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After a wave of revelation of inflated salaries among Iranian banking officials, five top officials of the National Development Fund of Iran (NDFI) resigned.

Chairman of NDFI board of directors Safdar Hosseini and four members resigned during their weekly meeting which was attended by Iran’s President Hassan Rouhani, Tasnim news agency reported July 2.

The action was taken after the presidents of four public banks were laid off earlier this week for inflated salaries that were revealed on social media.

On June 30, Economy Minister Ali Tayyebnia replaced the heads of Mehr Iran, Mellat, Refah, and Saderat banks at President Rouhani’s request because they had received much more money than ordinary Iranians.

Collective resignations are rare in Iran. As a result, the new NDFI move has come as a revolutionary act to many Iranians.

Salary scandal banking officials NDFI