Business & Finance
Turkish regulator revokes operating license of Iranian lender Bank Mellat in Istanbul
Al Jazeera reports that Turkiye revoked the operating license of Bank Mellat's Istanbul branch over risk concerns.
The short version
- Turkiye's banking regulator, the BDDK, has revoked the operating license for the Istanbul branch of Iran's Bank Mellat.[Al Jazeera]
- The official decision cited legal clauses regarding risks to depositors' rights and financial stability, rather than specific US sanctions.[Al Jazeera]
- Bank Mellat has a history of facing Western sanctions due to alleged connections to Iran's nuclear program and the Islamic Revolutionary Guard Corps.[Al Jazeera]
Key facts
- Turkiye's Banking Regulation and Supervision Agency revoked the operating license of Bank Mellat's Istanbul central branch.[Al Jazeera]
- The revoked license decision was published in the Official Gazette on Saturday.[Al Jazeera]
- The regulator based the decision on banking law provisions regarding risks to depositors or financial stability.[Al Jazeera]
- The official Turkish announcement did not state operational issues or explicitly reference US measures.[Al Jazeera]
What remains uncertain
- The official decision did not specify precise operational failures or direct links to recent foreign sanctions.[Al Jazeera]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.