October 16, 2026
I present the news in a professional journalistic style, divided into clear and coherent paragraphs:
This week, the Bank of Lebanon officially canceled the license of the “Bank Saderat Iran,” representing a step to remove one of the most prominent Iranian banks from the local banking sector. This step coincides with Washington’s escalation of its campaign aimed at isolating Tehran financially and pushing countries to cut off their trade and banking relations with it.
So far, the Bank of Lebanon has not issued any detailed clarification regarding the mechanism for implementing the decision, especially with regard to the fate of branches, accounts, deposits, and employees, as well as the specific time limit for ending the existing operations that give the bank its legal cover for doing business in Lebanon.
It is noteworthy that “Bank Saderat” is considered one of the largest Iranian state-owned banks, and its presence in Lebanon dates back to 1962. Its activity was limited to its five branches in Verdun, Ghobeiry, Burj el-Barajneh, Baalbek, and Sidon, in addition to a staff of about 70 employees, within a limited scope following its isolation years ago from large parts of the local and international banking systems.
This decision cannot be separated from the escalating American campaign to isolate Iran economically, in which Washington threatened countries and banks dealing with Tehran with secondary sanctions and deprived them of access to the dollar-based financial system.
This development came following reports that US Treasury Secretary Scott Besent raised the “Bank Exports” file during his meeting with the Lebanese government delegation in Washington. Despite the absence of an official announcement linking the move directly to an American request, its timing carries political and financial implications that exceed the extent of the bank’s actual activity within the Lebanese market.
It is noteworthy that the US Treasury Department had cut off “Bank Exports” from the US financial system in 2006, accusing it of facilitating the transfer of Iranian government funds to Hezbollah and other organizations, before including it in 2007 on the sanctions lists linked to supporting activities classified as terrorist, with restrictions including the bank and its foreign branches. On the other hand, the bank previously denied these accusations, stressing that its requests for evidence to prove them did not receive any response from the Office of Foreign Assets Control (WAFAC).
This step comes at a time when Lebanon is seeking to restore its relations with the international financial system and restore confidence in its banking sector, in parallel with its negotiations with the International Monetary Fund and efforts to address the losses resulting from the financial collapse and the default on Eurobonds worth about $30 billion in 2020.
The decision carries with it a message stating that Lebanon has begun to respond practically to the intense American pressure to strangle Tehran financially, while the final repercussions will remain dependent on the text of the official decision, the business liquidation mechanism, and the fate of customers and employees.
