Shea Levin — text status

Türkiye’s banking regulator has revoked the operating license of Iranian state-owned Bank Mellat’s Istanbul branch, citing risks to the stability of the financial system and formally ending the bank’s operations in the country after more than four decades. Bank Mellat had operated in Türkiye since 1982, but its activities were already heavily restricted following U.S. sanctions, including losing access to SWIFT and Türkiye’s domestic EFT payment system.