Oct. 31 – One of Iran’s largest private banks has declared bankruptcy, following years of mismanagement and opaque lending practices which led to losses of almost $5.2 billion and an estimated $2.9 billion in liabilities.
Ayandeh bank, whose assets have been transferred to the state owned Melli Bank, is one of six banks in Iran experiencing financial difficulties.
The bankruptcy comes as Iran faces its worst round of penalties in recent years, following the re-imposition of international sanctions.
Evidence online that the Islamic Revolutionary Guards Corps has been linked to the Polisario Front, a movement aligned with Western Sahara seeking independence from Morocco, was discussed during a debate in the U.K. House of Lords.
Peers in the House described concerns that the Islamic Republic of Iran could be trying to destabilize the region, as part of a wider effort to disrupt western engagement around the world.
The Islamic Republic has been repeatedly accused by states of engaging in malign activity across several continents to destabilize regions for its own benefit.
And the son of detained British national Lindsey Foreman said a court hearing in Iran for his mother and her partner Craig Foreman “did not go well” after a first hearing during which the couple were told they would receive a verdict in the coming days.
Joe Bennett said the second hearing did not include the handing down of a verdict, following a conversation with his mother, whom he said was losing hope.
The Foremans were accused of spying by the Islamic Republic and detained while in Iran in January. The Foremans have denied the charges.
