History

The “Institute for Culture and Art Credit” was founded as an independent, non-profit, and non-governmental entity in the late 1980s (i.e., 1360s in the Persian calendar), during a period when Iran's Ministry of Culture and Islamic Guidance prioritized the development of cultural and artistic activities and the support of activists in these fields. The institute aimed to provide a platform for the activity of researchers, writers, and artists and meet their essential needs.
The payment of banking facilities to cultural and artistic activists, along with investment, commercial activities, and credit operations, was determined to be the subject of the institute's activity based on the statute registered on July 14, 1992.
The institute renamed to “Economic Institute for Culture and Art Development” and, as a result, its objectives and subjects of activities were revised three months after its establishment.
After the first board of trustees was established and its members were chosen, the founding board—which included Seyyed Mohammad Khatami, Mohammadhossein Rezaei, Ali Saghafi, Mohammadbagher Karimian, and Ahmad Masjedjamei—came to an end.
The then-Minister of Culture and Islamic Guidance chaired the institute's board of trustees, and the members were Mr. Mahmoud Boroujerdi, Sadegh Ayenewand, Nasrollah Javadi, Mohammadali Rajabi, Seifollah Dad, Mehdi Chamran, Sabah Zanganeh, Fakhruddin Anwar, and Abolghassem Khoshrou. The appointments were made for a three-year term.
Mohammadhossein Rezaei, Masoud Hajarian, Seyed Rasool Sadatnejad, Hossein Yavari, and Abdulhossein Beheshti were chosen by the board of trustees to serve on the board of directors, and Hossein Yavari was appointed as the first managing director of the Economic Institute for Culture and Art Development.
According to the statute enacted on December 7, 1992, the institute shall make use of the existing financial resources to generate revenue for the advancement of culture, the promotion of Islamic values throughout Iran by developing cultural, educational, and artistic centers; the sponsorship of dedicated artists, scholars, filmmakers, and writers; financial support for the Hajj and Pilgrimage Organization of Iran to enhance pilgrimage services; and the facilitation of any artistic, cultural, and educational endeavors aiming at the growth and dissemination of Islamic culture both inside and outside of Iran.
In an extraordinary meeting on November 28, 1993, chaired by Ali Larijani, the then-Minister of Culture and Islamic Guidance, the board of trustees renamed the institute to the “Institute for Culture and Art Development”.
Throughout its history, the Institute for Culture and Art Development has provided high-quality services for culture and art activists in addition to taking a variety of measures to strengthen the cultural economy.