CEO of the bank, Mohammad Hossein Kazemi Namin, purchased the first Personal Computer for the bank. He then hired a group of IT professionals and re-established the data processing division. A year later, he made a significant investment and purchased an IBM 4381 Mainframe computer from the United Kingdom. Since then, the bank's IT division has purchased, developed and implemented several small and large computers and software packages. However, despite the efforts, its IT infrastructure and systems are well behind modern western and regional banks. Lack of skilled IT resources, unavailability of high speed data lines, insufficient investment, poor IT leadership and foreign sanctions have contributed to the slow progress of data processing in the Iranian banks and Bank Refah hasn't been an exception. In the spring of 2007, Bank Refah opened its first unmanned branch in Tehran with two ATM's and four information kiosks. This bank branch is located at Galoobandak in the vicinity of Tehran's Grand Bazaar. Bank Refah has installed over 500 Automated Teller Machines (ATM) across its branches in Tehran and other cities. The ATM network is connected to the Iranian Shetab network allowing customers to withdraw cash from any ATM in the country. See also Banking and Insurance in Iran Central Bank of Iran Privatization in Iran Islamic banking References External links Bank Refah Official website Goliath Knowledge on Demand Web site The Banker ArchNet Iranian Oral History Project, Harvard University Iran's Ministry of Welfare and Social Affairs Web site Banks of Iran Banks established in 1960 Iranian brands Iranian companies established in 1960