In Tehran’s more exclusive neighbourhoods, branches of new “privately owned” banks seek to outdo each other as they display placards proclaiming that they will open soon.
“More bank branches than grocery stores!” reads a headline in Tabnak, a conservative news website.
The new banks include Ansar and Mehr, both affiliated to the Basij militia, the voluntary arm of the elite Revolutionary Guards, according to a conservative newspaper. It says that Shahr, another new bank, is linked to the municipality of Tehran, while Hekmat Iranian has ties to the army and shareholders of Day are family members of martyrs in the Iran-Iraq war.
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