{"id":23059,"date":"2017-06-22T19:56:52","date_gmt":"2017-06-22T18:56:52","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/issues\/economy\/23059-iran-regime-s-banking-expert-credit-institutions-launched-by-those-who-have-political-power-yet-don-t-care-a-bit-about-law"},"modified":"2023-01-17T12:59:13","modified_gmt":"2023-01-17T11:59:13","slug":"iran-regime-s-banking-expert-credit-institutions-launched-by-those-who-have-political-power-yet-don-t-care-a-bit-about-law","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/news\/economy\/iran-regime-s-banking-expert-credit-institutions-launched-by-those-who-have-political-power-yet-don-t-care-a-bit-about-law\/","title":{"rendered":"Iran Regime&#8217;s Banking Expert: Credit Institutions Launched by Those Who Have Political Power yet Don&#8217;t Care a Bit About Law"},"content":{"rendered":"<p><img decoding=\"async\" title=\"79958_813\" class=\" size-full wp-image-49094\" src=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2017\/06\/79958_813.jpg\" alt=\"79958_813\" width=\"480\" height=\"300\" srcset=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2017\/06\/79958_813.jpg 480w, https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2017\/06\/79958_813-300x188.jpg 300w\" sizes=\"(max-width: 480px) 100vw, 480px\" \/><\/p>\n<p>NCRI &#8211;\u00a0An Iranian regime\u2019s banking and financial expert acknowledged in his interview with regime\u2019s news TV channel that owners of credit institutions have political power and special backing, yet don\u2019t care a bit about the law.<\/p>\n<p>\u201cThese (unauthorized) institutions are being run by those who have no scientific, technical, and moral jurisdiction to run such places\u201d, acknowledged Ahmad Hatami-Yazd in his <a href=\"https:\/\/www.ncr-iran.org\/en\/ncri-statements\/iran-protests\/23057-iran-protest-of-investors-spreads\" target=\"_blank\" rel=\"alternate noopener noreferrer\">interview<\/a>, adding\u201dAnd they lacked such qualifications from the beginning. It\u2019s just like a fake doctor whose efforts to treat a patient will only lead to patient\u2019s 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\u2019s why it\u2019s 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\u2019s deposits.\u201d<\/p>\n<p>He then gave more explanations over the Institutions\u2019 predatory policy and political power, saying \u201cthe 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 \u2018Ghavamin\u2019 was actually linked to a number of law enforcement officials. Asked about the Central Bank\u2019s failure to stop the institution\u2019s operation, a bank\u2019s official responded \u201cin that case I have to close the law enforcement force\u2019s door. After all, these are themselves the law enforcement forces, what am I supposed to do with them?\u201d<\/p>\n<p>\u201cThe same story is also true for Mizan credit institution\u201d, the regime\u2019s expert continued, adding \u201cMizan was founded by a number of officials in Mashhad Judiciary, where they\u2019re 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?\u201d<\/p>\n<p>Hatami-Yazd then points to another example, saying \u201cthe 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\u2019t observe the law, and don\u2019t care about it, either.\u201d<\/p>\n<p>To further prove his point, Hatami-Yazd then points to another instance, saying \u201cwhen I was a bank CEO, I was summoned by a Friday Prayer Imam, who said they\u2019d started a loan fund named \u2018Mohammad Rasoulollah\u2019, 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\u2019ve 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NCRI &ndash;&nbsp;An Iranian regime&rsquo;s banking and financial expert acknowledged in his interview with regime&rsquo;s news TV channel that owners of credit institutions have political power and special backing, yet don&rsquo;t [&#8230;]<\/p>\n","protected":false},"author":10,"featured_media":49094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[175],"class_list":{"0":"post-23059","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-updated"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ 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