Bank Melli Iran is the first national Iranian bank. The bank was established in 1927 by the order of the Majlis (the Iranian Parliament) and since then has consistently been one of the most influential Iranian banks.
In 1931 the Iranian Majlis authorized the bank to print and distribute the Iranian currency Rial. BMI acted as the central bank of Iran until Bank Markazi was established in 1960, after which all of its central banking responsibilities were transferred to the new central bank. Since 1933, BMI has grown to become a large retail bank with several domestic and international branches. BMI opened its first foreign branch in Hamburg, Germany, in 1965.[3] BMI is now the largest commercial retail bank in Iran and in the Middle Eastwith over 3,300 branches and 43,000 employees. Bank Melli Iran is owned and operated by the government of Iran