Iranian authorities have ordered an urgent valuation of Iran Mall, the world's largest commercial complex, as part of the formal resolution process for Ayandeh Bank, which was placed under regulatory administration last year following severe capital erosion.

 The valuation has been initiated under a directive issued by the Supreme Council for Economic Coordination of the Heads of Powers and within the framework of Ayandeh Bank’s resolution mechanism, local EcoIran reported on December 23.

The task has been assigned to the judiciary's official experts in asset and property valuation; however, due to the sheer size of the complex, which includes hotels, malls, car parks and a running track effectively exhausted the banks' funds.

In a statement released by the Central Bank of Iran’s public relations office, it was said the valuation would be conducted “through a specialised process using one of the largest and most diverse expert panels assembled for such an assessment.”

The CBI added that, drawing on prior evaluations, the process is expected to reach conclusions “in the shortest possible timeframe.”

The valuation committee includes experts in finance, law, engineering, real estate and economic assessment, and has been mandated to conduct a comprehensive review of Iran Mall’s assets, liabilities and underlying value.

The stated objective is to enhance transparency, reduce systemic risk and protect stakeholder rights in line with legal requirements.

Ayandeh Bank has been at the centre of Iran’s most serious banking failure in recent years. By October 2025, the lender had accumulated losses of IRR550 trillion ($503mn) against registered capital of just IRR1.6 trillion, while its overdrafts from the central bank had reached IRR500 trillion.

Its capital adequacy ratio, legally required to be 8%, had fallen into negative territory, according to local outlet Didban. The bank is one of several privately owned financial institutions that hit the buffers in recent years due to US sanctions imposed on the country in 2017. 

Regulators placed Ayandeh Bank into resolution on October 23. State-owned Bank Melli Iran (BMI) is set to absorb IRR267 trillion in deposits and all employees, while unaffiliated shareholders have been offered settlement at the highest share price over the past year or participation in asset liquidation.

Iran Mall, owned by Ayandeh Bank and its former owners, has previously been valued by judicial authorities at IRR3.5 trillion, however, despite the high price it will likely now be sold for a fraction of its price if it goes on the market due to the severe economic trauma the country is experiencing. 

In 2022, the country's criminal court indicted dozens of individuals, including senior Ayandeh Bank executives, including its boss Ansari, government officials and businessmen, on charges of disrupting the economic system through banking fraud and embezzlement, according to a court document leaked at the time.

Accordingly, the court said, Branch 1059 of Tehran's Criminal Court issued the indictment against officials from the Ministry of Economic Affairs and Finance, Police Intelligence and Security, Bank Ayandeh (Future Bank), Bank Melli and various other entities.

The indictment accused the defendants of using their positions to obtain illegal loans through manipulation of the banking system, creating disruption in the banking sector, and interfering in the land registration system.

The charges also included embezzlement through various fraudulent schemes and money laundering operations designed to disrupt the banking system.