Turkey’s banking regulator revoked the operating licence of Bank Mellat’s Istanbul branch. Reuters and Türkiye Today identified the decision as dated 18 September and published in the Official Gazette on 19 September. The action ends the Iranian lender’s authority to operate through the branch.
The reports said the decision relied on provisions permitting 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. The reports independently identified the branch and decision date. Neither report described a phased withdrawal period.
REGULATOR INVOKES SYSTEMIC-SAFETY PROVISIONS
The legal basis centres on risks to depositors and the stability of the financial system. It does not by itself establish a specific loss or misconduct finding against the bank. The two reports paraphrased the regulator’s statutory basis and did not report a specific loss or misconduct finding against the bank.
Reuters placed the decision in the context of US measures involving Iran. The reported official notice did not state that external pressure was the reason for the revocation. Any causal link to US policy therefore remains context rather than an official explanation.
BRANCH CLOSURE REQUIRES OPERATIONAL FOLLOW-THROUGH
Loss of the licence prevents the branch from continuing ordinary banking business in Turkey. Customers and counterparties will need formal information on the handling of accounts, claims and outstanding transactions. The reports did not provide a complete wind-down timetable.
The next milestone is publication of operational instructions from the regulator, branch or liquidating authority. A retrievable official notice would also clarify the decision’s precise scope and any appeal route. Until then, reporting should not assign a motive beyond the stated statutory basis.