🔸 Turkey’s Banking Regulation and Supervision Authority revoked the license for Bank Melli Iran’s branch in Istanbul.

🔸 The decision was published in Turkey’s Official Gazette on Saturday, 28 Shahrivar.

🔸 In the notice, the name of Bank Melli’s headquarters branch in Istanbul is mentioned, but it does not explain the specific reason for the revocation of the license or any link to U.S. sanctions measures.

🔸 Based on a Reuters report, the supervisory bodies cited a clause of Turkey’s Banking Law aimed at protecting depositors and maintaining the stability of the country’s financial system.

According to Turkey’s Banking Law, a bank’s operating license may be revoked if it is determined that the bank’s continued operations pose a risk to the rights of depositors or to the security and stability of the financial system.

🔸 Bank Melli operated in Turkey for 44 years. The revocation of its license occurs as the United States seeks broader efforts to restrict financial networks accused of supporting Tehran.

🔸 The U.S. Treasury Department earlier this month sanctioned a small Turkish investment bank and two companies affiliated with it.