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What is Iranian Saffron Bank?

Iran’s Saffron Bank has launched a Saffron Bank in Torbat Heydarieh, a Saffron Center in the north of the country, according to Iran’s press-service on Sunday 22 January, according to China’s International Radio.

Saffron Bank Director Gholamreza Karimi announced that the bank’s saffron reserves will reach 10 tons, and in the future, this can be increased to 20 tons. An option for saffron is provided to pay saffron to the bank and receive a “certificate of deposit” with the recognition of the degree of saffron by the bank. The bank also holds saffron in low-temperature conditions.

Saffron Bank Chairman stated: Saffron deposit can also be sold to others. Every person, including a saffron or who has a certificate of deposit and demand for saffron, will give him a saffron in the amount of his deposit.

Iran is the largest producer and exporter of saffron in the world, producing more than 90 percent of the world’s saffron and exporting it to over 50 countries.

source: cri /cn