Police-Owned Bank Wraps Up Merger

Ghavamin Bank, affiliated to Iran's Law Enforcement Forces (LEF), has officially merged with the state-owned Bank Sepah to become the fourth bank to complete the merging process. 
CEO of Bank Sepah Mohammad Kazem Choqazardi made the announcement Saturday in a press release published on the bank's website. 
Before finalizing the merging process Ghavamin Bank, owned by the police forces or LEF, held an extraordinary general assembly Wednesday attended by the majority of shareholders.