Erscheinung:08.10.2021, Stand:updated on 04.11.2021 | Topic Measures Bank Melli Iran, Hamburg Branch: BaFin issues ban on the granting of loans
On 7 September 2021, the Federal Financial Supervisory Authority BaFin issued an order to the Bank Melli Iran, Hamburg 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 German Banking Act (Kreditwesengesetz (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 October 2021.
Update (4.11.2021):
Due to the fact that the institution now complies with the four-eyes principle, BaFin fully lifted the lending prohibition of 7 September 2021 on 4 November 2021.
