Valiollah Seif
Valiollah Seif | |
|---|---|
| Born | January 1, 1952 Nahavand, Iran |
| Occupation(s) | Financial executive, professor |
| Years active | 1990–present |
| Known for | Governor of the Central Bank of Iran (2013–2018) |
Valiollah Seif (, born 1 January 1952) is an Iranian financial executive who held the position of governor at the Central Bank of Iran between 2013 and 2018.
Early life
Seif was born in Nahavand and completed both his Bachelor's and Master's degrees at the Petroleum University of Technology (previously known as N.I.O.C. school of Accounting and Finance). He earned a doctorate in Accounting from Allameh Tabatabaei University, where he currently holds a professorship.
Career
Throughout his career, Seif has served as CEO and chairman at multiple Iranian banking institutions, including Mellat Bank (1990–1992), Saderat Bank (1992–1995), Sepah Bank (1995–2000), Bahrain’s Future Bank (2001–2003), and Karafarin Bank (2010–2013). From 2003 until 2007, he was the governor of National Bank of Iran. On 2 September 2013, following nomination by the Central Bank’s board and appointment by President Hassan Rouhani, Seif promoted interest rate hikes as a measure to curb inflation. He presently holds the role of vice president at the International Chamber of Commerce.
Honours
In January 2011, President Mahmoud Ahmadinejad awarded Seif a gold medal recognizing his contributions to Public Relations. The following year, in 2012, he was acknowledged as a steadfast figure within Iran’s banking sector.
Criticisms
While serving as chairman of Bank Saderat Iran in 1995, Seif was criticized due to a significant embezzlement case involving $820 million. His standing was further tarnished in 2017 when a credit institution authorized by the Central Bank defaulted on customer deposits, sparking public demonstrations and demands for his execution.
Legal proceedings against Seif commenced in 2017. After his removal from office in September 2018, he was appointed as an advisor on financial and banking matters to President Rouhani. The judiciary implicated him in legal breaches following the detention of his deputy responsible for currency affairs. In 2021, Tehran Prosecutor General Ali Alqasi Mehr accused Seif of repeated regulatory infractions and neglect of duty that caused financial damages exceeding $30 billion and the loss of 60 tonnes of gold reserves.
Jail sentence
In 2021, Seif received a prison sentence of ten years on charges related to corruption.