Arak, Iran Arak, Iran Arak (, "Arâk"; ), is the capital of Markazi Province, Iran. At the 2011 census, its population was 526,182, in 160,761 families. this city nicknamed as Industrial Capital of Iran. A major industrial city, Arak hosts several industrial factories inside and within a few kilometers outside the city, including the factory of Machine Sazi Arak and the Iranian Aluminium Company. These factories produce nearly half of the needs of the country in steel, petrochemical, and locomotive industries. As an industrial city in a developing country, Arak is subject to the issue of air pollution. The term "Arâk" remains
Central Bank of Iran In 1890 it introduced the first bank notes in Iran, ranging from 1 to 1,000 tomans. The bank did not do much to strengthen the Iranian capital formation or support then-currency of Iran, qiran. The first state-owned Iranian bank, Bank Melli Iran was established in 1927 by the government of Iran. On 30 May 1930, it took the responsibility to function as Iran's central bank, and took the rights of the Imperial Bank for £200,000, while it acted as a commercial bank at the same time. The bank's primary objective was to facilitate government's financial transactions and to print and