Hundreds of Ahwazi people in Iran held a demonstration outside the shuttered offices of the Caspian Financial Institute in the eponymous regional capital, Ahwaz, on Sunday October 8, to demand compensation after the finance house went into liquidation a few months ago owing billions of Tomans to savers across Iran, leaving many destitute, with a large number of people losing their life savings. As usual, regime security forces have responded by attacking the wronged protesters while protecting the bank.
At the demonstration on Sunday evening, one of the frustrated protesters expressed their anger at the bankrupt finance house by writing “Den of Thieves” in large letters on the door of the shuttered bank. The protesters also chanted “incompetent and dishonor officials stayed silent”.
Sunday evening’s protest was only the latest in months of demonstrations by distraught and angry bank customers of the Caspian and other finance houses which have gone into receivership, despite supposedly being guaranteed by the country’s leadership, without providing any warning, or offering any compensation to the savers. The Credit and Finance Institutes or CFIs have mushroomed across Iran in recent years, offering excellent interest rates of between 18 and 20 percent to savers, and over 25 percent to loan applicants.
The demonstrators on Sunday evening strongly condemned what they said was the regime’s callous, irresponsible and morally bankrupt policy of deliberate impoverishment and starvation of the Arab people of Ahwaz, with the closure of the finance houses just the latest disastrous misfortune in a litany of injustices against the long-suffering Ahwazi people.
The bankruptcies have seen widespread protests across Ahwaz and other regions of Iran, with many seeing it as another instance of regime corruption and theft of the people’s wealth.
Another of the finance houses which recently declared bankruptcy is the Arman Financial Institution, with protesters in Ahwaz and across Iran organizing demonstrations outside shuttered branches of the bank, demanding compensation and urgent resolution of their problems and insisting that the institute’s backers should return their savings and deposits immediately.