Judicial Official: CEO of Refah Bank Appointed at the Insistence of Rouhani's Associates

Nasser Saraj, head of the General Inspection Organization of the country, says that the CEO of Refah Kargaran Bank, whose name appeared on the list of recipients of unconventional salaries, was appointed at the insistence of one of Hassan Rouhani's close associates, the President of Iran. According to Fars News Agency, Mr. Saraj stated on the sidelines of a nationwide judiciary conference that Ali Sedghi, before Refah Kargaran Bank, was the CEO of Bank Melli Iran and had a heavy case in the prosecutor's office due to his violations there. Mr. Saraj claims that when he was introduced for the presidency of Refah Bank, his presence was opposed due to this heavy case, but he was appointed to this position at the insistence and insistence of one of the President's close associates. Previously, principlist media, including Kayhan newspaper, had accused the CEO of Refah Bank of having established a partnership with three individuals, including Hossein Fereydoun, the brother of the Iranian President, to create a company for currency and coin exchange. Principlist media also reported that Ali Sedghi was appointed as the CEO of Refah Bank with the support of Hossein Fereydoun. However, Mr. Sedghi responded to these reports by stating that this exchange office was established in 2011 and closed after two years of operation 'because it did not have the capacity and high capital,' but 'today some who want to confront the government have used it as an excuse.' Ali Sedghi managed Bank Melli from 2006 to 2009 and then headed the board of directors of Noor Financial and Credit Institution. After Noor Credit Institution, he replaced Mohammad Reza Nazari, the former CEO of Refah Bank, on June 1, 2015. In Mr. Sedghi's introduction meeting, Ali Rabiei, the Minister of Labor and Cooperation, and Taghi Nourbakhsh, the CEO of the Social Security Organization, were also present. The Noor Financial and Credit Institution, which Ali Sedghi headed before Refah Bank, was formed by merging three financial institutions: Karsazan Ayandeh, Reyhaneh Gostar Meshiz, and Pishgaman. It faced rumors of bankruptcy in 2014, leading many people in Darab County to rush to the institution and close their accounts. At that time, it was suggested that Noor Institution was connected to the Padeh Shandiz institution, claims that were denied by the institution's caretaker and the judiciary's announcement. Additionally, the Central Bank of Iran once warned in 2012 about investing in Karsazan Ayandeh Institution, stating that this institution did not fulfill its advertising promises and used people's money for investments in Arab countries and Singapore. Ali Sedghi was one of the names revealed during the disclosure of government managers' salaries in media close to principlist factions. These media claimed that Mr. Sedghi received nearly 240 million tomans in benefits and bonuses in the last twenty days of 2015. After these reports were published, Hassan Rouhani instructed his first vice president to investigate. In a meeting between the government delegation and Ayatollah Khamenei on July 23, the Iranian leader referred to unconventional salaries and criticized them. After this meeting, it was announced that Ali Sedghi had been dismissed and it was claimed that he returned 240 million tomans from his salary and benefits. However, Mr. Sedghi has denied both the news of his dismissal and his salary slip. The General Inspection Organization of the country is a security body and a subsidiary of the judiciary.