Who says Iran economic crisis will be resolved?

Protests continue to grow across Iran over the spiraling economic crisis as more banks and credit houses declare themselves insolvent, leaving many savers who entrusted their life savings to the state-backed institutions penniless. Angry former customers of one such institution, the Alborz Credit Development Institute gathered outside the Central Organization of Rural Cooperatives in Tehran on Monday (April 30) to demand restitution after being left impoverished when the organization closed without any notice, failing to provide any compensation.

The protesters, including large numbers of women, blew whistles and chanted slogans like “Our savings have been stolen and looted” to draw attention to their plight, with many carrying placards and banners, including one banner saying simply, “Our money is our right.”

Although the crowds were surrounded by intimidating, heavily-armed anti-riot police, they refused to disperse, throwing objects at the organization’s office building to express their anger.

Elsewhere in the Iranian capital on the same day, former customers of another recently dissolved credit institution, the Arman Vahdat Credit Institute, gathered outside its head office to protest against the theft of their money, in many cases their life savings, with protesters chanting “The bankrupt nation sits on our money.”

In a third protest on the same day, this one in the city of Aligudarz in Lorestan Province, Western Iran, a crowd of disgruntled customers of the Melal Credit Union held a protest outside the finance house’s head office, with the management responding by closing the office.