Yesterday, we were witness to a humiliating drama when the Executive Authority convoked the head of the State Shoura Council to the Presidential palace and played the role of an arbitrary judge superseding the Judiciary, thus striking at the Judiciary and damaging its prestige.
The Depositors’ Union strongly denounces the transformation of the Executive Authority into an Arbitration Board that hears disputes above and beyond all legal considerations and judicial references while striking down constitutional principles, in particular, the principle of separation of powers.
Although we are not surprised by the blatant interference of the pillars of authority in the work of the Judiciary and its convocations to impose the circulars issued by the Governor of the Central Bank, nevertheless, we question how the judicial body headed by the State Shoura council can accept this indignity.
The Central Bank Governor has exploited the regime’s tolerance of him to project himself as the custodian of the national currency and depositors’ interests while in reality, he has been burdening depositors with the cost of the crisis through his policy of arbitrary and illegal circular issuance.
The Depositors’ Union addresses the State Consultative Council, its President and members, and appeals to their professional conscience and their strong willingness to implement the law and restore the tarnished image of the Judiciary. They can achieve this by not reversing the decision issued to stop the malpractice of circular heresy but instead confirm it and oblige banks to return deposits as are in accordance with the law.
Stop the clowning around and tyranny of the Junta at the doorstep of your Assembly and speak the truth that renders justice to depositors in the face of wrongdoings imposed by the banks and the Central Bank.