Hamid Tehranfar Appointed as Managing Director of Karafarin Bank

Following the approval of the Central Bank of the Islamic Republic of Iran, Hamid Tehranfar was appointed as the managing director of Karafarin Bank. The farewell ceremony of Attollah Ayatollahi the previous managing director and the referral ceremony of Hamid Tehranfar as the new managing director of

Karafarin Bank was held today (Tuesday 31 July), after which Tehranfar officially took over. In these ceremonies several board members and senior managers of the Bank took part.

Tehranfar has an outstanding thirty-year track record in the banking industry. Among his previous positions in this industry are: regulatory deputy of the CBI and vice - managing director of several banks. Prior to that, he served as the advisor to the governor of the CBI, chairman and member of the audit committee of ECO Bank for Trade & Development - Turkey, chairman of Melli Bank PLC – UK.

Ayatollahi was pleased to hand over office to the new managing director and stated: “This is a great day for all Karafarin personnel as Mr. Tehranfar is now among the family of this bank…Accepting the management and responsibility of a financial institution in such a harsh economic climate is particularly difficult. However, this task can be successfully carried out if effective management is applied. I am confident that as Mr. Tehranfar is a well credited banking manager, and that he shall successfully overcome the harsh economic climate.” He also referred to Tehranfar’s exceptional past history stating: The resume of Mr. Tehranfar is very clear and I am confident that he shall be successful and effective in Karafarin Bank.” In his concluding remarks, he also thanked Mr. Azmi, the previous sarparast as well as all employees of the Bank and expressed his hope that Mr. Azmi continue to take steps towards the Bank’s excellence and success.

Tehranfar also suggested that he was delighted to joint Karafarin Bank and stated that he was confident that this bank shall continue to be among Iran’s most celebrated banks, in spite of the complex and difficult economic times. This could be achieved with the support and empathy of the Bank’s employees at all levels, he added. “In general, banking principles and regulations are becoming increasingly tough and more demanding throughout the globe. Thus, the business of banking and management of small and big firms has become a more difficult task.” he continued. Tehranfar also claimed that Karafarin Bank is a reputable and well credited bank and stated: “Fortunately, this bank is a credible and transparent bank in terms of compliance with laws, even in the current challenging economic times. I have no doubt that managing enterprises under current conditions is a particularly difficult task, since one must not only sustain the current position, but also to formulate sound and rational policies so that the Bank continues to succeed.” He also added: “ Fortunately, in spite of domestic and overseas difficulties which affect the banks, Karafarin Bank is still in control of the situation and thanks to the sound policies from which is was founded, it continues to progress and succeed…God willing, we shall continue on this path with the aid of all our employees.”

In his concluding remarks the new managing director stated that it is necessary to make structural adjustments at all levels including Karafarin Bank. “The world today is constantly changing. Thus, in order to progress, it is necessary to be aware of these changes. I suggest that we place this on our agenda since continuing with conventional methods and failure to adapt to changes shall slow down the organization and lead to a fiasco.”

In this ceremony Masoud Azmi, vice managing director stated that he is pleased to see Mr. Tehranfar as managing director and said: “Thanks to his banking knowledge and awareness of international laws and regulations, Karafarin Bank shall grow and develop and his presence is valuable and shall bring a positive impact on the Bank.” Dr. Baharvandi, a board member also welcomed Mr. Tehranfar as the new managing director and stated: “The board members shall support the new managing director in order to ensure of progress and development.”