Türkiye Cancels Iran’s Bank Mellat Licence in Istanbul

Türkiye’s banking regulator has revoked the operating licence of Iran’s Bank Mellat branch in Istanbul.

The Banking Regulation and Supervision Agency (BDDK) announced the decision in a notice published in Türkiye’s Official Gazette on Saturday, September 19, 2026.

According to the regulator, the licence was revoked under a provision of Türkiye’s banking law that allows authorities to withdraw a bank’s licence if its continued operation is considered a risk to depositors’ rights or the security and stability of the financial system.

Bank Mellat has faced Western sanctions for years over allegations concerning Iran’s nuclear programme. The sanctions were eased following the 2015 nuclear agreement between Iran and world powers, but the United States withdrew from the agreement in 2018 and restored economic sanctions against Tehran.

In 2019, Bank Mellat was also targeted by additional US and Gulf sanctions after being identified among entities allegedly linked to Iran’s Islamic Revolutionary Guard Corps (IRGC).

However, Türkiye’s latest notice did not specifically mention US sanctions or cite any operational problems at the bank.

The move comes shortly after the US Treasury Department imposed sanctions on a Turkish investment bank and two of its subsidiaries over alleged links to Iran. The bank, Golden Global Bank, has denied the allegations.

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