“Mellat Bank” Closed Joint-stock Company was established
in May 1992 based on joint declaration about “Friendship
and Cooperation” between the Republic of Armenia and Islamic Republic of Iran, according
to the license agreement between the Central Bank of the RA and Iranian “Mellat” state bank
as a branch of the “Mellat” bank of IRI in Yerevan. The branch commenced its operations in
1995 in accordance with License H-OM-1/4issued by the Central Bank of the RA on 10 January
1995.