Bank Shahr was established in 2009 by the municipalities of Tehran and other major cities. Supported by capital of IRR 1600 billion, the organization was initially authorized by the Central Bank of Iran (CBI) to operate as a Financial and Credit Institution. Bank Shahr was awarded a full banking permit by the CBI in 2010.
The aim of the founding shareholders was to provide modern, efficient banking services to private individuals and businesses, and to deliver essential funding for development and infrastructure projects across the country.
Bank Shahr has an impressive track-record of supporting many municipalities across Iran, providing liquidity for a diverse range of projects. By working in partnership with the senior directors of Tehran and other large cities, we have played a key role in enhancing their operational capabilities.
Adoora’s new strategy to pursue large scale international projects has landed it with a major contract that would otherwise have been executed by foreign companies. One example of this is the installation of automatic doors for portable buildings used by Shahr Bank of Iran throughout the country. Portable buildings require an extensive network of after-sale services nationwide and although there are many companies producing and maintaining automatic doors in Iran, it is Adoora that can provide such comprehensive services in different and remote areas around the country. Adoora has branches in all provinces throughout the country providing the company with the unique ability to distribute and maintain its products.