How an Iranian bank collapse fueled economic unrest, drove thousands to protest: report

Business

An Iranian bank collapse late last year fueled the economic crisis that drove thousands to protest across dozens of cities over the past two weeks — threatening the Islamic Republic’s control. Ayandeh Bank — which was run by regime cronies — went belly up with nearly $5 billion in losses on a pile of bad loans, according to a Wall Street Journal report . It had offered the highest interest rates of any bank in Iran and drew in millions of depositors — but it relied heavily on the government to

Tag-uri: Islam

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