Iran-controlled bank did not meet the National Bank’s requirements.
The National Bank of Belarus (NBB) has suspended for one year Trade Capital Bank's license to take deposits from legal entities and individuals, BelaPAN says.
In addition, the Iranian-owned bank controlled by Bank Tejarat will not be allowed to issue payment cards, issue bank guarantees and securities to deposit holders and provide factoring services during the suspension period, the NBB press office said.
“The decision was made as a result of Trade Capital Bank failing to comply with the requirement to fix its violations of Belarusian law as well as in order to protect interests of the bank’s creditors,” says the NBB statement, Bloomberg informs.
The press office explained that the bank had failed to fulfill the National Bank's order to correct irregularities.
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