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9 years ago|1.8K views

Iran's Bank Melli CEO resigns over loan scam

The biggest bank loan scandal in Iran's history has claimed its first victims. The 2.8 billion dollar scam involved state-owned and private banks, which reportedly used false documents to secure credit for private entities. As a consequence, Mahmoud Reza Khaavari, the CEO of Bank Melli, had to resign, followed by the dismissal of Mohammad Jahromi, the CEO of Bank Saderat. But experts say more needs to be done.
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