NCRI – An Iranian regime’s banking and financial expert acknowledged in his interview with regime’s news TV channel that owners of credit institutions have political power and special backing, yet don’t care a bit about the law.
“These (unauthorized) institutions are being run by those who have no scientific, technical, and moral jurisdiction to run such places”, acknowledged Ahmad Hatami-Yazd in his interview, adding”And they lacked such qualifications from the beginning. It’s just like a fake doctor whose efforts to treat a patient will only lead to patient’s deteriorated conditions. The point is that the fake doctor has only a few clients, maybe 5, 10, or 20, but the clients of such institutions are unfortunately hundreds of thousands and that’s why it’s turned into a social crisis. Thanks to their political power and special backing, the founders of such institutions were allowed to act like a fake doctor, opening offices all over the country to receive people’s deposits.”
He then gave more explanations over the Institutions’ predatory policy and political power, saying “the Central Bank is no match for those it has to deal with, meaning the bank lacks enough executive power. For example, I remember one of the first such unauthorized institutions named ‘Ghavamin’ was actually linked to a number of law enforcement officials. Asked about the Central Bank’s failure to stop the institution’s operation, a bank’s official responded “in that case I have to close the law enforcement force’s door. After all, these are themselves the law enforcement forces, what am I supposed to do with them?”
“The same story is also true for Mizan credit institution”, the regime’s expert continued, adding “Mizan was founded by a number of officials in Mashhad Judiciary, where they’re supposed to try offenders and issue their sentences, while the judiciary itself is violating and bypassing the law. Is the Central Bank any match for Mashhad Judiciary?”
Hatami-Yazd then points to another example, saying “the same story is also true for institutions linked to law enforcement bodies. There are too many different types of such power centers in the country that don’t observe the law, and don’t care about it, either.”
To further prove his point, Hatami-Yazd then points to another instance, saying “when I was a bank CEO, I was summoned by a Friday Prayer Imam, who said they’d started a loan fund named ‘Mohammad Rasoulollah’, but they were stuck along the way. I asked him why they did that in the first place. He told me they thought they were doing something philanthropic. I then reminded him that he was a jurisprudence expert, and that he should’ve consulted with a banking expert before moving forward. The point is, the founders of such institutions were not scientifically and morally qualified to run such places, but they had political power which allowed them to move ahead.”