[Translator’s notes appear in square brackets.]

[Personal information has been redacted.]

[The excerpt below is from the section of the article that pertains to the Baha’i Faith]


[Newspaper:] Donya

[Date:] 21 Farvardin 1358 [10 April 1979]


The Decree of Marja’e Taqlid about the Saderat Bank of Iran Due to the Expulsion of Hojabr Yazdani

If Ayatollah Shari’atmadari had not made his explicit comment, the Saderat Bank would not have survived the whirlpool, as charges against this bank were so explicit and clear. All the clergy, for a long time, had spoken in the pulpits against this bank, and had tried to boycott Saderat Bank by ordering those who would listen to them to [withdraw] their chequing and saving accounts. The reason was that Hojabr Yazdani had purchased one billion tumans, worth of shares of this bank, at 20,000 rials per share, whose nominal price was 1,000 rials.

They had forced Hojabr to sell his shares last Favardin [March/April]. Being frightened, he had handed over all his shares to the Central Bank [of Iran] and those shares were traded on the Tehran Stock Exchange and sold. So he did not even own a single share any more.

Nevertheless, people continued [withdrawing] their accounts from the various branches of this bank and avoided conducting any banking transactions through this bank. Finally, they [the bank owners] stretched their begging hands for help towards Ayatollah Shari’atmadari, pleading with him to issue a decree that the Saderat Bank [would no longer] have major shareholders such as Hojabr Yazdani any more, whose religious belief in the Baha’i Faith had prevented the Muslims from banking there.

Ayatollah Shari’atmadari also investigated the matter, and he became assured that Hojabr Yazdani had sold all his shares. Therefore, when he received the following letter [which is attached below] from one of the bank’s customers, he issued a decree about the religious permission for Muslims to conduct banking transactions with the Saderat Bank.


In the Name of God

His Holiness Ayatollah Shari’atmadari

Peace Be Upon You and God’s Mercy and Blessings

Saderat Bank states that its work has been modified and all the shares owned by Hojabr Yazdani have been handed over to the Muslims (including the bank employees and its business customers).

They claim that His Holiness the Ayatollah (i.e. Your Holiness) has also had some interactions with the bank and had issued permission for the Muslims to refer to this bank.  We plead with you to announce your views on this subject. May God perpetuate your shadows over the head of all the people.

Signature of the bank customer


In the Name of God

Yes. As it has been reported, the person that has been referred to, has handed over his bank shares and the bad is removed. Now, the Muslims can have their legal transactions with Saderat Bank.

May God-Almighty grant the Islam and the Muslims, strength and blessings.  

Sayyed Kazem Shari’atmadari.