The Aporia · Turkiye revokes operating licence of Iran’s Bank Mellat in Istanbul

Turkiye’s Banking Regulation and Supervision Agency revoked the operating licence of Iran’s Bank Mellat in Istanbul, citing a clause that allows revoking licenses if operations pose risks to financial stability. The decision was published in the Official Gazette on Saturday but did not specify any operational issues or refer to US sanctions against Bank Mellat.

Written by AI on 2026-09-19, from this article's own text only (the story summary below draws on all the coverage).

Story summary

The Banking Regulation and Supervision Agency (BDDK) in Turkey revoked Bank Mellat's operating licence in Istanbul on Saturday. The decision was published in the Official Gazette, citing that continuing operations could pose risks to depositors' rights or financial system stability. Bank Mellat, headquartered in Tehran, has faced Western sanctions for years due to alleged nuclear weapons development through a civil nuclear program. These sanctions were eased under the 2015 Iran deal with world powers aimed at curbing Iran's nuclear activities. The move by Turkey reflects ongoing concerns about financial ties with sanctioned entities and their potential impact on national security and economic stability.

Written for “Turkey Bans Iranian Bank” on 2026-10-31, grounded in this article and the 0 other(s) covering the same event.

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The Treasury Department accused Golden Global Yatirim Bankasi Anonim Sirketi (Golden Global Bank) of facilitating “tens of millions of dollars’ worth of transactions for the Islamic Revolutionary Guard Corps-Qods Force” and providing the Iranian government with banking access to move its funds internationally.

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Turkiye revokes operating licence of Iran’s Bank Mellat in Istanbul · assertive framing

Turkiye’s banking watchdog has revoked the operating licence of Iranian lender Bank Mellat’s branch in the Turkish city of Istanbul. asserted

watchdog → revoke → Istanbul

“It has been decided to revoke the operating licence of Bank Mellat, Head Office in Tehran, Istanbul Turkey Central Branch,” read the decision by the Banking Regulation and Supervision Agency (BDDK), published in the Official Gazette on Saturday. asserted

decision → decide → Saturday

Recommended Stories list of 3 items- list 1 of 3Trump says Denmark deal gives US security ‘control’ over Greenland - list 2 of 3Trump signs sweeping Russia sanctions over Ukraine war - list 3 of 3Could US pull one-third of troops from Europe? asserted

US → say → Europe

What that would mean The regulator said the decision was taken under a clause of Turkiye’s banking law allowing a bank’s licence to be revoked or withdrawn if its continued operation is deemed to pose a risk to depositors’ rights or to the security and stability of the financial system. asserted

operation → mean → system

Bank Mellat has been subject to Western sanctions for years over accusations that Tehran was pursuing a nuclear weapon under the cover of a civil nuclear programme. asserted

Tehran → pursue → programme

Those sanctions were lifted as part of a landmark 2015 deal between Tehran and world powers to curb Iran’s nuclear ambitions. asserted

sanctions → lift → ambitions

However, the United States unilaterally pulled out of the agreement in May 2018, reimposing economic sanctions on the country. uncertain

States → pull → country

Bank Mellat was hit by further US and Gulf sanctions in 2019 after being named as one of 25 entities linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). asserted

Mellat → hit → Corps

The Turkish notice did not cite the US measures or specify operational issues. asserted

notice → cite → issues

Earlier this month, the US Treasury Department imposed sanctions on a small Turkish investment bank and two subsidiaries over alleged ties to Iran. asserted

Department → impose → Iran

Department → accuse → funds

Golden Global Bank has denied the accusations. asserted

Bank → deny → accusations

Turkiye revokes operating licence of Iran’s Bank Mellat in Istanbul

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