Iranian central bank announces takeover of militia-owned banks

INVOLVED IN THIS ARTICLE:

Central Bank of Iran

Central Bank of Iran

Sepah Bank

Sepah Bank

Melli Investment Holding International

Melli Investment Holding International

Brigadier General Qassam Soleimani

Brigadier General Qassam Soleimani

Iran’s central bank governor has announced that two commercial banks owned by a paramilitary organisation will merge with a state-owned lender.

Central Bank of Iran governor Abdolnaser Hemmati said in a statement in Farsi on May 25 that Sepah Bank would take over two other lenders – Mehr Eghtesad Bank and Hekmat Iranian Bank. Both banks are owned by the “Basij”, a militia used for internal security purposes by Iran’s Islamist regime.

The Basij are under the control of the powerful Iranian.

Source » centralbanking

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