Bank Melli Iran is based in Hamburg, Germany. (Getty)

October 08, 2021

German finance regulator BaFin said on Friday it had banned a Hamburg-based branch of Bank Melli Iran from issuing loans, citing infringements of transparency rules.

“BaFin had identified contraventions of the requirements for proper business organisation within the meaning of section 25a (1) of the German Banking Act caused by infringement of the four-eyes principle,” BaFin said in a statement.


About Track Persia

Track PersiaTrack Persia is a Platform run by dedicated analysts who spend much of their time researching the Middle East, in due process we fall upon many indications of growing expansionary ambitions on the part of Iran in the MENA region and the wider Islamic world. These ambitions commonly increase tensions and undermine stability.