On Jan. 15, 1939, Bank Rahni was established through partnership of then Ministry of Finance and Bank Melli Iran with an amount of capital given as IRR 200,000,000.00 as a specialized bank involved in housing and construction and it officially launched its activity in 1939. Line of activity of Bank Rahniencompassed the corresponding bank issues to housing. Loan facilities in return for mortgage of immovable property aiming at purchase, construction, completion, repair and granting credit to construction companies were among the major activities of the said Bank. From the beginning of its establishment, Bank Rahni, loan facilities for construction were granted on the condition of submission of approved municipal maps. It guided building owners in construction affairs by its engineers at any possible opportunity. Eventually, the houses constructed through financial grant of Bank Rahni of Iran enjoyed great strength and equipment.
Following victory of islamic revolation Bank Maskan was established in 1979 based on plan for merging of banks (ratified by Islamic Revolution Council on June 7, 1979) by merging of Bank Rahni of Iran, Construction Bank, Construction Investments Company of Iranian Banks and 13 housing savings and loan companies (Kourosh, Ekbatan, Pasargad in Tehran and other city centers of provinces such as Hamedan, Kermanshah, Mazandaran, Gorgan, Semnan and Abadan).. Major range of new combination launched its activity at construction and housing section under the name of Bank Maskan, involved in its banking activities comprising Bank Rahni of Iran from each and every aspect.
Presently, thanks to its widespread network across the nation as an accredited economic enterprise, Bank Maskan is involved in construction of residential units as well as granting loan facilities and housing services including loans (mozarebeh, hire purchase for providing medical practice offices, practice offices, and purchase of medical equipment), opening current accounts, issuance of types of letters of guarantee, money orders, fax check services, traveller’s checks, types of foreign currency affairs, L/Cs, types of electronic services, Real time gross settlement system (SATNA), telephone bank, Maskan Card, Pin Pad, self-receipt of installments device, ATM, POS, calculation of interest of deposits (in webs), Gift card and round-the-clock bases.