🔸 Turkish banking supervision and regulation institution revoked the operating license of the branch of Cement Bank Iran in Istanbul.

🔸 Turkish banking supervision and regulation institution revoked the operating license of the branch of Cement Bank Iran in Istanbul.

🔸 This decision was published in the official newspaper of Turkey on Saturday, September 28.

In this announcement, the name of the central branch of Bank Melat in Istanbul is mentioned, but no explanation is given regarding the specific reason for the cancellation of the license or its connection with American sanctions.

🔸 According to the Reuters report, regulatory bodies cited the Turkish Banking Law, which aims to protect depositors and maintain the stability of the country's financial system.

According to the Turkish Banking Law, a bank's license can be revoked if its continued operation is considered a risk factor for depositors' rights or the security and stability of the financial system.

Bank Malat has operated in Turkey for 44 years. The revocation of its license comes as the United States undertakes broader efforts to restrict financial networks accused of supporting Tehran. Earlier this month, the US Treasury Department sanctioned a small Turkish investment bank and two related companies.