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Malta's Pilatus Bank set to lose banking licence
By EUobserver
The European Banking Authority (EBA) chairman, Andrea Enria, has backed a recommendation by the Maltese financial regulator to withdraw the Pilatus Bank's banking licence due to "the current circumstances of the bank's ultimate beneficial owner," reported Reuters. The owner, Ali Sadr Hashemi Nejad, was indicted in the United States in March for bank fraud, money laundering and the evasion of sanctions against Iran.