The Iranian lender has confronted years of Western sanctions over alleged ties to Tehran’s nuclear programme.
Printed On 19 Sep 2026
Turkiye’s banking watchdog has revoked the working licence of Iranian lender Financial institution Mellat’s department within the Turkish metropolis of Istanbul.
“It has been determined to revoke the working licence of Financial institution Mellat, Head Workplace in Tehran, Istanbul Turkey Central Department,” learn the choice by the Banking Regulation and Supervision Company (BDDK), printed within the Official Gazette on Saturday.
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The regulator stated the choice was taken beneath a clause of Turkiye’s banking regulation permitting a financial institution’s licence to be revoked or withdrawn if its continued operation is deemed to pose a danger to depositors’ rights or to the safety and stability of the monetary system.
Financial institution Mellat has been topic to Western sanctions for years over accusations that Tehran was pursuing a nuclear weapon beneath the duvet of a civil nuclear programme.
These sanctions have been lifted as a part of a landmark 2015 deal between Tehran and world powers to curb Iran’s nuclear ambitions. Nonetheless, america unilaterally pulled out of the settlement in Could 2018, reimposing financial sanctions on the nation.
Financial institution Mellat was hit by additional US and Gulf sanctions in 2019 after being named as one in every of 25 entities linked to Iran’s Islamic Revolutionary Guard Corps (IRGC).
The Turkish discover didn’t cite the US measures or specify operational points.
Earlier this month, the US Treasury Division imposed sanctions on a small Turkish funding financial institution and two subsidiaries over alleged ties to Iran.
The Treasury Division accused Golden World Yatirim Bankasi Anonim Sirketi (Golden World Financial institution) of facilitating “tens of hundreds of thousands of {dollars}’ price of transactions for the Islamic Revolutionary Guard Corps-Qods Pressure” and offering the Iranian authorities with banking entry to maneuver its funds internationally.
Golden World Financial institution has denied the accusations.
