How OFSI will assess licence applications involving designated Iranian banks

OFSI has published a new FAQ explaining how it will assess licence applications involving the five designated Iranian banks covered by HM Treasury's new licensing guidance.

The FAQ confirms that applications will continue to be assessed on a case-by-case basis, but licences will generally only be granted where required by law or in exceptional and urgent circumstances, such as risks to life, environmental safety, essential regulatory payments, asset preservation, or the wind-down of operations.

Read the FAQ.

Read the full guidance.

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