Royal Bank

Royal International Bank

In Establishment Process

One of the essentials for coping with economic challenges and problems of the country and achieving constant and quickly progressing economic growth is the strategy of absorbing foreign capitals and financial resources and simultaneously increasing the exportation of non-oil products from among appropriate solutions to realize this objective, suitable benefiting from maximum capacities of free, industrial and economic zones can be outlined for contributing to economic development of the country by efficiency in the allocation of resources and stability in economic system.
Considering the present needs of the country and the site and positive impacts of offshore banking and fundamental capacities of such activities in absorbing foreign capitals and international financial resources, the founders and managers of this bank have selected a team with high sense of responsibility and high experiences and education in banking fields who were thinking of establishing an offshore bank as of many years ago and pursued the operations under the blessings of the God almighty and the support of Insight and Hope Government and esteemed authorities of the Secretariat of Higher Council of Free Zones and the Central Bank of the Islamic Republic of Iran and they presently follow the operations to obtain all necessary permits and licenses required for establishing the offshore bank they were thinking of as of many years ago under the title of Royal International Bank.

Objectives of the Bank

1 Innovation and evolution in banking industry and complying it with modern global banking (I.T.) in the fields of financial and banking services based on common Islamic and International banking regulations through participation and investment by using foreign currency funds
2 Providing services fully differing with those provided by domestic banks either in management procedure or wideness of services provided to customers or relation with other countries
3 Establishing wide facilities for expanded foreign investments through the recognition of assets and converting them to various capitals and attracting stagnant and wandering capitals of Iranians residing in Iran or abroad and interaction for attracting capitals from the first level banks of the world and foreign investors
4 By providing its customers with particular and international services, this bank will substitute for foreign banks in free zones of the country.
5 This bank’s branches will be established in domestic free zones, and those of foreign and neighboring countries and also free zones of Persian Gulf countries.
6 Domestic branches consist of Kish, Gheshm, Chabahar, Arvand, Anzali, and Aras.
7 Foreign branches consist of the U.A.E., Dubai (Financial International Center) , Qatar (Financial International Center), including bank, stock exchange, insurance and free zones of Malaysia, and D-8 Countries

The reasons for establishing the bank

Non existence of a bank with wide relations in international banking in free zones of the country, allowed to work in free zones all over the world in compliance with International Banking Rules
Non-conformation between growing financial and banking needs of the country and non-acceptable status of domestic banks
The country’s need for finding the best way to exit inflation depression status
The necessity for establishing offshore banks and constant activity in free zones of the country for internationalization of the country’s economy and making an evolution in banking system which is an evitable phenomenon.
Connection with financial and monetary markets of the world and global industrial and commercial circle via offshore banks established in free zones of the country with positive economic impacts
Need for creating a glance to banking in international levels and establishing such offshore banks in free zones
The existence of independent and different rules governing free zones in comparison with the main territory such as : - the Act of Supervising Financial Market - Commercial Code - Civil Code - Contracts Act - Bankruptcy Act - Arbitration and Prosecution Act - Employment Act - Persons and Properties Ownership Act - The Act of Integrated Financial Supervision System (bank-insurance-capital market)

The privileges of establishing bank in free zones

the environment, banking system and executive mechanism of offshore banks result in special privileges in comparison with the banks of the main territory.
Paving the ground for domestic and international commercial interactions and attracting foreign institutions into domestic markets and finding access to international markets
Development and revival of local economy of free zones up to their conversion to financial and economic poles of the country through entrepreneurship, industries and businesses development, exportation increase, and the development of exchanges among domestic and foreign markets
Attracting cheap capitals and foreign financing by substituting this bank for foreign investors
Attracting foreign currency capitals of Iranians residing in Iran or abroad through fixing real interests on deposits
Vast and enormous fields for investing and attracting financial resources with low costs
Easy regulations governing free zones and being allowed to enter foreign currency activities by any amount
Benefiting from long-term tax and custom duties exemptions
Increasing the fields of entrepreneurship in free zones of the country and transferring efficient and expert powers from the main territory to free zones
Paving the ground for transferring modern and day technology of the world in all fields to the country through free zones
Non-disclosure of the customers’ identities, capitals, and turnovers and safekeeping their capitals from the problems that may occur in the main territory

The Core of Economic Activities

Considering wide capacities existing in free zones of the country, this bank deals with the following economic and financial operations:
mines and industries – civil and development - foreign trade – importation, exportation and transit – oil, gas and petrochemical and downstream industries – energy and power plant, steel factory- international forwarding and transportation – insurance - activity in foreign and domestic financial and capital markets - attracting tourists - entrance into construction, housing and agriculture industries that require foreign currency - marine industries and oil platforms, fueling quays and bunkering ocean navigating tankers - investment in huge domestic projects - water desalination plants - international airports - ports industries - cultural and academic activities - sciences and research, and interaction with all persons whose activities are somehow related to current funds of foreign monies and need financing from foreign resources and their activities and businesses comply with those allowed in free zones

Financial and banking services

opening various short-term, interim and long-term foreign currency deposits, and private confidential accounts
purchase, sale and exchange of various foreign currencies
opening various type of letters of credit
transaction of precious metals, stocks and negotiables
issuing and endorsing various financial notes among foreign and domestic banks
granting financial facilities, loans and credits in foreign currencies (line of credit)
setting up correlations in baking correspondence with the banks acting in the main territory
providing services related to finance and refinance contracts (off-balance sheet)
providing insurance services including financial insurances, (export and import insurances), commercial insurances (transportation), life insurance, etc with international mechanisms that are both investment and insurance
issuing various foreign currency drafts, transfers and bonds and providing S.K.R. services, investment in mutual funds, and custody services
issuing various credit cards and deposits usable internationally to prevent from carrying money and providing low-cost and easy foreign currency services (Royal Visa Card – Royal Master Card)
managing customers’ liquidities, investing in foreign stock exchanges and composing economic package (negotiables, debentures and stock exchange)
investment, partnership and executive management in huge projects of the zone, guaranteeing the payback of the debentures and stocks of related projects
managing specialized domestic or foreign consortiums
Managing all risks, modern technologies, sciences and research, inventions and innovations and providing the services thereto
Fixing and levying suitable commissions for banking services and real interests on deposits and foreign currency credits, loans and facilities in compliance with those of foreign banks with lower percents (the details will be elaborated in various economic parts)
Various security documents issued by valid banks including letters of credit, certificate of deposit, foreign currency bonds, bank guarantee, domestic and international insurance guarantees, credit documents of valid foreign or domestic banks and the project itself
Bank’s motto: Confidence, Speed and Security

The Bank’s Capital and Permits Issued

The bank’s initial capital was financed by its shareholders in the amount required for establishing necessary bank units and they have planned for increasing the capital by any amount and they have planned for increasing this capital parallel to the progress of the bank’s operations and financing the increasable amount is possible. Consequently; the bank’s shares will be admitted and exchanged in foreign and domestic Stock Exchanges.
Related agreements will be received from free zones organizations and establishment permit of the bank will be issued by Central Bank of Iran. After compiling the bank’s articles of association, feasibility study, and operational program and obtaining and presenting all documents determined by Central Bank and introducing the members of the board of directors and registering the investment company in free zones and obtaining the agreement of free zones organizations and submitting them to Central Bank and obtaining initial permits, we are presently in the stage of obtaining final permit required for starting the bank’s job under the blessings of the God almighty.

Chabahar

Qeshm

Kish

UAE

Tehran

Anzali

Arvand

Iraq

Azerbaijan

Turkey

Cyprus

Greece

Royal International Bank Branches

Tehran Central Office

Number 442, Opposite The Tehran Grand Hotel, Motahari Street

P.O.Box: 1595844411

Email Address: info@ribo.ir

Domestic branches

Kish, Gheshm, Chabahar, Arvand, Anzali, and Aras

Foreign branches

U.A.E, Qatar, Greece, Cyprus, Turkey, Azerbaijan, Iraq