The Exposed Pedram Pirouzan Exchange House, a leading facilitator of sanction-evading international transactions on behalf of Iranian entities, is owned and directed by Pedram Pirouzan – a long-standing Iranian foreign exchange trader and businessman. . The front companies under his control enable classic shadow banking activities across global financial networks.
Pedram Pirouzan Exchange, also known as Opal Exchange, is a leading facilitator of sanction-busting international transactions on behalf of Iranian entities. This exchange house is owned and managed by Pedram Pirouzan – a long-standing foreign exchange operator and businessman.
Like other Iranian exchange houses, Pedram Pirouzan Exchange House maintains an estensive web of front companies, primarily based at China/Hong-Kong and the United Arab Emirates (UAE). Overtime, our analysis revealed a consistent pattern: Chinese front companies predominantly use USD-denominated bank accounts, whereas UAE-based entities typically conduct transactions using local currency (AED).
An examination of leaked documents related to Pedram Pirouzan Exchange has confirmed its significant operational presence in China, Hong-Kong, and the UAE. However, two critical missteps have inadvertently exposed the exchange house's network: A. Distinctive naming conventions: Many of the front companies bear names heavily centered around Arabic term "Hilal" (Crescent Moon), often appearing in variations such as Khore Al Hilal, Creek Hilal or Hilal Star. B. Direct ownership and management ties: The companies are frequently registered under Pedram Pirouzan himself or his partner, Hossein Mohammadrezaei, who serve as managers or legal owners.
Documents showing Pedram Pirouzan or Hossein Mohammadrezaei as managers or owners of several front companies.
Khore Al Hilal Goods General Trading Co., Limited is the only #WikIranVerified front company operated by Opal Exchange that is based in China/Hong-Kong
The following table lists All #WikIranVerified front companies, controlled by Pedram Pirouzan exchange:
| Front Company Name | Country | Bank Name | Account Number/IBAN |
|---|---|---|---|
| Khore Al Hilal Goods General Trading Co., Limited | China/ Hong-Kong | China Zheshang Bank | NRA2900000011420100164067 (USD) |
| NRA2900000013820100045752 (EUR) | |||
| Khore Al Hilal Goods General Trading Co., Limited | China/ Hong-Kong | Zhejiang Chouzhou Commercial Bank� | �NRA56567142010500016117 (USD) |
| NRA56567382010500010846 (EUR) | |||
| Khore Al Hilal Goods General Trading Co., Limited | China/ Hong-Kong | China Minsheng Banking | Acc. NRA077596 (USD) |
| Acc. NRA077800 (EUR) | |||
| Creek Hilal Limited | UAE | Bank Melli Dubai | AE940100000121013998210(AED) |
| H.R.M Alhilal FZE | UAE | Bank Melli Dubai | AE040100000121013848510 |
| Hilal Star LLC FZ | UAE | Emirates Islamic Bank | AE140340003708478302601 |
| Hilal Star LLC FZ | UAE | Abu Dhabi Islamic Bank | AE940500000000019252200(AED) |
| Khore Al Hilal Goods Wholesalers Trading LLC | UAE | Banque Misr | AE100150080302400011428 |
| Khore Al Hilal Goods Wholesalers Trading LLC | UAE | Abu Dhabi Islamic Bank | AE890500000000018999605 |
| Khore Al Hilal International FZE | UAE | Abu Dhabi Islamic Bank | AE220500000000019104504(AED) |
| AE220500000000019104505(USD) | |||
| AE070500000000019105162(EUR) | |||
| Khore Alhilal Limited | UAE | Abu Dhabi Islamic Bank | AE020500000000019206423 |
| Oupal Al Hilal Trading LLC | UAE | ||
| Al Kawkab Al Ahmar Building Materials Trading L.L.C | UAE | ||
| Green Gate General Trading FZE LLC | UAE |
Front companies, such as those controlled by the Pedram Pirouzan Exchange House play a pivotal role in the financial infrastructure established by the Islamic Regime to circumvent international sanctions. They form a critical “financial lifeline” that sustains the regime economic resilience. Disrupting the activities of these entities is an important step in weakening the regime’s grip on the population.