In 1993, and pursuant to the enactment of the central council of Islamic Revolution Housing Foundation and in order to use present machinery capabilities and utilities of the institution, the machinery bank organization formed and from its beginning, it was in the framework of the Housing institution and in part in the form of note number 24 of length budget act succeed in entering in the diverse development project nation- wide.

The ups and downs of nine years of machinery bank organization and necessity of achieving independent legal personality to establish harmony with economic orientation of the government in ceding public affairs tenure to the private sector and also making clear activates, made then authorities of the foundation to take action in legal recording of machinery bank organization which was active as a part of body and in the framework of one of the deputyships of the foundation until that time.

The new body as the successor of the organization and using transfer of the capitals and properties of the mentioned organization in 2002 recorded as one of the non paramedical bodies of the institution and under the name of Saman Mohit Company 100 percent of the shares is belong to The Housing institutions.