Announcement by Bank Melli Iran
Bank Melli Iran("BMI"), the largest public financial institution of the Islamic Republic of Iran, has continuously given the transparency of its operations priority as a centerpiece of its policy and practice and always remained stringently complaint with the regulatory requirements in this home country as well as in foreign countries where it has become widely known and respected worldwide as a law abiding financial institution, without having previously been the target of allegations remotely similar to those recently announced by the US Treasury.
The Us Treasury's announcement of 25 October 2007 failing cite or provide any evidence of the allegations leveled against BMI. By failing to provide any evidence the Us Treasury has unjustly denied BMI the basic and natural right to defend itself against serious allegations of this nature and strongly supports our contention that no such evidence in fact exists. BMI wholly refutes the US Treasury allegations and categorically denies that it is or has been involved in any "deceptive banking practices".
In addition to being contradictory in parts and without any corroborative evidence, it is apparent that the allegations of the US Treasury are politically motivated to damage the hard earned reputation of BMI and may have a destabilizing impact on financial as well as other markets and the world economy.
BMI will be pleased to answer any ambiguities or answer any questions which may remain be raised by its counterparties regarding any transactions initiated by it".