Turkish Banking Regulator Revokes Bank Mellat's Istanbul Branch License After 44 Years

Turkey's Banking Regulation and Supervision Agency, BDDK, in a decision dated September 18, 2026, decision No. 11572, published in the country's official gazette, revoked the operating license of Bank Mellat's central Istanbul branch. According to EcoIran, citing Fararu, on September 20, 2026 (29 Shahrivar 1405), the decision was made under Article 71 of Turkey's banking law, which allows license revocation under specific circumstances, including risk to depositor rights or the safety and stability of the financial system. Bank Mellat's Istanbul branch had operated since 1982 and was one of Iran's oldest banking presences in Turkey. The official text of the BDDK decision did not state a specific reason, and Reuters reported that Turkey's official notice did not cite US sanctions or operational problems as a direct cause.