Türkiye’s Banking Regulation and Supervision Agency (BDDK) has revoked the operating license of Iranian lender Bank Mellat’s Istanbul main branch, according to a decision published in the Official Gazette on Sept. 19.
The regulator’s board adopted the decision on Sept. 18 under Article 71(1)(b) of Banking Law No. 5411.
The provision allows the regulator to revoke a bank’s license when its continued operations threaten the rights of depositors and participation fund holders, as well as confidence and stability in the financial system.
The Tehran-based lender began operating in Türkiye on April 16, 1982, through its Istanbul main branch, following Cabinet approval in 1981.
It later opened branches in Ankara in 1985 and İzmir in 1992.
According to the bank’s website, its Turkish operations provided financial services supporting trade and joint projects between Türkiye and Iran.
