Managing Director’s Statement As one of the most reputable Iranian banks, Karafarin Bank has entered its third decade of operations. Its three main assets, namely: “dedicated and effective human resources”, “material assets derived from its transparent and reliable operations” as well as “specialised assets backed up by its knowhow and professional experiences” have enabled the Bank to earn much credibility among its customers, who are the main beneficiaries of this Bank. I have no doubt that the great family of Karafarin Bank shall continue to demonstrate strong performance during the third decade of its activities (as it has done in the past two decades) and shall further develop and enhance the quality and boost the quantity of its operations throughout all sectors. In contributing towards economic and business development and in line with Iran’s overall economic development policies, we have identified the priorities and requirements of entrepreneurs and have financed various industrial projects. And hopefully this trend shall be ongoing. Being particularly committed to our professional and social responsibilities, we, at Karafarin Bank aim to constantly earn the trust of our depositors, to support manufacturers and entrepreneurs (in line with government policies), to be more accountable to our shareholders and of course, to further serve our countrymen. Indeed, we aim to pass on our valuable and hard earnt repute and credibility to future generations. Finally, with God’s help, as in the past, we shall, by relying on the trust of all our beneficiaries continue to, demonstrate outstanding financial performance in future years. Mohammad Reza Farzin, Phd.