🔶 After 44 years, Turkey revoked the operating license of Bank Malat of Iran

The Turkish Banking Regulatory and Supervision Organization (BRSA) has revoked the operating license of the Istanbul branch of the Iran Cement Bank after more than four decades. This body that supervises Turkish banks announced that the reason for this decision is "a possible risk to the continued operation of the bank for the depositors and financial stability".

The decision of this body was published on Saturday September 28 (September 19) in the Turkish media, including "Türkiye Today". Turkey Today writes that the activities of one of the largest commercial banks in Iran have been suspended in this country at the same time as the American sanctions worsened.

Bank Malat began its operations in Turkey in the early 1980s and was present in Izmir and Ankara in addition to Istanbul. According to the data of the Turkish Banks Association, at the end of 2025 this bank had approximately 41 million euros in assets and 39 employees in this country. Bank Mallat's total assets in Iran were declared to be $34.8 billion by March 2026.