Muslim countries outside of Iran fearing the regime's collapse

IranPressNews.com

In July 2009, given deep concerns about the regime's collapse, dozens of senior conservative establishment officials started to smuggle money held in Iran's large banks: Melli, Melat, Sepah and Saderat, to banks in Muslim countries outside Iran. These are the private assets of senior conservative establishment officials, including senior officials in the regime's economic institutions. seniors in the central bank in Iran and the heads of the charity and assistance funds, which are directly subordinate to the leader's office and are not under public scrutiny.

Among these foundations are: The Foundation of the Oppressed and War Disabled", "The Martyrs' Foundation", "Emam Khomeini Relief Foundation" and "The 15 Khordad Foundation". (However, not all the heads of the above-mentioned foundations smuggled money, only few of them. According to the source: "one of the head of the Foundations is deeply involved").

The money transferred is estimated at tens of millions of dollars. So far, it crane up that the money was transferred to banks in the following countries: Turkey, Malaysia, Pakistan, Dubai, Algeria and Indonesia. These countries were chosen because they are 'convenient' countries for Iranian economic activity, and the Central Bank of Iran and senior Iranian economic officials have tight relations with many banks in these areas. These countries have provided a 'financial security network' over the past two years, as a solution for circumventing economic sanctions and the difficulties Iran is facing in international banking. They are therefore 'convenient' locations for transferring funds more easily.

According to financial sources close to the conservative establishment, 4 million dollars have so far been transferred to Turkey, to the Turkish bank Asya Katilim Bankasi AS aka Bank Asya. In this connection, it is of note that as early as late 2007 the Melli Bank branch in London persuaded the Turkish bank branch in London to continue providing financial services to Melli Banks in GBP, despite the economic policy of the rest of Europe on this issue.

According to those sources, another 7 million dollars were transferred to Malaysia, to Malaysian Exim Bank from Sepah Bank. It is of note that about two years ago, the Malaysian bank agreed to work with the Sepah Bank in order to bypass the sanctions imposed on Sepah following UN Security Council resolution 1747.

We have no information on the names of the other banks and the amount of money transferred to them. In addition, it was learnt that other senior conservative establishment officials are currently considering transferring some of the money to non-Muslim countries in the South East Asia such as China and Hong Kong. These countries are also known to have good ties with the Central Bank of Iran (CBI) and are still keeping on extensive financial activity with Iran.