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Story summary
- Turkey's Banking Regulation and Supervision Agency revoked Bank Mellat’s Istanbul central branch licence.
- The agency invoked Article 71b of Banking Law No. 5411 because of depositor and stability risks.
- Bank Mellat, Tehran-based with the Iranian government as largest shareholder, faces US, EU, UK sanctions.
- In September, the U.S. Treasury sanctioned Turkish Golden Global Yatirim Bankasi and two subsidiaries for facilitating IRGC transactions.