5.000.000 Rials

Bank Mellat is not a central bank. One of Iran's largest commercial banks, it was state-owned until partial privatization in 2009, and its issuance of bearer instruments denominated in rials is unusual enough to warrant scrutiny. A five-million rial instrument from a commercial bank — not Bank Markazi, Iran's central bank — almost certainly places this outside conventional currency and into the territory of a certificate of deposit, traveler's cheque, or internal bearer bond, categories that commercial Iranian banks were authorized to issue during the late 1990s reform period under Khatami.

The Pick reference P#0 signals this is uncatalogued in the standard literature, which compounds the uncertainty about its precise legal status at issuance.