e.g. Musharaka, Eastna) provide additional support to SMEs.

digital service experience

Zamin Bank's mobile banking app "IZBank Mobile" is the core of its digital services, which is available for download on iOS 14.0 and above, Android 9.0 and above, with an App Store rating of about 4.5 and a Google Play rating of about 4.3, with users praising it for its quick launch (in less than 2 seconds), intuitive interface, and multi-language support (Farsi, English). Core features include:

• Face recognition: support for biometric authentication (such as Face ID and Touch ID), combined with 256-bit end-to-end encryption to ensure transaction security.

• Real-time transfers: Support real-time transfer of riyals through the Iranian interbank clearing system, with a daily limit of up to 10 billion riyals, international remittances covering multiple countries, and cooperate with Western Union to provide low-rate transfers.

• Bill management: Support online bill pay, automatic debit, and e-statement, classify transactions in real time, and allow up to five bills to be paid at a time.

• Investment Tool Integration: Support Sukuk, real estate investment and fund trading through an investment platform that provides real-time market data and advisory services.
  The online banking platform "IZBank Online" supports multiple browsers and provides similar functions, allowing customers to open an account in 5 minutes through the app or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. In 2023, about 50% of customers complete transactions through digital platforms, significantly improving the user experience.

technological innovationZaming

Bank is actively exploring in the field of fintech to drive digital transformation through its information technology division:

• AI customer service: Introduce an AI-driven customer service system to analyze transaction behavior and detect fraud risks in real time, automate 80% of customer inquiries by 2023, and plan to launch a virtual assistant in 2025 to support 24/7 inquiries and personalized financial advice.

• Open Banking API Support: Following the Central Bank of Iran's Open Banking Framework, integration with third-party service providers provides account management and financial services interoperability, with support for 35 deposit, credit card, and financing service APIs by 2024.

• Blockchain payment: Pilot a blockchain-based payment platform in 2023 to simplify cross-border transactions and improve efficiency and transparency.

• Electronic KYC (eKYC): Launched in 2022 to allow customers to apply for financing, credit cards and accounts online through "IZBank Mobile" without visiting a branch, with full rollout in 2024.

• Other innovations: support for local payment systems (e.g. Shetab), mobile check deposit functionality; Invest 500 billion riyals in 2024 to upgrade cloud technology and data analysis platforms to improve operational efficiency.

featured services and differentiation

Zamin Bank is known for its Shariah-compliant financial services and innovative deposit schemes

• Shariah compliant: All products are certified by an independent Shariah Supervisory Board, and investment activities involving alcohol, tobacco, gambling and other industries are prohibited to ensure ethical investment and attract a wide customer base.

• Investment Deposit Program: Diversified investment portfolios (e.g. real estate, agriculture, trading) are offered through "Investment Deposit", and the participating customers account for 20% of the retail customer base in 2023, significantly increasing customer stickiness.

• SME support: Provide low-threshold financing through corporate banks (such as Musharaka, Murabaha), participate in the Iranian government's SME financing program, and obtain financing approval in as fast as 10 seconds, with an amount of up to 5 billion riyals, and the balance of SME financing will increase by 15% in 2023.

• Green Finance: Issuing green sukuk to support sustainable energy and agriculture projects, in response to the United Nations Principles for Responsible Banking, with a cumulative green financing of 100 billion riyals in 2023.

• Community Contribution: Supporting educational, medical and charitable projects through the Zamin Bank Foundation, donating 100 billion riyals for community development in 2023, holding financial literacy lectures to improve the financial literacy of young people.

market position and accolades

Zamin Bank is one of Iran's leading Islamic banks, with total assets of about 400 billion riyals (about $10 billion) in 2024, ranking among the top in Iran's banking industry. With approximately 100 branches serving approximately 2 million customers (including 1.6 million individual customers and 400,000 corporate customers), the Bank has a strong position in retail, corporate and investment banking. In 2023, banks reported an 8% increase in deposit balances, a 6% increase in financing balances, and a non-performing financing ratio of less than 0.2%, indicating that they are operating soundly. Zamin Bank's innovations in digital services and green finance have enabled it to remain competitive in the regional market. In 2023, Zamin Bank won the "Best Customer Service Bank in Iran" award for its excellent customer service and digital transformation. Key accolades include:

• "Best Bank for Customer Service in Iran" award 2023.

• 2022 Iran Green Finance Pioneer Award.

• 2021 "Best SME Bank in Iran" award.

With 14 years of rapid development and innovation, Iran Zamin Bank Public Company Limited has become a pioneer in the Iranian financial market. It offers a wide range of deposit and financing products, all Shariah-compliant, and meets customer needs through around 100 branches and advanced digital platforms. The digital service is centered on the "IZBank Mobile" app, which provides efficient real-time transfers, bill management, and investment functions. Technological innovations include AI customer service, open banking APIs, blockchain payments, and electronic KYC, demonstrating its forward-looking digital transformation. With its investment deposit program, SME support, green finance and a number of industry accolades, Zamin Bank continues to demonstrate strong competitiveness and influence in Iran's financial market.

Note

• specific expected profit margin and financing details may vary due to market changes, please check the official website of Zaming Bank or contact the bank directly for the latest information.

• Due to international sanctions in Iran, some services (e.g. international money transfers) may be restricted, customers are advised to check with their bank to confirm availability.