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Turkish Financial Regulators Revoke Istanbul License of Iran's Bank Mellat
Just the facts
The Banking Regulation and Supervision Agency of Turkiye revoked the commercial license authorizing Bank Mellat to conduct banking operations from its Istanbul office. Bank Mellat has been subject to multiple rounds of Western economic sanctions over allegations concerning financial ties to Tehran's nuclear program. Turkish authorities did not publicly outline specific regulatory violations prompting the operational shutdown. Bank Mellat was among the few Iranian financial institutions maintaining direct branch operations inside a NATO member country.
Why this is news
Banking regulators in Turkiye cancelled the operating license for the Istanbul branch of Iran's state-linked Bank Mellat.
Sources
This summary is compiled strictly from the original reporting below.