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# Lebanon's central bank revokes Bank Saderat Iran's licence as US pressure on Tehran grows
- URL: https://www.theglobalbanker.com/lebanons-central-bank-revokes-bank-saderat-irans-licence-as-us-pressure-on-tehran-grows/
- Published: 2026-10-16T10:43:07.000Z
- Updated: 2026-10-16T10:43:07.000Z
- Description: Governor Karim Souaid says the move sends a clear signal that Lebanon will protect its banking sector, and follows tighter limits on Iran's financial system by the UAE and Turkish central banks.
- Author: TGB Editorial Team
- Tags: Regulations, MENA, #newsroom, #needs-photo

Banque du Liban, Lebanon's central bank, revoked the local licence of Bank Saderat Iran this week, Bloomberg reported. The move comes as the United States increases pressure on countries to cut trade ties with Tehran.

Governor Karim Souaid said in an interview that the step aims to send a clear signal to the world that Lebanon is determined to protect its banking sector from any party that could put it at risk. He added that it follows other regional central banks, such as the UAE Central Bank and the Turkish central bank, tightening restrictions on the Iranian financial system. It also coincides with growing US pressure globally, he said.

## WASHINGTON'S REQUEST AND THE BANK'S FOOTPRINT

Fars news agency reported that the US Treasury Secretary had earlier asked Lebanese government officials, in a meeting, to cooperate in closing Bank Saderat Iran and revoking its licence.

According to Fars, the bank had no large-scale activity in Lebanon, and its relationship with the Lebanese banking system was not active. The agency said the bank's activities had for many years been limited to the level of an exchange office.

## EARLIER US ACTION AGAINST THE BANK

The US Treasury's Office of Foreign Assets Control (OFAC) has amended the Iranian Transactions Regulations to cut off Bank Saderat, one of Iran's largest government-owned banks, from the US financial system.

The US has described Bank Saderat as a significant facilitator of Hezbollah's financial activities and a conduit between the Iranian government and Hezbollah, Hamas, the Popular Front for the Liberation of Palestine-General Command and the Palestinian Islamic Jihad. Separately, Washington has formally tied Hezbollah to Iran under US sanctions law, which could raise the cost of doing business with the group.

## COMPLIANCE PRESSURE ON LEBANESE AUTHORITIES

The central bank has taken earlier steps on sanctioned entities. Its Circular 170, issued on 14 July 2025, barred licensed institutions from transacting with AQAH and similar sanctioned or unlicensed entities.

Analysts argue that a shadow economic ecosystem undermines Lebanon's financial integrity, deterring foreign banks from working with the Lebanese banking sector for fear of contamination by sanctioned or unregulated activity. The Financial Action Task Force has also placed Lebanon on its gray list for money laundering and terrorism financing.

## CRISIS BACKDROP AND REFORM PLANS

Lebanon's financial backdrop is the 2019 crash, after which the local currency has dropped 98% in value and most Lebanese cannot access their deposits. Bank losses are estimated at $76 billion.

Lebanon's new central bank governor has said commercial banks must recapitalise, merge or be closed, as he outlined plans for reviving the paralysed financial system. He said small depositors would be prioritised in recovering their funds.

*Related: [Banque du Liban appointed Nassib Ghobril as new chief economist](https://www.theglobalbanker.com/banque-du-liban-appointed-nassib-ghobril-as-new-chief-economist/)*