German finance regulator bans Bank Melli Iran from issuing loans

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 organization 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.

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