Iran-founded HonorBank in Belarus sold for 5 million euros
Azerbaijan, Baku, Jan. 22 /Trend S.Isayev, T. Jafarov/
Iran-founded "HonorBank" has been sold off-exchange in Belarus for 5,1 million Euros, Belta reported.
One hundred percent of the bank's collective investment fund was sold, 15 million stocks in total.
The stocks were sold 25,9 percent above their nominal price.
HonorBank was established in October of 2009, with 100 percent of foreign funds. The founders of the bank were Iranian Bank Refah Kargaran, Bank Saderat Iran, Bank Toseeh Saderat Iran/Export Development Bank of Iran.
The bank specialized in investment accompanied by Iranian business in Belarus and interbank transactions.
In 2010, the U.S. Treasury Department imposed sanctions on the bank because of Iran's nuclear program. The founders of the bank were suspected in financing the nuclear program.