Protesters near Iran’s central bank demanding resignation of the bank’s governor. June 14, 2020. (Social Media)

 January 23, 2021

According to a state-run daily the more than two million Iranian stock market investors who lost their savings in the stock market will “riot” if their demands are not met.

Jahan-e-Sanat daily warned that in order to prevent protests the executive official responsible for the stock market must resign.

Another state-run daily, cited the political interference in Iran’s stock market, and said yesterday only people certain “information” would be able to take advantage of the “political” market.

The daily wrote that a quick glance at the stock market trend from the beginning of the year shows interference which initially led to stocks soaring and then plunging very quickly.

“After certain interactions, institutional investors lined up to buy stocks. It was as if they knew the stocks had an expiration date and wanted run away with their profits. The current protests are a desperate measure. Those who have lost (their savings) and cannot do anything. Their investments are gone”, the report said adding that no court would be willing to issue an indictment for the culprits.

The report indirectly cited the Iranian government and wrote “those who planned for the big profits and compensation for their deficits” are neglecting Iranian stock market investors who are reeling from their losses.

In the past 2 weeks, Iranian stock market investors held large gatherings outside the Securities and Exchange Organization to demand their lost money. Despite the peaceful nature of the protests, videos on January 19 showed police trying to violently arrest protesters. Other protesters cried out for the police to let them go and prevented the arrests.  

Jan. 19- Tehran, #Iran
Police try to arrest stock market investors who were protesting outside the Securities & Exchange Org. to demand their money. The protesters say “leave him alone” and help other protesters escape from the police. #IranPolice— Iran News Wire (@IranNW) January 19, 2021

Protesters chanted against Rouhani and his administration calling them dishonorable, liars and thieves.

Jan. 18 – Tehran, #Iran
More footage from today’s #IranProtests by angry stock market investors who are pulling down the flag of the Securities & Exchange Organization. They say the regime misled them into investing in stocks which have seen major losses.— Iran News Wire (@IranNW) January 18, 2021

Stock market investors hold signs that say:
“Dishonarable= Rouhani GOV.
Liar= Rouhani GOV.
Swindler= Rouhani GOV.”
“They stole our money in broad daylight.”
“Thieving government encouraged the people to invest in stocks to steal their money”. #IranProtests— Iran News Wire (@IranNW) January 18, 2021

Iranian stock market investors also held several protests for consecutive days in November 2020 to demand their lost savings.

On January 17, Iran’s Deputy Speaker of Parliament said the government had taken advantage of the country’s stock market which has been mostly in the red for the past few days.

“The government has been inadequate, has had misconducts and has taken advantage of the stock market,” Amir Hossein Ghazizadeh said in comments carried by the state-run Mehr News Agency.

In comments carried by the IRGC affiliated Tasnim News Agency on October 20, 2020 Minister of Finance Dejpasand implied that the government used the stock market to compensate for its budget deficit.

“I would like to inform you that fortunately, as a result of the measures devised by the government, in the last six months, we have been able to make up for the shortfall of our resources from the sale of securities and the transfer of shares of state-owned companies.”

In an October 3, 2020 article, the state-run Aftab-Yazd daily also stated that Iran used the stock market to make up for its deficits.

Two days ago, on January 19, Hassan Ghalibaf Asl, the CEO of Tehran’s Stock Exchange resigned.


About Track Persia

Track PersiaTrack Persia is a Platform run by dedicated analysts who spend much of their time researching the Middle East, in due process we fall upon many indications of growing expansionary ambitions on the part of Iran in the MENA region and the wider Islamic world. These ambitions commonly increase tensions and undermine stability.