Iran’s central bank has declared Ayandeh Bank bankrupt and transferred its assets to the state-owned Bank Melli, in a rare move within the country’s heavily sanctioned economy.
Bank Melli announced on Saturday that the full transition is complete and reassured former Ayandeh clients that their deposits are safe and accessible © Mena Today
Iran’s central bank has declared Ayandeh Bank bankrupt and transferred its assets to the state-owned Bank Melli, in a rare move within the country’s heavily sanctioned economy.
Founded in 2012, Ayandeh — meaning "future" in Persian — operated over 270 branches nationwide, including 150 in Tehran. According to state media, the bank faced losses exceeding 4.5 billion euros and a debt shortfall of approximately 2.5 billion euros.
Bank Melli announced on Saturday that the full transition is complete and reassured former Ayandeh clients that their deposits are safe and accessible.
“We are proud to welcome you to the Bank Melli family,” the bank said in a message to former Ayandeh customers.
Long queues were seen outside former Ayandeh branches in Tehran, with police deployed to maintain order. Economy Minister Ali Madanizadeh urged calm, stating that depositors have “nothing to worry about.”
Qatar said mediators were making progress in efforts to end the U.S.-Iran war on Tuesday, driving oil prices lower, although Tehran has denied President Donald Trump's assertion that talks are already under way.
Saudi oil giant Aramco announced Tuesday a 44% surge in net profit for the second quarter compared to the same period last year, driven by soaring crude prices amid the war in the Middle East.
Iran is betting it can outlast Washington by turning the Middle East's trade routes, shipping lanes and energy infrastructure into pressure points that steadily raise the cost of confrontation, according to Gulf officials and analysts.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.