City Industries and Mines Development Group, as one of the specialized holdings of Bank Shar, has been established through the utilization banking, industrial and commercial knowledge, expertise and support, and through making use of the most capable individuals and corporate entities, in order to play an effective role in the national economy. It aims to be in line with the macro strategies of the banking system and value-creating investments towards the development of various sectors, especially in the field of urban industries, trade of minerals and base metals, and the capital and stock markets, and to play an active role towards industrial and economic development in the country
As the City Industries and Mines Development Group is wholly owned by Bank Shahr, presence in the chain of urban development activities and participation in large-scale urban projects are among the strategic policies of the group.
As a company specializing in urban industries and catering to municipalities, it plays an important role in providing for the needs of urban services. These include subway equipment, city buses, construction and establishment of digesters and incinerators, fire engines, Hydraulic ladders and presence in the cycle of sustainable energy supply, taxis and electric motors, supply of elevators and escalators, urban furniture and supply of materials needed for projects such as rebar, bitumen, beams and cement, etc. plays. Considering the pivotal role of the stock exchange in the capital market and its importance in the process of economic development of the country and the need to invest and buy and sell shares of manufacturing and stock exchange companies as a profitable and value-creating economic activity, it has been included as part ofg the group’s agenda. Procurement of raw materials, equipment and machinery for manufacturing plants, as well as exports of domestic products, mining and metals abroad are among the strategic plans and policies of this group to help boost production and growth and development of the national economy.