Iran’s former central bank governor on Monday accused the government of Mahmoud Ahmadi-Nejad of “looting” the bank’s assets, exploiting people’s deposits and not being determined to curb inflation.

Tahmasb Mazaheri, dismissed last month following his refusal to carry out the government’s populist monetary policies, lashed out at the forceful measures imposed on banks to give loans to the poor and finance short-term employment projects that were not economically justifiable. “What is being looted is the central bank asset ... it is from the pocket of all people,” Mr Mazaheri said in his farewell speech in the presence of Iran’s president.