05/11/2018 (Agence Europe) – The European Central Bank, acting as the sole banking supervisor within the euro zone, decided on Monday 5 November to withdraw the licence from the Maltese bank Pilatus Bank, the decision taking effect on the same day. This decision comes four months after a request from the Maltese prudential authority (see EUROPE 12053), approved by the European Banking Authority. Pilatus Bank has been accused of carrying out illegal transactions for the benefit of prominent Azeri and Maltese figures by investigative Maltese journalist Daphne Caruana Galizia, murdered just over a year ago. In March, the American courts arrested the Iranian president of the Maltese bank, Ali Sadr Hashemi Nejad, on suspicion of money laundering and sanctions violations (see EUROPE 12053). (MB)