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German regulator BaFin orders liquidation of Iran’s Bank Saderat Hamburg branch due to sanctions
Germany's financial regulator BaFin has ordered the liquidation of the Hamburg branch of Bank Saderat Iran, citing sanctions and the bank's failure to address legal requirement violations. BaFin had previously revoked the branch's license last year, and a Hamburg court appointed a liquidator last month. The branch had 13 employees and 62.4 million euros ($70.16m) in assets.
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