Germany Revokes Operating License for Iran’s Bank Saderat Hamburg Branch

According to the International Desk of Webangah News Agency, based on data published by the Mehr News Agency, citing Al-Nahar, Germany‘s financial supervisory authority announced on Thursday that it has revoked the operating license for the Hamburg branch of Bank Saderat Iran and ordered its dissolution.

The authority added that the revocation of the license means the institution is no longer permitted to conduct banking activities. It was claimed that this decision was made within the framework of supervisory measures against Iranian banks operating in Germany.

The authority further stated that a court in Hamburg appointed an administrator last month to oversee the bank’s affairs. This action was taken as part of legal proceedings to terminate the institution’s operations.