Iran News

Symbolic Execution of Central Bank Governor Effigy in Caspian Institution Depositors’ Protest

A group of depositors from the Caspian financial credit institution gathered in front of the Tehran Prosecution Office for Financial and Monetary Crimes.

At the gathering held on Saturday, Ordibehesht 22, participants, in protest against the Central Bank’s issuance of a license for the Caspian institution without proper review and lack of oversight, symbolically executed an effigy of the Central Bank governor.

Previously, at gatherings of depositors from financial credit institutions in Iran, harsh slogans had been raised against Hassan Rouhani, the president, and some government members.

Gathering participants announced on Saturday that after 18 months have passed since the promised payment of their deposits, they have still been unable to receive them.

Protests against a number of financial institutions due to the failure to return people’s deposits have continued throughout the past year.

A number of financial institutions in recent years, with promises of high returns, attracted citizens’ savings but subsequently were unable to pay returns or even return the principal balance. These institutions faced judicial and central bank action, but the settlement of their accounts has been prolonged.

Although government officials have stated that repayment of deposits from these institutions is being carried out gradually, depositors in multiple protest gatherings have stated that they have not received their money.

On the other hand, Islamic Republic officials have not provided clear explanations about how these institutions were formed and who founded them.

Source: Voice of America

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