According to an investigation by Iran International based on leaked internal correspondence and transaction records, Iran's US-sanctioned Bank Parsian utilized its foreign-exchange subsidiary, Parsian Exchange (Sarrafi Parsian), to transfer millions of dollars abroad through multi-layered intermediary networks. The leaked documents cover the period from November 2022 to May 2023, showing how the Central Bank of Iran and other financial institutions routed international payments outside Iran.
The report identified 33 instruction letters directing the movement of UAE dirhams, Chinese yuan, and US dollars with a total value of approximately $36 million. Almost all letters were signed by Alireza Alaei, Bank Parsian's head of international affairs and chairman of Parsian Exchange, and addressed to Parsian Exchange chief executive Rasoul Salehi Oskouei. Bank Parsian directly holds 90% of Parsian Exchange, with roughly 10% owned through its investment arm, Parsian Financial Group.
In most documented cases, foreign currency did not leave Iran directly; instead, proceeds from oil, petrochemical, and other exports were held in overseas accounts. Following instructions from Bank Parsian, Parsian Exchange moved those balances to overseas bank accounts designated by Iranian importers, including carmaker Iran Khodro. The transactions appeared to originate from private companies rather than the Iranian government, the Central Bank of Iran, or sanctioned institutions.
Bank Parsian was designated by the US Department of the Treasury in October 2018 in an action targeting networks alleged to finance the Basij paramilitary force. Bank Parsian and Parsian Exchange did not respond to requests for comment from Iran International.
Sources
- Iran International · 2026-10-07
