EghtesadOnline: An unprecedented bank merger is underway in Iran since last March in which five banks and credit institutions affiliated to military organizations are being merged with the state-owned Bank Sepah.

EghtesadOnline: The Securities and Exchange High Council, the highest capital market decision-making body, has issued the permit for selling the shares of five soon-to-be-merged banks in the after-hours trading, the chief of Securities and Exchange Organization said.