Turkiye revokes operating licence of Iran's Mellat Bank amid US measures
Caption: Representational image.
Turkiye’s BDDK banking watchdog revokes the operating licence of Iranian lender Mellat Bank’s branch in Istanbul, citing a notice published in the Official Gazette, as the US presses other countries to increase economic pressure on Tehran.
“It has been decided to revoke the operating licence of Bank Mellat, Head Office in Tehran, Istanbul Turkiye Central Branch,” the notice said, without citing the US measures or any operational issues.
It says the decision was taken under a clause of Turkiye’s banking law, which allows a bank’s licence to be revoked or withdrawn if its continued operation is deemed to pose a risk to depositors’ rights or the security and stability of the financial system.–Reuters