Home Blog Only 400 Elite Families Are Behind Iran’s Disastrous Poverty

Only 400 Elite Families Are Behind Iran’s Disastrous Poverty

By Mahmoud Hakamian

In a country oppressed by mullahs, there are only two sides to a coin: extreme wealth and extreme poverty.

One must ask, why should 400 elite families, who happen to rule the politics and economy of an entire country, get to take such massive amounts of money whilst the rest of the nation live in poverty?

According to a government official, these elite families, also referred to as “super-debtors”, have taken tens and hundreds of billions of dollars from banks, all interest-free. They reportedly use the power of their networks towards rent-seeking and obtaining massive loans under the name of ‘production design’; but the loans get spent on everything but production, in matters like construction and import; despite the huge profits that are so easily made with their plunder, they continue to refuse repaying their debts to banks.

The amount these super-debtors owe the banks

According to a state news known as Khabaronline (8 July 2018), these debtors owe more than 110 thousand billion Toman thusfar. An astronomical figure that is equivalent to a whopping 26 billion and 190 million dollars.

In another report from Tasnim news (3 July 2018), a member of the parliament’s economy sector (named Rahim Zare) has admitted to the fact that the amount of money some of the government figures made just last month alone, is more than the subsidy paid to people over a whole two years; i.e., a shocking 21 billion and 440 million dollars!

As can be seen from both reports, which came out surely due to an inner conflict between political gangs, so far more than 47 billion and 630 million dollars have been taken from people’s share of national wealth.

Super-debtors also owe the Teachers Deposit Fund

These super-debtors also owe the Teachers Deposit Fund, which was initially created using the hard-earned income of many Iranian teachers, years ago. More than 40% of this Fund is kept in Sarmayeh Bank, which according to state news, had given away 483 billion Toman to a number of influential figures, between September 2016 and early March. One of those figures being Mirzaei, a managing director of Qanoon Newspaper, who has stolen 80 billion Toman from this bank.

When comparing the social differences of Iran with other developed countries, even those in which some of the greatest investors of all time reside, the most significant difference is surprisingly seen in Iran! The reason for such an unprecedented gap is clearly the malversation and plunder of the regime’s authorities who stop at nothing for their own profit.

Mahmoud Hakamian is a member of the Foreign affairs committee of the National Council of Resistance of Iran.


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