Banque Du Liban Governor Karim Souaid confirmed on 15 October 2026 the decision to revoke the banking license of Bank Saderat Iran. The move effectively ends the operations of the Iranian-owned financial institution within Lebanon. Governor Karim Souaid stated that the regulatory action was necessary to "protect Lebanon’s banking sector from sanctions-related risks." This official revocation follows a formal review of the bank's compliance status. No further details regarding the immediate liquidation process for Bank Saderat Iran were provided by the central bank at this time.
Historical Presence and Operations
Bank Saderat Iran established its initial operations in Tehran in 1952 before expanding into Lebanon in 1962. The institution maintained a presence across the country for over six decades. Records from 2022 show the bank operated five specific branches in Lebanon: Ghobeiry, Baalbek, Verdun/Ras Beirut, Bourj al Barajneh, and Sidon.
Financial data provided by the Association of Banks in Lebanon (ABL) indicates the scale of the firm's local holdings prior to the license revocation. The Association of Banks in Lebanon reported that Bank Saderat held 165.3 billion Lebanese pounds in assets as of December 2016. These figures represent the documented financial standing of the entity during that period of its Lebanese operations.
International Sanctions and Pressure
The US Treasury excluded Bank Saderat from the American financial system in September 2006. This action restricted the institution's ability to participate in US dollar transactions. Subsequently, the US Treasury designated Bank Saderat under Executive Order 13224 in October 2007. This designation identified the bank as a party providing financial services to entities linked to regional activities. International pressure regarding the institution continued into the following decade. The European Union reimposed sanctions against Bank Saderat in September 2025. These measures aligned with broader international efforts to restrict the bank's access to external financial networks. The cumulative effect of these designations influenced the regulatory environment surrounding the bank's operational status in Lebanon.
Allegations of Financial Support
The US Treasury accused Bank Saderat of moving $50 million from the Central Bank of Iran to its Beirut branch between 2001 and 2006. These funds were allegedly intended for Hezbollah front organizations. The US Treasury specified that these transfers were directed through the bank's Lebanese operations.
Regulatory scrutiny involving entities linked to Iranian financial activities continued into 2026. The US Treasury designated the gold-trading company Jood in February 2026. This action against Jood SARL occurred alongside ongoing international efforts to monitor financial networks operating within the region. These developments reflect the stated concerns regarding the flow of capital to sanctioned groups through various local institutions.
Diplomatic Meetings and Rationale
US Treasury Secretary Scott Bessent held discussions with Lebanese Prime Minister Nawaf Salam and Finance Minister Yassin Jaber on 28 September 2026. The meeting brought together the American official and the two Lebanese leaders to address financial oversight within the country. These diplomatic engagements preceded the regulatory decision by Banque Du Liban to revoke the license of Bank Saderat Iran. Officials focused on the regulatory environment governing financial institutions operating in Lebanon. The discussions between Scott Bessent, Nawaf Salam, and Yassin Jaber occurred as part of a series of administrative reviews regarding banking compliance. These talks concluded weeks before the formal announcement by Governor Karim Souaid concerning the closure of the Iranian-owned bank’s local operations.
