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Banca UBAE SpA

Banca UBAE SpA

Industry: 
Banking
Country: 
Italy
Contact Information: 

Sources: 

UBAE serves Bank Markazi, Iran’s central bank, which is sanctioned by the U.S. government for its involvement in the Iranian regime’s human rights violation, aggression, and illicit pursuit of nuclear weapons. (Tert, “Iran files lawsuit against US to recover 2bn assets,” 6/16/2016).

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In January 2016, UBAE participated in a meeting with Iranian banks in which Iran Central Bank Governor Valiollah Seif announced Iran’s intentions to “revitalize ties between Iranian and European financial and credit institutions.” During Seif’s visit in Italy he “held meetings with officials from Italy’s Banca UBAE… [to] exchange views on correspondent banking relations and collaboration in relevant fields.” (Financial Tribune, “Italian Banks Get Ready for New Age,” 1/28/2016).

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UBAE lists Ali R. Feizollahi as a local consultant in Tehran, Iran. (UBAE website, “Network,”).

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Noted for conducting business with Iranian banks. (Avi Jorisch, "Iran's dirty banking," 2010)

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Banca UBAE maintains a relationship with a local consultant in Tehran.  According to the consultant's 2011 report, Banca UBAE has "an excellent business relationship with the banking system and effective and professional contacts at the operational levels."  He also applauded Banca UBAE's "commendable initiatives and efforts in trying to find solutions for trade finance problems between Italy and Iran." (2011 Cached Version of Company Website)

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