MEK Network- Iran: Looted Credit Institution Customers Protest
Clients of the Caspian Credit Institution protested once again on Monday and demanded the return of their savings. The protesters gathered in front of the office of the judiciary in Rasht, northern Iran and chanted, “Caspian committed theft with the government’s support!” and “The money you hold is everything we have!”
Protesters at the rally said they were there because the government-backed institution destroyed their lives. They blamed government officials for lying to them for two years and for making promises they could not keep. The MEK network shared videos on social media of the protest.
Clients of the Caspian credit firm (linked to the IRGC) demanding their stolen savings be returned.
— People's Mojahedin Organization of Iran (PMOI/MEK) (@Mojahedineng) November 19, 2018
The Caspian Credit Institution, which is affiliated with the IRGC, is recognized and authorized as a financial institution by the Central Bank of Iran. Thousands of Iranians deposited their savings into the Caspian Credit Institution, only to lose all of their investments when the institution filed for bankruptcy last year.
Meanwhile in Mashhad, customers of another financial institution—Badr Toos—protested the looting of their savings. Badr Toos also has ties to the IRGC. The protesters in Mashhad demanded the return of their deposits.
Caspian and Badr Toos are among several credit institutions with ties to the regime that have looted the savings accounts of Iranian citizens. This looting has been catastrophic for Iran’s middle-class, but regime officials and people affiliated with them have profited from the theft.
Protests by looted credit institution customers have become common in Iran over the past year. Protesters demonstrate despite the threat of violence by suppressive forces. As the Resistance Movement has grown, the Iranian people have become more willing to protest in spite of the regime’s brutality and repressive measures.