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2 clusters · 4 sources · 6 days · First seen · Last updated

International regulatory actions against Bank Saderat Iran

Overview

Bank Saderat Iran has faced consecutive license revocations in Lebanon and Germany. In Lebanon, the central bank revoked the institution’s operating license to protect the domestic banking sector from contamination risks and potential U.S. sanctions. Central Bank Governor Karim Souaid noted the move aims to address money-laundering concerns and assist Lebanon in removing itself from the Financial Action Task Force (FATF) gray list.

Following this, Germany’s financial regulator, BaFin, revoked the license of the bank’s Hamburg branch and ordered its liquidation. This decision was based on long-standing regulatory issues and unrectified organizational deficiencies identified in a 2023 audit. The German action follows a pattern of international pressure, including similar moves in Lebanon and indications from the United Kingdom that it will reject new license applications from Iranian banks subject to U.S. sanctions.

Entities

Bank Saderat Iran · BaFin · FUW Treuhand Projekt Management GmbH · Hezbollah · Germany

Timeline

  1. [BUSINESS] 2 sources
    BaFin revokes license of Bank Saderat Iran in Germany

    Germany's BaFin has revoked the license of Bank Saderat Iran's Hamburg branch and ordered liquidation due to regulatory violations and sanctions.

  2. [INTERNATIONAL] 2 sources
    Lebanon’s Central Bank revokes Bank Saderat Iran license

    Lebanon’s central bank has revoked Bank Saderat Iran’s license following U.S. pressure to sever financial ties linked to Hezbollah.

Sources

diebewertung.de · europesays.com · ocafezinho.com · world-today-news.com