Tehran, Iran – Sometime last week, Iran carry one big wahala enter their banking system as dem merge Ayandeh Bank wey be one of the largest private lenders, with Bank Melli, wey be the biggest government bank. E no dey sweet at all for average citizens as dis move dey show how the economy don dey shake well-well.
Central bank talk say dem go dissolve Ayandeh Bank, wey dem link to one of the richest family for Iran. The branches around Iran go turn to Bank Melli branches by Sunday come, and dem dey assure people say their accounts and deposits dey safe. But make we no forget say years of shoddy operations and central bank intervention don put Ayandeh under wata, so this bailout go cost ordinary Iranians plenty.
Ayandeh Bank start for 2013 after dem merge two state-linked financial entities, but since then na wahala dem dey face. People don fall victim for unauthorised lenders wey offer high interest rates and no fit pay back the deposits. Many go dey remember how hundreds of unlicensed entities flourish during the 2010s while Iran dey face UN sanctions.
Fast forward to today, Ayandeh Bank dey owe about 5 quadrillion rials ($4.67 billion). The bank don chop money from the central bank before, but last week, dem suddenly force dem to close down. This wahala don raise concern say na typical example of ‘who catch who’ for Iran’s banking system.
Experts don dey talk say other banks dey face similar financial imbalances, and Ayandeh just carry the blame for the larger picture—how corruption and poor governance dey scatter the banking sector. Say, for example, Ayandeh alone dey responsible for 42% of all overdrafts from central bank. How na?
As dis whole thing dey happen, Iranians wey no get am easy don come online dey scatter the internet with reactions over the Ayandeh bankruptcy. Some don demand say make dem publish names of those wey dey trek with all the looted money. Pedram Soltani, one private businessman, don dey shout make dem take accountability for dis level of negligence.
Without any concrete actions to hold those wey dey run di bank accountable, e dey clear say di average Iranian go dey feel di heat for long. Prices don dey soar already, and with inflation wey dey chop into people pockets, it no go take long before citizens go start to dey feel am for their everyday spending. Just wait, e be like say dem go need to start taking palm wine directly from di tap, no more small-small sips!
So, as dem dey move Ayandeh assets to Bank Melli, e no get clear answer yet on how much people go benefit or how this go help their lives. Na only time go tell how this new banking structure go fair for everybody.
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