After the Islamic Revolution in Iran, the interest-based banking system was supposed to be replaced with an Islamic banking. Just as Iran's education, health, military and administration have entirely remained westernized, so has its economic system. The rulings of the Shia clergy have been swept under the rug by introduction of the idea of Absolute Guardianship of the Islamic Jurist (In Persian Velâyat-e Faqih) which gives the leader the power to go against the religious rulings if he finds them in conflict with the interest of the holy System. However, since Quran (2:275-280) is very clear on the issue of interest-based banking, all of the major Shia Marja's of Iran have asked the establishment to ban interest based banking.
In April 2018, Ayatollah Javadi Amoli said:
"The Qur'an calls Satan arrogant, but as far as I recall he has not been addressed as warrior against God in the Qur'an. Interest system of our banks is a war against Allah and His Messenger (PBUH). You may name a year as a year of production and prosperity (the Iranian leader named the previous year the Year of Resistant Economy: Production and Employment [1] ), as long as there is interest on loan in banking system, nothing will improve." [2]
In February 2019, Ayatollah Nasir Makarem Sherazi said:
"Banks have created conditions that have made people's lives miserable. Instead of charging people a fixed fine of 4% on loan, they add 4% more to the fine each year, to the point that, at the end of the fifth year of repayment, the fine reaches the peak of 20%. Usury is being done in the name of interest-free-loan." [3]
In September 2018, Ayatollah Noori Hamdani said:
"It has been said many times that the money that our banks charge in the name of fines on the loans is interest and is impermissible. But the rulers either do not hear our voice, or they hear but do not bother to act." [4]
In February 2019, Ayatollah Ja'far Subhani said:
"People take loans from banks and banks charge them interest. Along with this interest, banks also penalize people for delaying repayment. All religious scholars have declared it impermissible. Follow the rulings of the scholars." [5]
In February 2019, Ayatollah Muhammad Alavi Gorgani said:
"Economic conditions are worse these days. In such circumstances, people are not able to even perform their religious duties. In this situation (banks) should not be in a rush to collect interest from the them. We want banks in the Islamic system to be assistant, helpers and servers of the people. Please lower your interest rate a little to reduce the pressure on people. Or at least take interest according to the conditions, for example, when the economic conditions are better, there is no problem in collecting interest money, but when the wheel of the economy slows down, have mercy on the people and charge them less." [6]
In January 2019, Ayatollah Husayn Mazaheri said:
"Unfortunately, taking and giving interest has become a habit. Some people use such excuses under the pretext of Shari'ah. Its like bathing a rat with clean water and then declaring it halal (permissible to eat). Similarly, taking and giving bribes has become an intrinsic part of our system of governance. Usually nothing works out without a bribe. No knot can be untied without a bribe, no file moves without money." [7]
Bank Melli Iran is the first national and commercial retail bank of Iran. It is considered as the largest Iranian company in terms of annual income with a revenue of 364 657 billion Rials in 2016. It is the largest bank in the Islamic world and in the Middle East. By the end of 2016, BMI had a net asset of $76.6 billion and a vast network of 3.328 banking branches; so it is known as the largest Iranian bank based on the amount of assets. The brand of BMI was recognized as one of the 100 top Iranian brands in 10th National Iranian Heroes Championship in 2013. The National Bank has 3328 active branches inside, 14 active branches and 4 sub-stations abroad and it has 180 booths. The first managing director of BMI was Kurt Lindenblatt from Germany. Also, the first foreign branch of BMI was opened in Hamburg, Germany in 1948.
Mohammad Yazdi was an Iranian conservative and principlist cleric who served as the head of Judiciary System of Iran between 1989 and 1999. In 2015, he was elected to lead Iran's Assembly of Experts, defeating Akbar Hashemi Rafsanjani, a former president, by a vote count of 47 to 24.
Grand AyatollahMuhammad Asif Mohseni was an Afghan Twelver Shi'a Marja', widely considered to be the most powerful in Afghanistan. He was the founder of the Islamic Movement of Afghanistan.
Ayatollah Taqi Mesbah, commonly known as Mohammad-Taqi Mesbah-Yazdi was an Iranian Shi'i cleric, philosopher and conservative political theorist who served as the spiritual leader of the Front of Islamic Revolution Stability.
Grand Ayatollah Yousef Saanei was an Iranian Twelver Shi'a Marja' and politician, a member of the Islamic Republic of Iran's powerful Guardian Council from 1980 to 1983 and also Attorney-General of Iran from 1983 to 1985.
Parsian Bank is a major Iranian private bank, headquartered in Tehran, Iran. In addition to traditional banking services, Parsian also offers diversified services such as insurance and car rentals.
Ayatullah Sheikh Muhammad Kazim Khurasani, commonly known as Akhund Khurasani was a Shia jurist and political activist.
Lotfollah Safi Golpaygani was an Iranian Grand Ayatollah. He was at one point the most senior Twelver Shia scholar (Marja') in Iran until his death. He resided in Qom and taught Islam in the Qom Seminary.
Mohammad-Ali Taskhiri was an Iranian cleric and diplomat. During the 1980s, Taskhiri served as the Iranian representative to the Organisation of the Islamic Conference and was involved in promoting Iranian interests during the height of the Iran–Iraq War.
Syed Aqeel-ul-Gharavi also known as Ayatullah Aqeel-ul-Gharavi is a leading Indian Twelver Shia scholar, philosopher, thinker, writer, poet, educationist, community activist, critic and a mujtahid. Presently, Aqeel-ul-Gharavi is acknowledged as one of the most famous and senior Shia scholars from the Indian Subcontinent. He was the principal of Hawza-e-Ilmia Jamia-tus-Saqalain, Delhi and is the current chairman of Safinatul Hidaya Trust, India. He is the vice-President of All India Muslim Majlis-e-Mushawarat and member of All India Muslim Personal Law Board. Syed Aqeel is also a member of the Majma Jahani Ahlulbayt, Iran. Gharavi supervises PhD students at the Aligarh University, India. In addition to all of these, he also serves as patron of Imamia Islamic University, Delhi and secretary of Forum of Philosophers, India.
Abdollah Javadi Amoli is an Iranian Twelver Shi'a Marja. He is a conservative and principlist Iranian politician, philosopher and one of the prominent Islamic scholars of the Hawza. The official website for his scientific foundation, Isra, states that his ideas and views have been guidance to the Islamic Republic of Iran since the 1979 Islamic Revolution, and that "his strategic and enlightening guidance" has been "extremely constructive" during the past three decades. He is known as one of the biggest critics of the banking system in Iran.
Sheikh Fazlollah bin Abbas Mazindarani, also known as Fazlollah Noori, was a twelver Shia Muslim scholar and politician in Qajar Iran during the late 19th and early 20th century and founder of islamist Shi'ism in Iran. Nouri was a financially successful court official responsible for conducting marriages and contracts, he also handled wills of wealthy men and collected religious funds. As a controversial political figure, his political stance was variable according to the prevailing trends of the royal court.
Following the Iranian Revolution, Iran's banking system was transformed to be run on an Islamic interest-free basis. As of 2010 there were seven large government-run commercial banks. As of March 2014, Iran's banking assets made up over a third of the estimated total of Islamic banking assets globally. They totaled 17,344 trillion rials, or US$523 billion at the free market exchange rate, using central bank data, according to Reuters.
Syed Jawad Naqvi is a Pakistani philosopher, scholar, Religious Leader, Quranic interpreter and theologian of Twelver Shia.
On 8 January 2017, Akbar Hashemi Rafsanjani, the fourth President of Iran and the country's Chairman of Expediency Discernment Council, died at the age of 82 after suffering a heart attack. He was transferred unconscious to a hospital in Tajrish, north Tehran. Attempts at cardiopulmonary resuscitation for more than an hour trying to revive him were unsuccessful and he died at 19:30 local time (UTC+3:30).
Ayatollah Mohsen Heidari AleKasir is an Iranian Shia Islamic cleric who was born in 1957 in a middle class rural family in the village of Hor Riyahi Abadi where is located near to Shush in Khuzestan province. He is one of Khuzestan current members in Assembly of Experts.
Seyed Kazem Noor Mofidi is a Supreme Leader's representative in Golestan Province, the leader of congregational Friday prayers of Gorgan, and a member of the Assembly of Experts in Iran. He is considered the oldest Friday prayer leader in the country and the only representative of the reformist Supreme Leader in Iran.
Correspondence between Barack Obama and Ali Khamenei started with direct and confidential letters sent by US President Barack Obama to Iranian leader Ali Khamenei aimed at persuading him to negotiate. Ali Shamkhani, Representative of the Supreme Leader and Secretary of the Supreme National Security Council of Iran, confirmed that his country had responded to some of Barack Obama's letters to the Iranian leader, which focused mainly on the issue of Iran's nuclear program. This was the first time that Iran had confirmed such correspondence with the President of the United States. Earlier, domestic and foreign media reported on Barack Obama's letters to Khamenei, which in one case were confirmed by Hassan Firouzabadi, Chief-of-Staff of the Iranian Armed Forces, as a sign of the US government's realism.
Attack on the Iranian Embassy in London was an incident that took place on Friday, March 9, 2018 by some supporters of Sadiq al-Shirazi affiliated with the Mahdi Servants Union. With the intention of supporting Sadiq al-Shirazi's school and protesting the arrest of Hussein al-Shirazi by the Islamic Republic of Iran, these people entered the premises and balcony of the Iranian Embassy in London, pulled down the Iranian flag and displayed the flag of their own group. The attackers also chanted slogans against the Iranian authorities and cursed Aisha, Abu Bakr, Umar and Uthman. The attack was covered live by some satellite TV channels, including Fadak satellite channel, which is said to be affiliated with Yasser Al-Habib, a Kuwaiti Shia Muslim scholar resident of London.
The Leaders Of The Sedition is a phrase used in the government literature of the Islamic Republic of Iran after the presidential election in 2009 to refer to the reformist leaders who oppose the government, especially Mir-Hossein Mousavi, Mehdi Karroubi, and sometimes Mohammad Khatami. Also, the events and unrest after the 2009 Iranian presidential election have been referred to as "sedition" or "sedition current" in Iran.