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Central Bank of Iran seeks to dismiss Saman Bank’s chief

Iran Materials 1 October 2011 14:59 (UTC +04:00)

Azerbaijan, Baku, Oct. 1 /Trend T.Konyayeva, T.Jafarov/

Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani has today signed an order to dismiss the CEO of the privately owned Saman Bank, Mehr News Agency reported on Saturday.

The bank's press-office told the agency that Vali Zarrabieh still acts as the Saman Bank CEO. "Zarrabieh has not been displaced, as the CBI is not authorized to dismiss the private banks' chiefs," the press-office stressed.

A special committee was earlier established to investigate a $2.8-million fraud scandal, which was described as Iran's biggest case of embezzlement ever. The committee issued an order to displace the heads of Iran's three major banks - Saderat, Melli and Saman.

Last week, 22 suspects were arrested over Bank Saderat's corruption case. The suspects were also accused of converting a letter of credit, issued by Bank Saderat's branch in the Khuzestan province, to cash in Bank Melli's office in Kish.

Bank Saderat is one of Iran's major banks. It contains 3,300 active branches and a share capital of $1.6 billion.

On Friday, Iran's parliament started discussing an issue of taking a decision to impeach Minister of Economy and Finance Shamseddin Hosseini, member of the parliament Mousarza Sarvati said, Fars News Agency reported.

Sarvati said the parliament has obtained new documents related to the last corruption case.

Iranian Bank Saderat, Bank Melli, Tat Bank, the Central Bank of Iran and the Economy Ministry were involved in the financial scandal, he added.

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