History
Arian Electronic Bank (Public Joint Stock) Pursuant to Article 98 of the Law on the Third Economic, Social and Cultural Development Plan of the Islamic Republic of Iran, approved on April 11, 2000, and within the framework of the Monetary and Banking Law of 1351, the Law on Interest-Free Banking Operations The Law on the Establishment of Non-Governmental Banks, approved by the 944th session of the Monetary and Credit Council on 20/09/1379, shall be formed in accordance with the regulations of the Central Bank of the Islamic Republic of Iran and the Commercial Code. Also, according to the license No. 288318/89 dated 12/24/1389 issued by the Central Bank of the Islamic Republic of Iran on 10/01/2011 under number 399331 and national ID 10320504669 with the Registry of Companies and Non-Commercial Institutions of Tehran and on 17/09 / 1389 was registered with the Stock Exchange and Securities Organization. The bank’s shares were listed on the OTC stock exchange in Tehran on 01/24/1390 and have been included in the OTC price list since 01/30/2011. The Central Bank of the Islamic Republic of Iran has announced in a statement on its website on 1/17/2011 that the license to establish Arian Electronic Bank has been revoked by the 138th session of the Monetary and Credit Council on 12/16/2011. On 11/07/2013, the capital funds and on account of the increase in the bank’s capital have been returned.

Based on the license of the Central Bank No. 199582 and dated 06/07/1392 and also the license of the Stock Exchange Organization No. 238575/121 dated 10/07/1392 on agreeing to change the use of the company, the Extraordinary General Assembly dated 28/07/28 1392 The following decisions were made: The name of the company was changed from Arian Electronic Bank to Arian Economic Development and the company’s articles of association were approved in accordance with the articles of association of the Exchange Organization in 56 articles and 11 notes and replaced the previous articles of association.

Company activities
Undertaking all authorized administrative, service, management, commercial, marketing and domestic and foreign trade operations directly and indirectly, investing in the establishment of commercial companies and non-commercial institutions and partnering with Iranian and non-Iranian natural and legal persons, importing and exporting all kinds of goods Authorized trade, industrial and raw materials, establishment of branches and agencies inside and outside the country, establishment and management of companies or industrial factories, service units, contracting and construction, participation in all industrial, construction and production projects with all natural persons and Domestic and foreign law, purchasing shares of commercial, service, production and industrial units, obtaining representation of domestic and foreign companies and participating with them in various fields and any kind of authorized and related activities and with the subject of the company and sub-topics of buying and selling each Types of shares, participation bonds, securities, including listed on the stock exchange, etc., and the use of financial and credit facilities of banks and credit institutions and other natural and legal persons.

Company from the perspective of the stock exchange
The company was listed on the Tehran Stock Exchange on 12/20/1392 in the Investment Industry Group with the symbol “Varin” and its shares were traded for the first time on 12/24/1392 at a price of 1,500 Rials. The company’s stock is currently listed as a “yellow OTC market”.