Turkey Cancels License of Iranian "Mellat" Bank

Ankara - Afaq News - The Turkish Banking Regulation and Supervision Agency has revoked the operating license of the Iranian Mellat Bank branch in Istanbul, according to a decision published today, Saturday, in the official gazette, at a time when the United States is intensifying its economic pressure on Tehran.

The announcement stated, "It has been decided to revoke the operating license of Mellat Bank, headquartered in Tehran, for its central branch in Istanbul, Turkey," without mentioning the American measures or any operational issues faced by the bank.

The decision was based on a provision in Turkish banking law that allows for the revocation or withdrawal of a bank's license if its continued operation is deemed a risk to the rights of depositors or the security and stability of the financial system.

According to specialized data, Mellat Bank provides financial support to the Iranian government, which is one of its largest shareholders. The bank began its operations in Turkey more than four decades ago and has branches in Istanbul, Ankara, and Izmir, aiming to facilitate trade exchange and joint projects between the two countries.

The assets of the bank's branch in Turkey amounted to approximately 41 million euros (about 45 million dollars) by the end of 2025.

The decision comes in the context of increasing American pressure on institutions linked to Iran, and the U.S. Treasury Department had imposed sanctions in September on the Turkish investment bank Golden Global and its two subsidiaries, suspected of having ties to the Iranian Revolutionary Guard.

The Treasury Department also mentioned that Turkey and Oman decided to stop flights of the Iranian airline Mahan Air to the two countries, following discussions about compliance with U.S. measures against Iran.

The decision to revoke the license of Melat Bank was added to previous measures and sanctions imposed by the United States, the European Union, and the United Kingdom on the Iranian bank, according to the "Open Sanctions" database that allows tracking of sanctioned entities.