Amanze Chinonye
Widespread disruptions have affected two of Iran’s largest financial institutions, leaving customers across the country unable to access online banking platforms, mobile applications and some electronic payment services.
Customers of Bank Sepah and Bank Melli Iran began reporting problems early Wednesday, with many saying they could not log into their accounts or complete transactions through digital channels.
According to reports carried by regional media, the outages disrupted internet banking systems, mobile apps and some ATM operations. In several cases, bank staff were also reportedly unable to process transactions normally because internal systems were temporarily offline.
Join our WhatsApp ChannelIranian authorities have yet to provide a detailed explanation for the disruption. Officials from the Central Bank of the Islamic Republic of Iran have not issued a comprehensive public statement clarifying the cause of the outage or providing a timeline for when full services will be restored.
Initial reports from Iranian outlets indicate that technical teams are investigating the incident while working to restore affected systems. Authorities have reportedly dismissed suggestions that the outage resulted from a cyberattack, although the precise cause of the disruption has not been confirmed.
The simultaneous disruption has drawn attention because of the central role both institutions play in Iran’s financial system.
Bank Melli Iran is the country’s largest state-owned commercial bank and provides services to millions of retail customers, including government workers and businesses.
Bank Sepah, one of Iran’s oldest banks, has historically handled financial operations linked to state institutions and has been subject to international sanctions.
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Financial analysts say extended outages affecting major banks could disrupt routine transactions, salary payments and commercial activities if services are not restored quickly.
There is currently no verified evidence that authorities have frozen or seized customer deposits. Claims circulating on social media suggesting that accounts have been confiscated have not been confirmed by bank officials or independent financial authorities.
Iran’s banking infrastructure has previously faced cyber-related disruptions, with hacking groups claiming responsibility for attacks on financial systems in past years. However, no credible claim of responsibility has been made in connection with the current outages.
For now, customers across Iran continue to experience limited access to digital banking services as officials investigate the cause of the disruption and work to restore normal operations.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
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