Wednesday, May 22, 2024

No Legal Verdict against Iranian Banks in Bahrain: CBI Official

An official at the Central Bank of Iran (CBI) has dismissed reports about a formal verdict being delivered against Iranian banks in Bahrain, saying any such ruling would lack legal credibility.

In comments on Saturday, director-general of CBI’s Legal Affairs Department rejected reports that Bahraini courts have issued rulings against a number of Iranian banks.

Morteza E’tebari said none of the Iranian banks, including the Central Bank, has received any ruling from the Bahraini courts that would contain information on the subject of the case, the allegations, the defendant, or the name of a judicial authority working on the case.

Any verdict issued against the Iranian banks would be a fabricated and political ruling that lacks legal credibility, he noted, saying such decision would be inadmissible because of ignoring the right to judicial defense processes.

E’tebari made it clear that any executive action on the basis of the unfounded rulings would be deemed null and void, saying Iran will give the appropriate legal response at the proper time as soon as it receives any court ruling.

The CBI official then denounced the Bahraini government’s ruling against Future Bank and its managers, saying the rulings are based upon bogus charges and fabricated cases without going through legal procedures.

“The Bahraini government’s measure is a support for the US government’s maximum pressures (against Iran) and is aimed at diverting the public opinion from that country’s illegal move to confiscate the Bank (Future Bank) unlawfully,” he noted.

In a statement in April, Iran’s Foreign Ministry rejected the Bahraini government’s rulings against Future Bank and its managers and against a number of other Iranian banks, saying, “The rulings have been issued on the basis of a fabricated case, and the bogus accusations against the convicts in the case lack any legal value and bear the Bahraini government’s responsibility for their consequences. Needless to say, Iran will not hesitate to defend the interests and rights of its nationals.”

“Future Bank was founded in 2004 at the suggestion and with the permission of the Bahraini government as a joint venture among Iran’s Melli Bank and Saderat Bank as well as Bahrain’s Ahli United Bank, and, from the outset, that country’s (Bahrain’s) Central Bank has been constantly and continually monitoring the banking activities and transactions through its supervisory sections and its representatives in Future Bank’s board of directors,” the Foreign Ministry spokesperson said on April 1.

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