The Guild was formed in 1979 by industrialists and bazaar businessmen opposed to the regime. Many of its non-public members continue their activities in Iran. Over the years, they have played an important role in providing financial backing for the Resistance. The Khomeini regime executed a number of the Guild's members in the mid-1980s for giving financial aid to the Resistance. The bazaar is crucial to the Iranian economy, and their opposition to the Shah in the final years of his rule was instrumental in his fall. Ibrahim Mazandarani is the representative of the Guild in the NCR. He is a well known businessman and was a political prisoner under the Shah.