Iranian Mellat Bank loses license
Turkish authorities have revoked the operating license of the Iranian Mellat Bank branch in Istanbul, according to a notice published in the Official Gazette. The decision is based on a provision in Turkish banking law that allows for the cancellation of bank licenses if their continued operation is believed to pose a risk to depositors' rights or the security and stability of the Turkish financial system. This measure aims to protect the financial system from potential risks and is part of Turkey's regulatory actions to enhance the security of the local financial system.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)