Germany Revokes Bank Saderat License
Germany financial regulator BaFin has revoked the banking license of Bank Saderat Iran in Hamburg and ordered its liquidation following sanctions. The branch with 62.4 million euros in assets is no longer permitted to conduct business.
Germany's financial regulator revoked the operating license of Bank Saderat Iran's Hamburg branch on Thursday morning, ordering the liquidation of €62.4 million in assets. The shutdown follows ongoing sanctions enforcement targeting financial institutions linked to Iran. The move marks the second closure of an Iranian bank branch in the country within two months.
