From Dubai to Istanbul: Tracing Radin Exchange's Hidden Network of Front Companies
WikiIran's Exclusive
By
Editorial
/
November 2025
The recently exposed Radin Exchange operates mostly through front companies based in the United Arab Emirates, very similarly to many other Iranian exchange houses.
While reviewing the leaked documents, it became evident that a small number of front companies are significantly over-represented in the materials. This pattern strongly suggests that these companies form the core of Radin Exchange's front company network: • Four Spaces Trading LLC • Petroclub Trading LLC • West Vista Trading LLC • Single Field LLC • Wave Point General Trading L.L.C • Teal Street Trading L.L.C
Examples of proforma invoices used by Radin Exchange's most prominent front companies.
In addition to its extensive network of approximately 62 front companies used to facilitate payments in the UAE, WikIran also identified a Turkish-based front company operated by the exchange house: Safir Global Kara Deniz Tasima.
The following tables provides basic information about these front companies and their associated account details.
| Company Name | Bank Name | Bank Account |
|---|---|---|
| Four Spaces Trading LLC | Dubai Islamic Bank | AE100240097524111297201(AED) |
| Banque Misr | AE260150080309100042864(AED) | |
| MCB Bank | AE1009100000335100000(AED) | |
| Eurim FZ LLC | Al Maryah Community Bank | AE460973002784050000001(AED) |
| Global Synergy Commercial Brokers Co LLC | Emirates Islamic Bank | Acc. 3708481338601(AED) |
| V Elementis DMCC | Mashreq Bank | |
| I P D Steel Products Trading LLC | Dubai Islamic Bank | AE720240097524151476201(AED) |
| Petroclub Trading LLC | Bank Alfalah | AE160990000001100019716(AED) |
| MCB Bank | AE180910000031640000017(AED) | |
| Estanica Trading LLC | Banque Misr | |
| Hera Trading FZE | Abu Dhabi Islamic Bank | AE420500000000019280878(AED) |
| Tradexia Trading L.L.C | Abu Dhabi Islamic Bank | AE060500000000019260671(AED) |
| West Vista Trading LLC | MCB Bank | AE680910000031050000012(AED) |
| First Abu Dhabi Bank | Acc. ******6153892001(AED) | |
| Emirates Islamic Bank | AE070340003708474523801(AED) | |
| Dubai Islamic Bank | AE120240097524107028001(AED) | |
| Totem Petroleum FZE | Mashreq Bank | AE200330000019101324282(AED) |
| Afabla Trading LLC | Emirates Islamic Bank | Acc. 3708474055001(AED) |
| Green Leaf Petrochemicals Trading | Bank Alfalah | AE290990000001100020161(AED) |
| Hub Tech Trading FZE | MCB Bank | AE120910000022720000017(AED) |
| Sky of Hope FZE | WIO Bank | AE330860000009783704171(AED) |
| I N E O S Trading LLC | Banque Misr | AE540150080309100040905(AED) |
| Grand Shaher Trading LLC | Banque Misr | |
| Babil Trading DWC LLC | Abu Dhabi Islamic Bank | AE350500000000019231146(AED) |
| Dubai Islamic Bank | Acc. 097524389589801(AED) | |
| Fortro General Trading Co LLC | First Abu Dhabi Bank | Acc. 1191326153532001(AED) |
| Matrix Global Trading FZCO | Banque Misr | AE490150080309100037988(AED) |
| Elite Energy FZCO | MCB Bank | AE130910000028130000011(AED) |
| Single Field Trading LLC | Banque Misr | AE510150080309100045421(AED) |
| Abu Dhabi Islamic Bank | AE100500000000019287953(AED) | |
| MCB Bank | AE470910000033550000014(AED) | |
| RSFR Trading L.L.C | Abu Dhabi Commercial Bank | AE800030012910687920001(AED) |
| Artuklu Trading FZE | Abu Dhabi Islamic Bank | Acc. 18926382(AED) |
| Crystal Pearl Goods Trading FZCO | Banque Misr | Acc. 80309100047788(AED) |
| Jhang Union International LLC FZ | Mashreq Bank | *********547(AED) |
| Emirates NBD | AE960260001015910547001(AED) | |
| Glam Trade Commodities FZCO | Banque Misr | Acc. 80309100046785(AED) |
| ASZ Company - FZCO | WIO Bank | AE670860000009041519893(AED) |
| Lima Trading FZCO | Emirates NBD | Acc. 1015843935801(AED) |
| Wave Point General Trading L.L.C | Abu Dhabi Islamic Bank | AE180500000000019232810(AED) |
| MCB Bank | AE130910000033490000015(AED) | |
| Banque Misr | AE880150080309100044076(AED) | |
| Silver Point Trading L.L.C | Banque Misr | AE050150080309100041690(AED) |
| Lukova General Trading FZE | Banque Misr | AE190150080309100029119(AED) |
| Balmart General Trading FZE | Banque Misr | AE900150080309100020566(AED) |
| Trusam Trading L.L.C | Habib Bank | AE110280020127772307203(AED) |
| High Light FZE | Bank of Baroda | AE050110090010200033093(AED) |
| Blue Wind Petrochemicals Trading L.L.C | Emirates Islamic Bank | AE380340003708478055401(AED) |
| V A N Trading Co L.L.C | Banque Misr | AE180150080309100028943(AED) |
| Prruo Trade Resources FZ LLC | Banque Misr | |
| Blackwall Petrochemicals FZE | Bank of Baroda | AE390110090040200022343(AED) |
| The Moonarc FZCO | Mashreq Bank | *********005(AED) |
| Urban Pulse Trading LLC | Emirates NBD | AE360260001015906509001(AED) |
| Claydon Trading L.L.C | First Abu Dhabi Bank | AE210351191326031474001(AED) |
| Avantex Building Materials Trading LLC | United Bank Limited | AE210470000000200799773(AED) |
| Mardin General Trading LLC | Arab African International Bank | AE250070036061393101001(AED) |
| Albatross General Trading LLC | ||
| Teal Street Trading L.L.C | Banque Misr | AE980150080309100043120(AED) |
| Abu Dhabi Islamic Bank | AE280500000000019294419(AED) | |
| Sky Point Trading Co L.L.C | Abu Dhabi Commercial Bank | AE910030012806922920001(AED) |
| Bonavista Trading FZCO | Banque Misr | AE690150080309100032099(AED) |
| Wild Magma Trading L.L.C | Banque Misr | AE860150080309100030435(AED) |
| Grand View General Trading LLC | ||
| Allied Building DMCC | Emirates Islamic Bank | AE680340003708332508301(AED) |
| Zoomzone Trading LLC | Banque Misr | AE960150080309100043641(AED) |
| Noor Albader Trading LLC | Emirates Islamic Bank | Acc. 3708474980301(AED) |
| Nox World General Trading L.L.C | United Arab Bank | AE470460001034025686001(AED) |
| Darvish General Trading LLC | Abu Dhabi Commercial Bank | AE160030010163173124001(AED) |
| G D G 77 General Trading LLC | Banque Misr | AE730150080309100033579(AED) |
| Energinex Petroleum Products Trading | First Abu Dhabi Bank | AE590351001326149888001(AED) |
| Bluegen Trading - FZCO | WIO Bank | AE340860000009477990126(AED) |
| Al Sandal Al Dhabi General Trading L L C | El Nilein Bank | AE470910000033550000014(AED) |
| Next Rise Trading L.L.C | Sharjah Islamic Bank | Acc. 7827402349092101(AED) |
| Straight Click Trading LLC | ||
| Westinol Energy Blend Oil Trading L.L.C | Bank of Baroda | Acc. 90040200021803(AED) |
| Innovation Worldwide DMCC | National Bank Of Fujairah | Acc. 012994059139(AED) |
| Company Name | Bank Name | Bank Account |
|---|---|---|
| Safir Global Kara Deniz Tasima | Halk Bank | TR920001200174700053100118(EUR) |