Bank Melli Iran
Iranian state-owned commercial bank, founded 1928 in Tehran; under US sanctions since 2007.
Last refreshed: 17 October 2026 · Appears in 1 active topic
When sanctions shut Bank Melli's Iraqi branch, where did its money go?
Timeline for Bank Melli Iran
US blacklists an Iraqi bank over Iran
Iran Conflict 2026Linked to the designated Dubai national
Iran Conflict 2026: Treasury widens net as UN watch lapsesBackground
Bank Melli Iran resurfaced in the US Treasury's 15 October 2026 action against Iran's banking channels into Iraq. Treasury said the Baghdad-based International Development Bank for Investment and Finance absorbed Bank Melli's Iraqi capital when the sanctioned branch next door closed. The designation came 15 days after the last US troops left Erbil. In August, Operation Economic Outcast had already listed a Dubai-based Iranian national, Reza Mohammad Taeedi, as linked to the bank.
Bank Melli, The National bank, began operating in 1928 under Reza Shah and is headquartered on Ferdowsi Street in Tehran. It is state-owned. Washington sanctioned it in October 2007, alleging services to Iran's nuclear and missile programmes, and the European Union froze its assets in June 2008.
The bank is a marker for how Iranian money moves once a branch is shut: Treasury's case is that the capital did not leave Iraq but changed hands to a local bank.
What is Bank Melli Iran?
Why is Bank Melli Iran in this sanctions update?
Was Bank Melli Iran newly designated on 28 August?
What happened to Bank Melli's branch in Iraq?
Why is Bank Melli Iran sanctioned by the US?
Who is Reza Mohammad Taeedi?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 17 October 2026. Editorial standards.