Mellat Investment Bank (MIB)

What Mellat Investment Bank (MIB) does

Mellat Investment Bank (MIB, ticker: تملت) is the investment banking subsidiary of Bank Mellat, one of Iran's largest commercial banks, founded in 2010/2011 and listed on the Tehran Stock Exchange since 2019. MIB operates as a full-service capital markets intermediary offering rial-denominated debt underwriting (Murabaha, Ijara, Buyer's Credit, Sefl Moavene), foreign currency (euro-denominated) Murabaha bond issuance, equity IPO advisory, market making for gold deposit certificates and fixed-income securities, asset management via a family of investment funds and ETFs, discretionary portfolio management, financial advisory, and equity crowdfunding through its Mellat Crowd platform. The firm manages 152,400+ billion rials in AUM across six primary funds (Ooj Mellat, Andokhteh Mellat, Atieh Mellat ETF, Ofogh Mellat ETF, Khazaneh Mellat ETF, Zarrin Mellat Gold Fund) plus a dedicated market-making fund.

The business is anchored by the parent bank's distribution infrastructure — Bank Mellat's 1,100+ physical branches and digital channels (Dima super-app, MegaBank, Bale, FaraBourse integration) — which serves as the primary retail acquisition channel for MIB's investment products. MIB's proprietary technology stack includes the Farasood.ir online investment portal (subscription/redemption, open banking deposits, reinvestment automation), the Mellat Crowd crowdfunding platform (licensed by Iran Fara Bourse), and CRM/web services infrastructure connecting to Tehran Stock Exchange, Fara Bourse, and the Iran Mercantile Exchange. MIB is the sole active market maker for gold deposit certificates in Iran and operates the second-largest market-making fund by AUM.

Revenue is generated through transaction fees on debt underwriting (496,000+ billion rials cumulative rial issuance plus 320+ million euros of foreign currency Murabaha), asset management fees across the fund family, market-making spread, advisory fees (20+ IPO listings, 120+ project valuations), crowdfunding platform fees, and proprietary equity investment returns. Customer segments span large industrial corporates (petrochemicals, steel, automotive, oil & gas, mining), retail investors across Iran, institutional investors (insurers, banks, funds), SMEs/entrepreneurs via Mellat Crowd, and government/municipal issuers. With 78,000 billion rials registered capital (largest among Iranian investment banks), 12% market share of bond issuance by volume, and 6-month net profit of 10,000+ billion rials (+44% YoY) on 16.6 trillion rials in operating revenue (+50% YoY), MIB occupies the #2 investment bank position by market capitalization and the #1 by debt underwriting volume in Iran.

Name

Mellat Investment Bank (MIB)

Legal name

شرکت تامین سرمایه بانک ملت (سهامی عام)

Website

https://mellatib.ir

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Mellat Investment Bank (MIB) is the investment banking arm of Bank Mellat in Iran, providing rial and euro-denominated debt underwriting, multi-fund asset management, market making, and equity crowdfunding services to large corporates, retail investors, and SMEs across Iran.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Treasury, Cash Management & Liquidity (SME) (FSAGAJAG), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

Keywords

• Investment banking services
• Asset management
• Debt securities underwriting
• Crowdfunding platform
• Financial advisory

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Debt Issuance Advisory & Underwriting (مشاوره عرضه و تعهد پذیره‌نویسی): MIB earns fees for acting as issuance advisor and underwriter for corporate debt instruments (Murabaha, Ijara, etc.). Revenue is transaction-based, earned at issuance. This is the core revenue driver, with rial debt issuances totaling over 496,000 billion rials and foreign currency issuances of 320+ million euros facilitated.
2. Asset Management Fees (کارمزد مدیریت صندوق‌ها): Management fees from operating multiple investment funds: fixed-income funds (Ooj Mellat, Andokhteh Mellat, Atiyeh Mellat), gold fund (Zarrin Mellat), equity ETF (Ofogh Mellat), government bonds fund (Khazaneh Mellat), and the dedicated market-making fund. NAV of funds under management reached 152,000+ billion rials.
3. Market Making Revenue (درآمد بازارگردانی): Revenue from providing liquidity and market making services for securities including gold deposit certificates, fixed-income bonds, and equities. MIB is the sole active market maker for gold deposit certificates in Iran and operates the second-largest market-making fund in the country.
4. Financial Advisory Services (خدمات مشاوره مالی): Advisory services including IPO listing advisory for more than 20 companies, project valuation for 120+ projects across industries, financial analysis, and investment banking advisory.
5. Crowdfunding Platform Fees (کارمزد پلتفرم تامین مالی جمعی): Platform fee revenue from the Mellat Crowd crowdfunding platform, enabling project financing between entrepreneurs/SMEs and retail investors. MIB holds a formal license from Iran Fara Bourse's 94th evaluation session.
6. Equity Investment Returns (سود سرمایه‌گذاری): Investment returns from MIB's proprietary portfolio of equity stakes and securities, contributing to overall profitability. The company reported over 10,000 billion rials in net profit for the 6-month period ending Tir 1404.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Mellat Investment Bank (MIB) operates as the investment banking arm of Bank Mellat in Iran's capital markets, providing rial-denominated and foreign currency (euro) debt underwriting and issuance advisory, asset management through multiple investment funds and ETFs, dedicated market making for securities including gold deposit certificates, equity crowdfunding via Mellat Crowd, discretionary portfolio management, and corporate financial advisory services. The firm distributes its products through Bank Mellat's 1,100+ branch network, the Farasood.ir digital investment portal, and partner brokerages.

Product overview

Mellat Investment Bank (MIB / تملت) operates as a full-service capital market institution offering a platform of integrated financial services. Its core products span three financing services — Rial-denominated debt financing, foreign currency (euro) murabaha bond financing, and equity crowdfunding via Mellat Crowd — alongside an asset management division that operates multiple named investment funds and ETFs (Owj Mellat, Andookhteh Mellat, Atieh Mellat ETF, Ofoqh Mellat ETF, Zarrin Gold Fund, Khazaneh Mellat ETF) and a market-making desk. These are accessed through the Farasood Mellat online portal (farasood.ir), which integrates with Bank Mellat's open banking infrastructure (Dima), Mega Bank app, and over 1,100 physical branches. MIB also provides discretionary portfolio management, financial advisory, and alternative investment services.

Differentiator

Problem solved

Functional benefit

Brands

• فراسود ملت (Farasood Mellat): Comprehensive digital investment platform for investing in fixed income funds (Ooj Mellat, Andukhteh Mellat, Aatiyeh Mellat)
• ملت کراد (Mellat Crowd)
• دیما (Dima)

Products and services

• Rial-Based Debt Financing Services (تامین مالی ریالی) Issuance advisory, underwriting, and market making for rial-denominated debt securities (Murabaha, Ijara, Buyer's Credit, Sefl Moavene) for large Iranian corporates, state enterprises, and municipalities across petrochemicals, steel, automotive, oil & gas, mining, and infrastructure sectors.
• Foreign Currency Financing Services (تامین مالی ارزی) Euro-denominated Murabaha bond issuance advisory and underwriting for priority export-oriented industrial projects, the first of their kind in Iran's capital market, with Bank Mellat as guarantor.
• Mellat Crowd Crowdfunding Platform (ملت کراد) Crowdfunding platform licensed by Iran Fara Bourse enabling retail investors and SMEs to participate in collective project financing with Bank Mellat principal guarantee and defined return periods (e.g., 43% annual predicted return, 12-month term, quarterly profit payments).
• Owj Mellat Fixed-Income Fund (صندوق اوج ملت) Fixed-income investment fund with predicted profit, monthly dividends with reinvestment option, same-day redemption (4x daily settlement), Bank Mellat liquidity guarantee, and tax-exempt returns. SEO registration number 11075.
• Andookhteh Mellat Fixed-Income Fund (صندوق اندوخته ملت) Fixed-income investment fund with predicted profit paying monthly dividends, Bank Mellat liquidity guarantee, no break rate, tax-exempt returns.
• Atieh Mellat Fixed-Income ETF (صندوق آتیه ملت) Fixed-income exchange-traded fund tradable on the Tehran Stock Exchange (ticker: Atieh Mellat); ranked first among fixed-income funds by the Iran Fund Rating System (1399). Market maker: Mellat Dedicated Market Making Fund.
• Ofoq Mellat Equity ETF (صندوق افق ملت) Equity exchange-traded fund traded on the Tehran Stock Exchange (ticker: Ofoq Mellat) investing primarily in metals, petroleum products, banking, and financial sectors.
• Khazaneh Mellat Government Bonds ETF (صندوق خزانه ملت) Government bonds ETF (fixed-income, government securities only, ETF structure) — the first government bonds ETF in Iran's banking network, dual-regulated by the Central Bank of Iran and SEO. Ticker: Khazaneh Mellat.
• Zarrin Mellat Gold Fund (صندوق طلای زرین ملت) Gold-backed securities fund with issuance/redemption structure, the first gold fund with such structure in Iran's banking network and capital market, with Bank Mellat as liquidity guarantor.
• Discretionary Portfolio Management (سبدگردانی اختصاصی) Professional portfolio management service where MIB financial experts form and manage personalized portfolios based on client risk preferences, investment objectives, time horizon, and budget for institutional and high-net-worth clients.
• Dedicated Market Making Services (بازارگردانی اختصاصی ملت) Market making services for equities, fixed-income securities, and gold deposit certificates. MIB operates the second-largest market-making fund in Iran and is the sole active market maker for gold deposit certificates.
• Financial Advisory Services (خدمات مالی و مشاوره) Financial advisory services including IPO listing advisory (20+ companies), project valuation (120+ projects), financial analysis, M&A advisory, and financial restructuring for Iranian corporations.
• Alternative Investment Services (سرمایه‌گذاری جایگزین) Alternative investment services including gold coin deposit receipt market making (sole market maker in Iran), commodity investments, and other non-traditional asset class offerings.

Quantifiable outcome

• 152,400 billion rials NAV of investment funds under management
• +8 more outcomes

Named customers21 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered core, minor and major.

• Central Bank of Iran (بانک مرکزی)coreOthers · 24 May 1403The Central Bank of Iran authorized the establishment of Khazaneh Mellat ETF — the first government bonds ETF to receive dual authorization from both the Central Bank and the Securities and Exchange Organization. This regulatory partnership enabled the unique bridge between the money market and capital market.
• Hesabgar Hooshmand Momayez Audit Institute (موسسه حسابرسی هوشیار ممیز)minorOthersServes as the trustee (متولی) for multiple MIB investment funds including Zarrin Mellat Gold ETF, providing independent oversight and investor protection functions as required by Iranian capital market regulations.
• Iranian Analysing Farabi Investment Consulting Company (شرکت مشاور سرمایه‌گذاری ایرانیان تحلیل فارابی)minorOthersServes as the trustee (متولی) for Andokhteh Mellat and Atiyeh Mellat funds, providing independent fund oversight per Iranian securities regulations.
• Saham Ashena Investment Consulting Company (شرکت مشاور سرمایه‌گذاری سهم آشنا)minorOthersServes as the trustee (متولی) for Ooj Mellat investment fund, providing independent oversight per Iranian capital market regulations.
• Mellat Brokerage Company (کارگزاری بانک ملت)majorChannel Partner/ Reseller/ DistributorMellat Brokerage distributes MIB's ETF products and provides brokerage services for gold deposit certificates. Also serves as the broker for Atiyeh Mellat ETF market making operations. Key distribution channel for MIB's exchange-traded products.
• Fara Bourse (فرابورس ایران)coreOthersIran Fara Bourse (Iranian Over-the-Counter Stock Exchange) granted MIB the formal approval (موافقت اصولی) for crowdfunding platform operation in its 94th evaluation session (1403/05/27). Fara Bourse also lists Khazaneh Mellat ETF and provides regulatory oversight for MIB's crowdfunding activities.

Scale indicators11 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Pasargad Bank Investment Company: Pasargad Bank-affiliated investment company operating in debt underwriting and asset management in Iran. Competes with MIB in fixed-income fund distribution via the parent bank's branch network and in the corporate Murabaha/Ijara underwriting league tables.
• Iran Investment Company: Established Iranian investment company (DIS) listed on the Tehran Stock Exchange with a long-running franchise in asset management and equity portfolio holdings. Competes with MIB for AUM in managed funds and serves as a benchmark for industry NAV share, which MIB grew from 3.9% to 9.1% against.
• Karafarin Bank Investment Company: Investment arm of Karafarin Bank, active in Iranian capital markets with debt issuance and fund management offerings. Competes with MIB for both retail fund subscriptions through parent branches and corporate debt advisory mandates.
• Tejarat Bank Investment Company: Tejarat Bank-affiliated investment bank (TCAP) listed on the Tehran Stock Exchange. Like MIB, it leverages a large parent commercial bank's distribution to distribute fixed-income and equity funds, making it a direct rival for retail fund subscriptions and corporate debt mandates.
• Tose'e Taavon Bank Investment Company: One of Iran's largest listed investment banks (TSHP), affiliated with Tose'e Taavon Bank. Operates the same business mix of debt underwriting, asset management, and market making on the Tehran Stock Exchange, making it MIB's closest direct competitor for both corporate issuance mandates and retail fund AUM.
• Eghtesad Novin Bank Investment Company: Investment arm of Eghtesad Novin Bank, offering capital markets services in Iran. Direct peer to MIB in bank-affiliated debt underwriting and managed fund distribution.
• Saman Bank Investment Company: Saman Bank-affiliated investment entity offering fund management and capital markets services in Iran. Direct competitor to MIB in the bank-affiliated investment bank segment for both retail and institutional clients.
• Saderat Bank Investment Company: Saderat Bank-affiliated investment entity in Iran, participating in debt underwriting and asset management. Mirrors MIB's bank-affiliated business model with distribution leveraged through the parent bank's branch network.
• Sarmayeh Bank Investment Company: Sarmayeh Bank-affiliated investment company active in Iranian debt underwriting and asset management. Competes with MIB for Murabaha/Ijara issuance mandates and ETF AUM on the Tehran Stock Exchange.

Broad incumbents

• Bank Mellat: MIB's controlling parent and one of Iran's largest commercial banks. While not a direct investment-banking competitor, Bank Mellat is the strategic incumbent that defines MIB's distribution moat (1,100+ branches), acts as liquidity guarantor for all MIB funds, and shapes the regulatory positioning that differentiates MIB from peer investment banks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeaparat.com/mellatib
• Instagraminstagram.com/mellat_ib
• LinkedInlinkedin.com/company/mellat-investment-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mellat Investment Bank (MIB)