Apr 1, 2020, 10:17 PM
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News Code: 83735752
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Bahrain court's ruling against Iranian Al-Mustaqbal Bank lacking legal value: Spox

Tehran, April 1, IRNA – Foreign Ministry spokesman Abbas Mousavi ruled out Bahraini government's verdict against Iran's Al-Mustaqbal Bank and its managers as well as several other Iranian banks and said that the verdicts have been issued based on a fabricated dossier and fake allegations which lack any legal value.

Mousavi reiterated that Iran will never hesitate to defend its citizens' interests and rights.

He also said that the Bahraini government will be responsible for any consequences.

Manama-based Al-Mustaqbal Bank, which was set up in 2004 with the permission of the Bahraini government and with the equal shares of the Iranian Bank Saderat and Bank Melli as well as the country's Al-Ahli Bank, operated under the full supervision of the its Central Bank.

Bahraini government's political and illegal move to seize the bank and its running by the Central Bank in April 30, 2015 prompted the Iranian shareholders to follow up the issue with international court, Mousavi said, noting that under such conditions, issuing verdict by the Judicial system is incomprehensible and can only indicate that the court lacks legal authority, as it merely enforces the orders and decisions of the Bahraini political and security apparatus.

Describing the Bahraini government's move as blatant abuse of the situation resulting from coronavirus outbreak and compliance with US policy of maximum pressure, Mousavi said that the move is aimed at distracting public opinion from the illegal takeover of the bank and undermining international arbitration process regarding Iranian side's lawsuit against the Bahraini government, and the Islamic Republic of Iran categorically rejects it.

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