World

Iran police disperse angry protesters outside central bank

Iranian newspapers say police dispersed dozens of protesters who had gathered outside the country's central bank in Tehran, demanding their money back from a credit company.

The papers, including the reformist Shargh daily, say Monday's rally was staged by depositors of the Caspian Credit Institute, a government-backed low-interest-rate loan fund now long defunct.

The reports say the protesters chanted "death to (Valiullah) Seif," the governor until they were dispersed. Similar gatherings took place in two other cities.

The Caspian Credit Institute, founded in 1990s as a local low-interest-rate loan fund, attracted thousands of investors by paying higher interest rates but later failed to fulfill its promises. Occasionally, depositors gather for protests.

Hundreds of similar funds are active across Iran but the government has struggled to manage them under banking regulations.