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Change in execution of incoming/outgoing transactions, which are directly or indirectly related to any trade and/or investment activity involving Iranian persons and organizations

December 7, 2018

 

Dear clients,

ProCredit Bank (Bulgaria) EAD is a responsible financial institution and is in compliance with the international financial and embargo sanctions imposed on different countries and persons, including the re-imposed sanctions on Iran dated 05 November 2018. In this regard we would like to kindly inform You that the Bank does not execute incoming/outgoing transactions, which are directly or indirectly related to any trade and/or investment activity involving Iranian persons and organizations. We would like to pay attention to the fact that on 05 November 2018 the Office of Foreign Assets Control (OFAC) of the United States re-imposed new restrictions in regard to trade and/or investment activity with Iran. Part of the sanctions involves all international companies, which have any business relations with Iranian legal entities, regardless the fact that the respective relations with Iran are indirect or via using a mediator. 

 

Sincerely,

ProCredit Bank (Bulgaria) EAD