Turkey’s banking regulator revoked the operating licence of Bank Mellat’s Istanbul branch. The decision, dated 18 September, was published in the Official Gazette on 19 September. The action ends the Iranian lender’s authority to operate through the branch.
The BDDK cited Article 71(b) of the Banking Law, which permits revocation where continued operation threatens depositors’ rights or financial-system security and stability. Bank Mellat had operated in Turkey for 44 years, according to Türkiye Today.
REGULATOR INVOKES SYSTEMIC-SAFETY PROVISIONS
The legal basis centres on risks to depositors and the stability of the financial system. The notice did not identify any specific operational problems at Bank Mellat.
Reuters placed the decision in the context of US measures involving Iran. The BDDK notice did not cite US measures.
SANCTIONS BACKDROP
Bank Mellat is subject to US, European Union and UK sanctions. Earlier in September, the US Treasury sanctioned Turkish investment bank Golden Global and two of its subsidiaries over alleged links to Iran.