18 days protesting in streets and credit house still shuttered!


This grainy mobile phone footage shot by an unidentified Iranian woman shows a few of the desperate savers who lost all their money when the Caspian Credit Institute, despite being underwritten by the Central Bank, recently declared bankruptcy, sleeping outside a branch of the state-owned finance house in protest at their shoddy treatment.

After months of staging fruitless daily protests in an effort to recover their money or get some compensation from the finance house, which is one of many state-backed credit institutes to have declared insolvency in the past few months despairing customers, some of whom lost their life savings, are now sleeping outside the Caspian Credit Institute’s former headquarters as part of a continuous protest now in its fourth week in an effort to shame the directors and management personnel into taking action to compensate them. The only reaction from the regime has been to send security personnel to assault the protesters, who have been subjected to continuous threats, beatings, and verbal and physical abuse.

The woman filming this footage says, “Now it is 5:00 a.m. in the dawn hours of Wednesday, October 4th, the 18th day of a sit-in by savers in front of the state-run legalized Caspian Credit Institution, which operated deceitfully under the license of the Central Bank. We have now begun the 18th day and our sit-ins will continue until we receive all the interest and profits from what we lost during these past 10 months. Please, friends, take this sit-in seriously.”