Dr. Morteza Akbari, the current Chief Executive and Vice Chairman of the Qarz Al-Hasaneh Mehr Iran Bank, known as QMB, was born in 1972 in Falavarjan, a city in Isfahan province in central Iran. Prior to his current position, Dr. Akbari served as a member of the board of directors at EDBI (the Export Development Bank of Iran) , Iran Investment Company and EDBI Exchange Company from the period of 2006 to 2016. He was also the Head of Faculty (Humanities) and Head of Department (Accounting) at the Persian Gulf University during the same period.
Dr. Akbari is a high-profile banker, super-bright economist and a university professor with decades of working and teaching experience in the Iran economy under his belt. He is an alumnus of some reputable and prestigious Iranian universities. He received his bachelor’s, master’s, and Ph.D. all in accounting from Shahid Beheshti, Tarbiat Modares and Allameh Tabataba'i University, respectively.
Dr. Akbari has taken the helm at the QMB bank since 2016 and ever since he has raised the bank’s profile and had a unique impact on the bank’s evolution in the country by promoting Micro-Loans as a way to empower impoverished families and the poorest members of the society. Running under the motto “capacity building for a better life”, the bank seeks to support services for aid-seekers covered by the social safety network and NGO’s in order to improve the economic indicators in the society while helping the low-income people by offering Interest Free, Hassle-free, Low-cost, Affordable and Easy Loans to people from all walks of life in such areas as entrepreneurship, subsistence, marriage and medical treatment with the aim of empowering the disadvantaged groups so as to help eradicate poverty and economic deprivation especially in the deprived areas of the country. To that end, there are several schemes for the various strata of the society so that everyone can resolve his/her financial problems by receiving an appropriate loan. The bank has been generating income by charging loan service fees at an annual rate of zero-to-four-percent for the services rendered covering all the overhead expenses, administrative charges and operational costs of the loan transactions.
During his tenure as CEO, QMB has become one of the fastest growing banks in Iran, being among the top ten performing banks with its assets increased by almost 299%. Under his management, QMB earned a reputation for being compassionate toward the poor and disadvantaged and for this reason received an award for the best image among financial institutions at “The 16th national production festival as the financial supporter of the local producers. His positive and distinct function such as creating online systems for account opening and receiving loan facilities, increasing the amount of loans offered by the bank, paying loans whether it's for wedding, student loans or even medical treatment costs, has increased the bank’s resources dramatically as well as the restructuring of the bank’s structures. Running a bank with a high public profile in Iran, Dr. Akbari feels the need to increase the bank's profile in Islamic countries as well.