🔶 The financial supervisory body in Germany revoked the license of the Saderat Bank branch in Hamburg.

🔶 The financial supervisory body in Germany revoked the license of the Saderat Bank branch in Hamburg.

BaFin, the German financial supervisory body, announced on Thursday, October 22, that it revoked the operating license of Saderat Bank Iran's branch in Hamburg and ordered its liquidation; An action that is carried out after sanctions.

Baffin announced that he canceled the activity license of Iran Series Bank in November of last year. According to this body, the decision was made following the violation of the requirements of the law and the failure to correct the deficiencies identified by the supervisory body.

According to the German Financial Supervisory Authority, a court in Hamburg appointed a liquidator for this bank last month (September). Baffin emphasized that as a result of this decision, this financial institution is no longer allowed to carry out banking activities.

According to the data of the "Baffin" organization, the Saderat Bank of Iran branch in Germany has 13 employees and the value of its assets reaches 62.4 million euros (equal to approximately 70.2 million dollars).