Bank Melli Iran (BMI; , Bânk-e Melli-ye Irân) is the first national and commercial retail bank of Iran. It is considered as the largest Iranian company in terms of annual income with a revenue of 364 657 billion Rials in 2016. It is the largest bank in the Islamic world and in the Middle East. By the end of 2016, BMI had a net asset of $76.6 billion and a vast network of 3.328 banking branches; so it is known as the largest Iranian bank based on the amount of assets. The brand of BMI was recognized as one of the 100 top Iranian brands in 10th National Iranian Heroes Championship in 2013. The National Bank has 3328 active branches inside, 14 active branches and 4 sub-stations abroad and it has 180 booths. The first managing director of BMI was from Germany. Also, the first foreign branch of BMI was opened in Hamburg, Germany in 1948. History The formation of a new bank was first proposed by Haj Mohammad Hassan Amin Dar al-Zarb known as Amināl-Zarb (one of the great Tehran stockholders) in 1879 ten years before the creation of the King Bank, to Naser-al-Din Shah Qajar. But this proposal was not accepted with the interference of the countries that dominated Iran and their agents. Instead, the King Bank was established in Iran. After the establishment of the constitution, when the government allowed the National Assembly to allow external borrowing, the national feelings were excited that had been hurt by past loans and the behavior of foreign banks. So, the deputies demanded the establishment of the National Bank in order to curtail the political and economic influence of said banks and restore the treasury finances while opposing external borrowing. A group of traders and merchants committed to participate in the bank. Thus, it was published with a statement that showed the general feelings and popular interest in establishing a national credit bank in Iran in December 1906. On 23 November 1906, Mirza Abolqasem Nasser al-Malik, the Minister of Finance of the time of Muzaffar al-Din Shah, was present in the National Assembly. He announced the financial crisis of the country. He suggested that the government get a loan from European countries to deal with this problem, but the deputies dissented strongly. After that, on 9 December, the deputies agreed to establish a bank that could benefit the country and work