Massive demonstrations, organized by depositors of funds in the Iranian Revolutionary Guard Corps (IRGC)'s financial institutions, have erupted in Iranian cities, a number of videos, obtained by The Baghdad Post, revealed on Tuesday.
In the videos, angry protesters have staged demonstrations in front of Central Bank of Iran (CBI) in Tehran due to the bankruptcy of Samen Alhojaj, Caspian financials, Arman and other financial institutions that have plundered the money of Iranian depositors.
As a reflection of deteriorating financial and economic conditions in Iran, many of the country's banks have recently declared their bankruptcy and others are on the verge of doing so.
This has infuriated depositors who wanted to recover their funds from these institutions.
Despite signs of strong growth last year, Iran's ailing banking system is slow to recover.
Last year, 12 Iranian banks have gone bankrupt due to offering high interest rates on deposits and maladministration of banks.