Honk Kong Lifts Curbs on MB
Economy, Business And Markets

Honk Kong Lifts Curbs on MB

The Monetary Authority of Hong Kong on Friday lifted the restrictions imposed on Melli Bank Plc (MB) in respect of the affairs, business and property of its Hong Kong Branch (MBHK).  MB is incorporated in the United Kingdom (UK) and is a subsidiary of Bank Melli Iran (BMI). Hong Kong imposed the restrictions on MB back in 2008, after considering the respective decisions of the Council of the European Union and the UK to introduce financial sanctions against MB and BMI. With the lifting of financial sanctions against MB and BMI by the EU and the UK earlier this year, the circumstances and considerations leading to the imposition of the restrictions no longer exist. Under the restrictions, MBHK was barred from engaging in new business including the taking of new deposits in Hong Kong except with the prior approval of the country’s Monetary Authority.


Short URL : http://goo.gl/pHoXpW
  1. http://goo.gl/XcRVxn
  • http://goo.gl/sIFkRl
  • http://goo.gl/yNiRhG
  • http://goo.gl/Nudtqf
  • http://goo.gl/6M8MPZ

You can also read ...

Windfall Taxation on Gold Coin, Forex Trading
Government is to levy taxes on gold coin and foreign currency...
BMW, Mercedes Boxed in  by Tariff Battles
US President Donald Trump’s escalating trade spat threatens to...
China Auto Firms to Set Up Ride-Sharing Platform
Chinese firms FAW Group, Dongfeng Automobile and Chongqing...
Iran Could Join Russia’s Regional Payment Network
Russia is looking to establish a regional payment network in...
Challenges Ahead for Banking System
The chief executive of Bank Refah said limited overseas...
Non-Oil Exports From Shahid Rajaee Port Grow 3.8%
Non-oil exports from the southern Shahid Rajaee Port during...
Exports From Fars Province Hit $1.3b
Exports from Iran’s southern Fars Province saw a 25% rise...
IMIDRO Concludes Largest Aerial Geophysical Survey
Iran’s largest mining holding has concluded the last stage of...