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Turkiye revokes operating licence of Iran’s Bank Mellat in Istanbul
The Iranian lender has faced years of Western sanctions over alleged ties to Tehran’s nuclear programme. Turkiye’s banking watchdog has revoked the operating licence of Iranian lender Bank Mellat’s branch in the Turkish city of Istanbul.
AI Summary
Turkiye’s banking regulator revoked the operating licence of Bank Mellat’s Istanbul branch. The Iranian lender has been subject to Western sanctions for years over alleged links to Tehran’s nuclear programme. The licence revocation removes the bank’s ability to conduct business in Istanbul. No further actions or penalties were mentioned.
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