With an 18 September decision by banking regulator BDDK, the operating license of Iran-based Bank Mellat's Istanbul Türkiye Main Branch was revoked under Article 71 of the Banking Law; the decision was published in the Official Gazette. New Welfare Party leader Fatih Erbakan criticized it.
The decision is based on the justification that, as a result of inspections, the bank's ongoing operations pose a danger to the rights of depositors and the stability of the financial system. Erbakan argued that the practice would complicate trade with Iran and increase production costs.