Mismanagement at the Industry and Mine Bank led to a 20,000-ton Heavy End shipment becoming an economic-security case.
The release of new documents reveals that part of the resources of the Industry and Mine Bank have been exposed to plunder due to fraudulent operations and lack of effective oversight in this bank.
According to an official letter, a heavy 20,000-ton shipment of Heavy End and the ship TALARA, with incomplete documents and without legal authorization, was ready to leave the country but was stopped by regulatory authorities’ intervention.
This incident once again highlights serious questions about management weaknesses and oversight gaps at the Industry and Mine Bank, a matter that could lead to the formation of a legal case against the bank’s managers.
It is expected that Mahmoud Shayan, the CEO of the bank, will clearly explain how the responsibility for safeguarding the bank’s assets reached such a stage and where exactly he was during the occurrence of this violation and what role he played in the oversight process.
