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Bank Mehr Iran was inaugurated on December 13, 2007, with an initial capital of 15 trillion rials, through the joint participation of state-owned banks. The bank began its operations by expanding and distributing its branches across the country.

With the official license issued by the Central Bank of the Islamic Republic of Iran on August 28, 2008, and based on its defined development plans, Bank Mehr Iran started providing Qarz-al-Hasaneh (interest-free) loans and offering services related to current accounts and electronic banking.

Initially, the bank operated through 2,000 banking units, including 300 branches transferred from shareholder banks and 1,700 service counters located within shareholder bank branches. Following the establishment of its independent organizational structure and the qualitative development of its branches, all units of the bank began operating autonomously.
Today, Bank Qarz-al-Hasaneh Mehr Iran functions with more than 527 active online branches across the country.

The collaboration between Toranj Production and Bank Qarz-al-Hasaneh Mehr Iran began in 2018, focusing on branding, advertising campaigns, and public communications that emphasized the bank’s core values of trust, transparency, and social responsibility.