Turkish regulators have officially canceled the operating license for Bank Mellat, an Iranian financial institution that has maintained a presence in Istanbul for years. The decision marks a significant shift in the operational status of the bank, which has long been a focal point of international concern due to its alleged links to Tehran's nuclear development program.

Bank Mellat has faced various Western sanctions over the past decade, complicating its ability to conduct international business. While Turkish officials have not provided a detailed public justification for the immediate revocation of the license, the move aligns with broader international pressures regarding Iranian financial entities. The bank has not yet issued a formal statement regarding the closure of its Istanbul branch or the impact on its existing clients in the region. This development follows years of intermittent regulatory pressure on the bank, which has struggled to maintain its footprint in Turkey amid shifting geopolitical alliances and tightening global financial oversight.