Turkey Revokes Operating License of Iran’s Bank Mellat

News Desk
ANKARA: Turkey has officially revoked the operating license of Bank Mellat, one of Iran’s largest private financial institutions, terminating its operations in the country after a span of 44 years.
The decisive regulatory action was enforced by the Turkish banking authority early in the morning, targeting the bank’s pivotal branch located in Istanbul.
According to regulatory disclosures, the cancellation of the license was attributed to compliance concerns, specifically citing potential risks posed to the overall stability of the financial system and the protection of consumer rights.
Bank Mellat has historically served as a critical financial conduit for cross-border trade and economic transactions between the neighboring countries, navigating complex geopolitical landscapes for decades.
This unexpected development carries substantial economic and diplomatic implications, potentially restricting bilateral trade corridors and financial exchanges between Ankara and Tehran.
Observers note that the move aligns with Turkey’s tightening financial compliance frameworks and adherence to stringent international regulatory standards regarding foreign banking institutions operating within its borders.
In the wake of the revocation, financial analysts anticipate further administrative directives concerning the liquidation of assets and the handling of existing customer accounts tied to the Istanbul branch. Meanwhile, officials from both nations are expected to engage in diplomatic channels to address the ramifications of the sudden closure on regional commerce.