Zanjani Launches Private Gold Market Despite Central Bank Warnings
August 24, 2026 — By Arezoo Karimi
Babak Zanjani starts a new private gold market called “DotOne Gold.” He makes this move one year after customs took a gold shipment tied to him. The rules give the Central Bank the only right to control currency and gold trade in Iran. Zanjani acts even though officials have warned against him.
Background: Seizure and Official Warnings
In mid-2025, Iranian customs took 13 kilograms of gold ingots. They came under the “DotOne” name and failed to meet the set quality rules. The gold had the DotOne Holding logo that points to Zanjani. Soon after, the Central Bank said that Zanjani and his partners have no permits for any trading in gold or foreign money. The bank makes it clear that it runs all gold and currency markets in the country. The former Central Bank head, Mohammad Reza Farzin, called Zanjani a “fraudster and mega-debtor.” He urged him to pay his debts to the state instead of affecting the nation’s economy.
The DotOne Gold Private Bullion Market Launch
On July 22, 2026, Zanjani opened the DotOne Gold center in Tehran. The site sells 24-karat gold ingots that weigh from 1 gram to 1 troy ounce. An ad campaign spreads word of this side market that aims to compete with state-run gold sales. Official auctions in Iran are held by the Iran Currency and Gold Exchange Center and the Iran Mercantile Exchange. They serve only licensed banks, manufacturers, and big wholesalers. In contrast, DotOne Gold sells to anyone.
The DotOne Gold website does not show a needed online trust mark. It lacks the Electronic Trust Mark from the national center for online trade. This mark is required by both the Central Bank and the payment company Shaparak for online money transfers.
Legal and Regulatory Concerns
Without the trust mark, DotOne Gold cannot run a full online payment setup. Customers must now use mobile banking apps or visit bank branches to pay for their gold. This gap in rules raises a problem. Many small sites lose online payment access, yet DotOne keeps large sums of money moving through its system. Experts say buying gold from a non-certified site brings legal risks. Buyers face weak protection under national trade laws. This means getting help in disputes or when fraud happens is hard. The method of gathering money or promising investment returns by selling gold usually needs a state permit. DotOne Gold does not have such permission.
The Central Bank’s Monopoly Over Gold Markets
The Central Bank alone can issue gold coins and set the price of gold sold through state exchanges. The private sector may take part only under strict rules and state watch. Any gold sale outside these rules is not allowed. Zanjani, a man with old criminal cases and large debts, now works in this gold trade. His role challenges the Central Bank’s grip over the market. The state fears that problems in a private market might harm the whole economy.
Implications and Outlook
The launch of the DotOne Gold market shows rising tension between private money groups and state regulators in Iran. Zanjani’s actions take place under clear state rules and warnings. His network now grows in the gold and digital asset fields through many connected companies. This trend makes several groups worry:
- Regulators and authorities must review why some sites work without proper permits.
- Consumers and investors risk harm when dealing with a market that lacks full legal checks.
- The economy might face issues if private gold markets run into trouble under state rules.
Zanjani uses high-profile ads and his delivery company “PostEx” to support the new market. The future of private gold trading in Iran now hangs on how state agencies reply to such moves.
In summary, Babak Zanjani starts a private gold market that challenges the Central Bank’s sole control over gold trade in Iran. His plan goes ahead even after clear warnings and legal disputes. The costs of this move may be shared by the public and those who depend on stable trade rules.
