Erscheinung:18.03.2019, Stand:updated on 29.03.2019 | Topic Measures National Bank of Pakistan, Frankfurt am Main Branch: BaFin issues ban on the granting of loans
On 6 February 2019, the Federal Financial Supervisory Authority BaFin issued an order to the National Bank of Pakistan, Frankfurt Branch, prohibiting the institution from granting loans.
BaFin had identified contraventions of the requirements for proper business organisation within the meaning of section 25a (1) of the KWG caused by the infringement of the four-eyes principle under section 33 (1) no. 5 of the KWG. The basis for the administrative order is section 45b (1) no. 3 of the KWG in conjunction with section 19 (1) of the KWG.
The order became final on 7 March 2019.
Due to the fact that the institution now complies with the four-eyes principle, BaFin fully lifted the lending prohibition of 6 February 2019 on 21 March 2019.
