Iran Economy NewsBanking Corruption in Iran

Banking Corruption in Iran

-

Iranian President Ebrahim Raisi in a conference on the Ardabil Administrative Council regarding the duty of the banking system said:

“No bank is allowed to shut down any production unit. The production unit should be always operational. If a bank seeks a demand, there is no problem, but why is a production shut down? Why are the workers becoming unemployed? This is not right at all.

None of the production units should be shut down because the banks are pursuing their demands nationwide.” (State-TV, October 22, 2021)

Iran watchers say the Iranian President knows that he is lying, and he has absolutely no control over the banks.

Saeed Leylas, a state-affiliated expert, said: “We handed over the money to the esteemed investors. Immediately they have invested it outside the country in Real estate, gold, dollars. The official expert of the judiciary has committed officially robbery with the help of the bank’s administration. The reason for all these problems of corruption is the banking network.

“Especially private banks. They are the institutional looting mechanism of plundering Iran’s people. They printed banknotes to confront the coronavirus and inject it into the market. This is robbery. I know the banking network as the biggest source of corruption in Iran.” (Etemad Online)

Thus, this state-affiliated expert is showing the main address of the corruption in the country which is the government itself. So, the speeches of Raisi are meaningless.

Adel Peyghami, an economist and professor at Imam Sadegh University, said on State TV Channel 5:

“Where is this rent going? That money is created by banks. And banks are one of the institutions that must be corrected seriously in this surgery.”

“Moderator: ‘In these twenty years, where were those periods when the big rents were won by some groups and became a colony of power?’

“Adel Peyghami: ‘I said that a major part of it is in the field of the banking system and money creation.” (State TV Channel 5, October 29, 2021)

Meanwhile, Hossein Raghfar, another economist, about the corrupt banking system said: “While with this corrupt structure that exists in our banking system and our tax system, that is, we do not tax the rich, we do not tax the wealthy, our banking system equips the resources of the people, puts in the pocket of the car importer, who said that in the current situation of the country, we should import cars?” (State TV Channel 4, October 27, 2021)

Alireza Salimi, an MP, about the consequences of the banking system corruption, said: “It is necessary to reform the monetary and banking system and change the course of banks from entrepreneurship on the one hand and usurious banking operations on the other. Delay in reforming this process will ignite a fire that will turn the hegemony of the government and the nation to ashes.” (Parliament session, October 31, 2021)

Latest news

Iran: Militarization of the Country’s Education

After months of contention about the position of the minister of education, the Iranian regime’s president Ebrahim Raisi finally...

As Thousands of Iranian Prisoners Were Executed in the 1988 Massacre, the World Remained Silent

With the trial of former Iranian prison official Hamid Noury still ongoing in Sweden, proceedings were briefly expedited to...

Even a Revived JCPOA Will Not Save Iran’s Government

Since the beginning of the Iranian regime’s nuclear crisis, which was revealed by the Iranian opposition group, the MEK,...

Iran’s 1988 Massacre Will Never Be Erased From History

As the trial of former Iranian prison official Hamid Noury races forward in Sweden, supporters of the Iranian Resistance...

Iran’s Government Auctions Everything, Now This Bad Fortune Has Hit the Country’s Palms

The Iranian government is auctioning everything from the country’s resources and wealth, and the latest news is that they...

Iran Is Thirsty As People Protest

The hollow promises of the Iranian regime to the people are no longer effective. These days there is a...

Must read

Russia rejects U.N. proposals on Iran

AP: Russia's U.N. ambassador on Friday rejected proposals for...

Iran’s oil minister sacked

Iran Focus: Tehran, Iran, Aug. 12 – Iran’s Minister...

You might also likeRELATED
Recommended to you