Basij Investment Fund Will Smother Iran's Economy

As part of our series of reports on the IRGC 's taking control of Iran's industries and economy, following is another example of the implication this organization's take-over has for Iran's internal economy.

The following report once again demonstrates how the IRGC has no limits in penetrating all spheres of industry, as long as this serves its economic goals and policies that strives to takeover everything our country has to offer.

This article will show how the IRGC is using the MEHR fund to take over industry.

We remind both our old and new readers that so far, we have reviewed how the IRGC has taken control over shipping through SADRA Company, and banking through the ANSAR fund.

The above-mentioned affairs indicate that the IRGC does not miss any sector, and regards all spheres worthy of takeover. The strategic direction of the IRGC is evident in that it does not choose to gain control of small financial bodies, but focuses on controlling significant enterprises in Iran's economy that can give the IRGC great influence on our country's various economic sectors.

Another example of this takeover is the Basij's investment fund named 'Mehr', which is defines as a financial welfare body that enables the Basij to provide for its members well being, especially where housing and loans area are concerned.

Although the main purpose of the fund is welfare, it is increasingly involved in Iran's economy. In order to conceal this involvement, the fund is extensively using its subsidiaries and self-owned holding companies that run large-scale business activity in various sectors. Thus, Mehr-owned companies recently bought the control core over the Iranian tractor company.

To comprehend the extent of the fund, it is important to note that it has about 700 branches throughout Iran. The fund is headed by Ahmed Shapizadeh, a veteran IRGC member. In its website, the fund claims to provide assistance in various fields, such as marriage and education, and enables opening saving deposits. The fund invests in Iran's communication and provides assistance to the country's financial sector.

Another example of Mehr's economic ambitions may be seen in its gaining control, after winning (naturally) a tender published in September 2009, over ANGOHRAN copper mines, which are the largest in the Middle East.

In the past year, Mehr has procured production entities and companies in the light and heavy industries. Among them are metal producing TECHNOTAR, MOBARAAKE companies. SINA of the financing and credit sphere, TIDEWATER, which is involved in marine shipping and owns shares in various ports, TOS GOSTAR, AZERBAIJAN

DEVELOPMENT, and SADID INDUSTRIAL GROUP, all heavy industry companies, SADRA, a shipping company that we discussed in our previous report, and JARIBAN, a pharmaceutical company.

In addition, MEHR also procured a vast amount of land in 21 of Iran's districts, in order to construct large plants, and it is also interested in penetrating the energy and water spheres.

Given the above, it is clear that MEHR is not a small enterprise that provides loans and mortgages, but a gigantic entity, in both Iranian and international scales, that is slowly taking over various sectors in Iran, including medicine, ships and ports, shipping, investments and credit financing.

Is Mehr the only manifestation of the IIZGC's predatory behavior? Is the fund only a cover to the IRGC's attempts to takeover Iran's economy? What else is cooking behind the scenes? Is the IRGC destined to takeover everything Iran's economy has to offer? It seems that we all know the answers to these questions.

The appetite of the IRGC is clear from all the information we have exposed in recent weeks, and from our coming reports. The Mehr fund and other similar bodies are only a part of a process, whose end is known in advance. The goal of the IRGC commanders is to continue taking over every part of Iran's economy that is worth having, and to gain as much control possible over Iran, to perpetuate their hold over the regime and foil every opportunity of a change.