🔻 License for the operations of Bank Melli’s branch in Istanbul canceled

According to reports by news agencies, the Turkish Banking Regulation and Supervision Agency (BDDK) has revoked the license for the operations of the Iran’s Bank Melli branch in Istanbul.

The move comes at the same time as the United States pressures other countries to increase economic pressure on Tehran.

In a statement published on Saturday in Turkey’s Official Gazette, it said: “It was decided that the license for the operations of the head branch of Bank Melli in Turkey’s Istanbul would be revoked.”

According to Reuters, the text of the statement does not mention actions by the United States or any specific operational problem, but it states that the decision was made based on a clause of Turkey’s banking law; a clause that allows a bank’s license to be canceled or withdrawn if it is determined that the continued operation of a bank would endanger the rights of depositors or the security and stability of the financial system.

Earlier this month, the U.S. Treasury imposed sanctions on a small Turkish investment bank and its two subsidiaries.

The U.S. Treasury Department also said that Turkey and Oman, following talks with these two countries about compliance with U.S. measures against Iran, decided to halt flights by Mahan Air to their countries.

Hashtags: ["BBC Persian"]