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Title: Setad  
Author: World Heritage Encyclopedia
Language: English
Subject: Economy of Iran, Islam in Iran, Iran Chamber of Commerce, Industries, Mines & Agriculture, Iranian subsidy reform plan, Television in Iran
Publisher: World Heritage Encyclopedia


Setad (short for Islamic Republic of Iran, with holdings of 37 companies, and an estimated value in US dollars of $95 billion (made up of about $52 billion in real estate and $43 billion in corporate holdings.)[3] It is under the control of the Supreme Leader, Ali Khamenei, and created from thousands of properties confiscated from Iranians.[4]

The organization has been described as "secretive" and "little known". It is not overseen by the national budget, and thus "insulating him from Iran's messy factional infighting".[4]

Much of the information compiled about Setad outside of Iran has come from a 2013 investigation by Reuters news agency. In response, Iranian authorities have stated the findings of the investigation lack "any basis", are "far from realities" and "not correct," but given no further details.[4] According to the same Reuters report, there is no evidence that Khamenei is tapping Setad to enrich himself.[3] According to Professor As’ad Abdul Rahman:[5]

However, an important issue was missed in the Reuters report which is ‘Al Khums’ or the Fifth of excess income paid as a form of Zakat (alms-giving), which is usually reserved for Aal-Al-Bayt, Prophet Mohammad’s Household (PBUH). The black turban of Khamenei signifies that he belongs to Imam Ali Ibn Abi Talib and Fatima’s household and being Al Wali Al Faqeeh (guardian of Islamic jurists with full control of the society’s affairs) gives him the majority share of the Fifth, as was the case with Ayatollah Khomeini. The amount is worth hundreds of millions of dollars accrued annually and added to Setad’s revenues.


The organization started in 1989 to "manage and sell properties abandoned in the chaotic years" after the 1979 Islamic Revolution. Much of its proceeds were to go to assist war veterans, war widows "and the downtrodden."[4]

In 2006, as sanctions against the Islamic Republic intensified, the organization determined that conglomerates such as the South Korean Iran's largest telecommunications company" in 2009. In 2010 it took control of Rey Investment Co, valued by the US Treasury Department at $40 billion that year.[6]

Setad maintains a complex network of front companies and subsidiaries abroad in places like Germany, Croatia, South Africa, the UAE, Turkey and beyond.[6] It stakes in publicly traded companies totaled nearly $3.4 billion.[6]

Reuters reported that petrochemical companies belonging to Setad stand to benefit from the easing of sanctions stemming from the Geneva interim agreement on Iranian nuclear program.[7]

See also


  1. ^
  2. ^
  3. ^ a b
  4. ^ a b c d
  5. ^
  6. ^ a b c
  7. ^

External links

  • Organization chart of Setad
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