Exodus of capital triggered by fearful regime officials

March 8, 2011

Iranian regime officials are transferring large sums of money outside the country amid fears about the regime’s stability, a French newspaper reported on Wednesday.

Les Echo, which reports on economic developments, underlined growing  anxiety within the regime about its future, saying, “Officials started transferring their assets to foreign banks in mid-January, a trend that only accelerated in February.”

The daily added, “The assets, worth over tens or hundreds of millions of dollars, have been wired not to western banks but mostly to Asian financial institutions in Turkey, Malaysia, Indonesia, Pakistan, Turkmenistan, and Bangladesh.”

According to Les Echo, Turkish banks have confirmed a case where over $180 million has been transferred to the country. A Malaysian bank has also confirmed the transfer of more than $220 million by regime officials.

“Some portions of the (ruling) fundamentalist faction in the regime are also mulling ways to reroute their assets to China,” the report added.

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