The Bahá'í Children's Savings Company, known in Iran as Shirkat-i Nawnahalan, began as a savings bank for Bahá'í children in 1917. As successive generations of Bahá'í children grew up, they kept their savings–primarily intended for their future educations–with the company, and local and national Bahá'í institutions also placed their deposit funds there. The Iranian government raided and took over the offices of this company in early June of 1979, freezing and then confiscating all of its assets, estimated at $5 million—literally stealing money from children. [Bahá'í Teachings 4 Oct 2012]