Bank Melli Iran (BMI) UAE Review
Iran’s Oldest National Bank Operating in the UAE Since 1969
Editor’s Verdict for BMI UAE
Bank Melli Iran (BMI) is one of the oldest foreign banks in the UAE, with operations dating back to 1969 — its first branch opened on 1 January 1970, inaugurated by the late His Highness Sheikh Rashid Al Maktoum. Founded in Tehran in 1928, BMI was Iran’s first national bank and served as the country’s central bank until 1960. Today, the UAE regional network consists of 7 full-service branches and 1 pay-office across six emirates, overseen by the Regional Office on Baniyas Street in Deira, Dubai. BMI’s strength lies in trade finance and relationship banking for the Iranian diaspora and businesses involved in Iran–UAE commerce.
✓ Best For
- Iranian nationals and expats in the UAE who need banking services with strong ties to Iran’s financial infrastructure
- Traders and businesses involved in Iran–UAE commerce requiring trade finance products such as Letters of Credit and Letters of Guarantee
- Customers seeking a bank with physical branch presence across multiple emirates, including Ras Al Khaimah and Fujairah
- Individuals looking for fixed deposit accounts in AED with a traditional, relationship-based banking approach
✗ Not Ideal For
- Customers who need extensive digital banking, mobile apps, or fintech-style features — BMI’s digital offering is basic
- Expats from non-Iranian backgrounds seeking credit cards, reward programs, or lifestyle banking perks
- Businesses requiring seamless international SWIFT transfers to Western countries — sanctions-related complications may cause delays
- Those looking for a wide ATM or branch network — with only 7 branches, coverage is significantly smaller than major UAE retail banks
Quick Facts
| Bank Type | Commercial / Retail / Trade Finance |
|---|---|
| Founded | 1928 in Tehran, Iran (UAE operations since 1969) |
| Headquarters (Global) | Ferdowsi Street, Tehran, Iran |
| Regional Office (UAE) | Bank Melli Iran Bldg, Baniyas Street, Deira, Dubai, P.O. Box 1894 |
| Branch Network | 7 branches + 1 pay-office across 6 emirates |
| ATM Network | 11 ATMs: at all 7 branches plus Iranian Consulate, Iranian Hospital, Iranian Club and Safa Polyclinic in Dubai |
| Mobile App | No dedicated mobile app for UAE operations |
| Online Banking | BMI Online Banking |
| Languages Supported | English, Arabic, Farsi |
| SWIFT/BIC Code | MELIAEAD (All BMI Swift Codes) |
| Service Hours | Mon–Thu: 08:00–14:00 | Fri–Sat: 08:00–12:00 | Sun: Closed |
📄 Schedule of Fees
📍 Branch Locator
Bank Melli Iran Pros & Cons
✓ Pros
- Long-established UAE presence
Over 55 years of continuous operations in the UAE since 1969, with deep-rooted relationships with regulators and trade communities - Multi-emirate branch coverage
Unlike many foreign banks limited to Dubai and Abu Dhabi, BMI maintains branches across six emirates — Dubai, Abu Dhabi, Al Ain, Sharjah, Fujairah, and Ras Al Khaimah - Trade finance expertise
Core strength in Letters of Credit, Letters of Guarantee, Trust Receipts, and Advances Against Export LCs — essential for Iran–UAE and regional cross-border commerce - UAE Central Bank integration
Fully supports Aani Instant Payment, Wage Protection System (WPS), and Funds Transfer System (FTS), ensuring compatibility with modern UAE payment infrastructure - No account opening fees
Account opening is free of charge across all account types, with competitive minimum balance requirements starting at AED 500 for savings accounts
✗ Cons
- Limited digital banking
No dedicated mobile app for UAE operations; online banking portal provides only basic functionality for balance checks and transfers - Small branch and ATM network
Only 7 branches with ATMs limited to those locations — far less convenient than banks with hundreds of branches and ATMs - Sanctions-related complexities
Subject to U.S. (OFAC) and EU sanctions; international wire transfers — particularly in USD or through Western correspondent banks — may face restrictions or delays - Narrow product range
No credit cards, reward programs, mortgage products, or lifestyle banking features; product suite focuses on core deposit accounts, loans, and trade finance - Limited customer service channels
No centralized call center or 24/7 helpline; support is branch-based during working hours only (Mon–Thu 08:00–14:00, Fri–Sat 08:00–12:00)
BMI UAE Products & Services
Personal Savings Account
For Individuals
Who it’s for: UAE residents looking for a straightforward savings account with a low minimum balance threshold.
BMI’s Personal Savings Account requires a minimum credit balance of AED 500 — one of the lowest among banks in the UAE. Salary account holders are exempt from even this requirement. The account provides a debit card with ATM access at all 7 BMI branch locations, and full access to online banking for balance checks, transfers, and statement downloads.
The account suits customers who prefer traditional relationship banking over digital-first experiences. Interest rates on savings are determined by the bank and may vary — contact your branch for current rates.
Fixed Deposit Account (AED)
Best for Returns
BMI offers Fixed Deposit Accounts in local currency (AED) for customers seeking guaranteed returns on their savings. Fixed deposits can also be used as collateral to secure guarantees and loan facilities at the bank.
When a guarantee is fully secured by a fixed deposit, the applicable charge is 1.05% of the guarantee amount per annum, provided the FD interest does not exceed 50% of the applicable rate. This makes fixed deposits a practical tool for businesses that regularly require Letters of Guarantee for trade operations.
Trade Finance Services
Core Strength
Who it’s for: Businesses engaged in cross-border trade, particularly along Iran–UAE and regional trade corridors.
Trade finance is BMI’s primary commercial differentiator in the UAE. The bank offers a full suite of products including Letters of Credit (import and export), Letters of Guarantee, Trust Receipts, and Advances Against Export LCs. These services are backed by decades of experience in facilitating trade between Iran, the Gulf, and broader regional markets.
BMI’s trade finance team operates from the Regional Office in Dubai, with support available through all 7 branches. Commercial loans and overdraft facilities are also available to complement trade finance operations.
Bank Melli Iran Key Fees & Charges
Based on BMI’s published Schedule of Service Charges for Individual Customers (effective 01.01.2023):
Digital Experience
BMI Online Banking
BMI’s internet banking platform is accessible at bmi.ae/inet and provides 24-hour access to accounts for basic banking operations.
What works: Viewing account balances, reviewing transaction history, initiating domestic fund transfers, and downloading statements are all functional. The platform supports the essential banking operations required for day-to-day account management. BMI also supports Aani Instant Payment, SMS Banking, and Telephone Banking as additional digital channels.
What’s missing: There is no dedicated mobile banking app for BMI’s UAE operations. The web portal interface is dated and lacks modern features like biometric login, spend analytics, or in-app customer support. Complex transactions — including trade finance operations, loan applications, and account modifications — require in-branch visits during working hours.
Available Digital Services
BMI supports six digital service channels: Telephone Banking, Internet Banking (web portal), Aani Instant Payment (UAE Central Bank’s instant payment system), SMS Banking, Wage Protection System (WPS) for salary transfers, and Funds Transfer System (FTS). While these cover the regulatory requirements, the overall digital experience lags significantly behind major UAE banks.
Bank Melli Iran Contact Information & Support
Customer Service
Regional Office (Dubai)
General Enquiries
Dubai Main Branch
Bur Dubai Branch
Abu Dhabi Branch
Sharjah Branch
Al Ain Branch
Fujairah Branch
Ras Al Khaimah Branch
Telephone Banking (24/7)
SMS Banking Short Code
Complaints
Regional Office & Headquarters (UAE)
Dubai, UAE
P.O. Box 1894
Tel: +971 4 201 5100
Fax: +971 4 201 5282
Email: bmi@bmi.co.ae
Service Hours (All Branches)
Friday: 08:00 AM – 12:00 PM
Saturday: 08:00 AM – 12:00 PM
Sunday: Closed
Quick Actions
Bank Melli Iran Branch Network in the UAE
Bank Melli Iran operates 7 full-service branches and 1 pay-office across six emirates of the UAE, overseen by the Regional Office in Deira, Dubai (listed separately below, as in the bank’s own locator). All branches have ATM facilities, and the bank runs 11 ATMs in total — the four extra machines are at the Iranian Consulate, Iranian Hospital, Iranian Club and Safa Polyclinic in Dubai. The bank does not currently operate branches in Ajman or Umm Al Quwain.
Abu Dhabi
| Branch | Address | Phone |
|---|---|---|
| Abu Dhabi Branch | Muroor Road, Opposite Madinat Zayed Shopping Centre, Beside ADNOC Petrol Station, Abu Dhabi | +971 2 614 4144 |
| Al Ain Branch | Bin Aziz Commercial Bldg, Main Road, Al Ain, P.O. Box: 1888 | +971 3 711 8777 |
Dubai
| Branch | Address | Phone |
|---|---|---|
| Regional Office (Dubai) | Bank Melli Iran Bldg, Baniyas Street, Deira, Dubai, P.O. Box: 1894 | +971 4 201 5100 |
| Dubai Main Branch | Bank Melli Iran Bldg, P.O. Box 1894, Baniyas Street, Deira-Dubai, Dubai | +971 4 201 5100 |
| Bur Dubai Branch | Ahmed Seddiqui Bldg, Khalid Bin Waleed Street, Bur Dubai, P.O. Box: 3093 | +971 4 305 1111 |
| Iranian Hospital Pay-Office | Inside Iranian Hospital, Satwa, Dubai | +971 4 201 5260 |
Sharjah
| Branch | Address | Phone |
|---|---|---|
| Sharjah Branch | Bank Melli Iran Bldg, Abdul Aziz Street, Al Qasimia, Sharjah, P.O. Box: 459 | +971 6 598 1111 |
Ras Al Khaimah
| Branch | Address | Phone |
|---|---|---|
| Ras Al Khaimah Branch | Bin Mohd Bldg, Al Nakheel Shaqar, Ras Al Khaimah, P.O. Box: 5270 | +971 7 222 9400 |
Fujairah
| Branch | Address | Phone |
|---|---|---|
| Fujairah Branch | Bank Melli Iran Bldg, Hamad Bin Abdullah Street, Fujairah, P.O. Box: 248 | +971 9 222 2551 |
Full Branch Contact Details
| Branch | Fax | |
|---|---|---|
| Regional Office (Dubai) | bmi@bmi.co.ae | +971 4 201 5282 |
| Dubai Main Branch | bmimain@bmi.co.ae | +971 4 229 5454 |
| Bur Dubai Branch | bmibur@bmi.co.ae | +971 4 351 6329 |
| Abu Dhabi Branch | bmiauh@bmi.co.ae | +971 2 621 7621 |
| Al Ain Branch | bmialn@bmi.co.ae | +971 3 766 4449 |
| Sharjah Branch | bmishj@bmi.co.ae | +971 6 598 1188 |
| Fujairah Branch | bmifuj@bmi.co.ae | +971 9 222 4271 |
| Ras Al Khaimah Branch | bmirak@bmi.co.ae | +971 7 222 8797 |
Information may change — verify current terms on the official Bank Melli Iran UAE website (bmi.ae) before making financial decisions. This page is for informational purposes only and does not constitute financial advice.
FAQ — Bank Melli Iran UAE
How do I open a Bank Melli Iran account in the UAE?
Visit any of the 7 BMI branches with your valid passport, Emirates ID, and proof of address. For salary accounts, a salary certificate from your employer is required. No account opening fee is charged. The minimum balance for savings accounts is AED 500 (exempted for salary accounts) and AED 5,000 for current accounts. There is no online account opening process — applications must be submitted in person at a branch.
Can non-residents open a Bank Melli Iran account in the UAE?
BMI primarily serves UAE residents. Non-resident account options may be available on a case-by-case basis. Contact the Regional Office in Dubai at +971 4 201 5100 or email bmi@bmi.co.ae for specific requirements, documentation needs, and eligibility.
What is the Bank Melli Iran SWIFT code in the UAE?
The primary SWIFT/BIC code for Bank Melli Iran UAE is MELIAEAD (or MELIAEADXXX for the head office). Each branch has an extended code. For the full list of branch-specific SWIFT codes and details, see All BMI Swift Codes.
What are the working hours for BMI branches in the UAE?
All BMI branches in the UAE follow the same schedule: Monday to Thursday from 08:00 AM to 02:00 PM, Friday from 08:00 AM to 12:00 PM, and Saturday from 08:00 AM to 12:00 PM. Branches are closed on Sundays. ATMs at branch locations are available outside banking hours.
Does Bank Melli Iran offer credit cards in the UAE?
No, BMI’s UAE operations do not currently offer credit card products. The bank focuses on deposit accounts (savings, current, fixed deposit, call accounts), loans (personal and commercial), overdraft facilities, and trade finance services (Letters of Credit, Letters of Guarantee, Trust Receipts).
Does Bank Melli Iran support Aani Instant Payments?
Yes, BMI is integrated with the UAE Central Bank’s Aani Instant Payment system, allowing customers to send and receive instant payments within the UAE’s domestic payment network. This service is available alongside SMS Banking, Telephone Banking, and Internet Banking.
How many branches does Bank Melli Iran have in the UAE?
BMI operates 7 full-service branches across six emirates: two in Dubai (Main Branch in Deira and Bur Dubai Branch), one each in Abu Dhabi, Al Ain, Sharjah, Fujairah, and Ras Al Khaimah. Additionally, there is a pay-office located inside the Iranian Hospital in Satwa, Dubai. The bank does not have branches in Ajman or Umm Al Quwain.
Does Bank Melli Iran have a mobile banking app?
No, BMI does not offer a dedicated mobile banking app for its UAE operations. Customers can access online banking through the web portal at bmi.ae/inet, which provides 24-hour access for account balances, transaction history, and fund transfers. For more complex banking needs, in-branch visits are required.
Are there international sanctions on Bank Melli Iran?
Yes, Bank Melli Iran is subject to U.S. (OFAC) and EU sanctions. While the bank’s UAE branches operate under UAE Central Bank regulation and continue to serve customers locally, international transactions — particularly those involving U.S. dollars or European banking counterparts — may face limitations or restrictions. Customers should consult directly with their BMI branch regarding any specific cross-border transaction requirements.
What trade finance services does BMI offer in the UAE?
BMI offers a comprehensive suite of trade finance products including Letters of Credit (import and export), Letters of Guarantee, Trust Receipts, and Advances Against Export LCs. These services are particularly suited for businesses involved in Iran–UAE and regional trade corridors. Commercial loans and overdraft facilities are also available to support trade operations. Contact the Regional Office at +971 4 201 5100 for details.
