Iran’s banking sector has been hit by a cyberattack that temporarily crippled electronic services at four of the country’s largest state-owned lenders. The disruption, which began on Saturday, affected Bank Melli, Bank Tejarat, Bank Saderat, and Tosee Saderat, impacting online banking, mobile apps, ATMs, and point-of-sale terminals. The Coordinating Council of Iranian Banks described the incident as a ‘limited cyberattack’ targeting shared communications infrastructure, and insisted that customer data remained secure. State media and officials confirmed the attack, while technical teams deployed preventive measures and activated backup systems.

By Sunday, services had begun to return. Iran’s Informatics Services Company reported that card transactions for Tejarat and Saderat were normalised, with daily card transfer limits set at 1.5 billion rials. Bank Melli was still experiencing difficulties, and Tosee Saderat branches were offering essential services in person. The swift official acknowledgement — unusual for such incidents — reflects the severity of the outage and the regime’s sensitivity to economic instability at a time of heightened public frustration.

The cyberattack unfolded as diplomatic channels in the region stirred back to life. A Qatari delegation arrived in Tehran on Sunday, coordinated with Washington, to help finalise a memorandum of understanding between Iran and the United States. Yet conflicting signals emerged: a source close to Iran’s negotiating team told the IRGC-affiliated Fars news agency that no final decision had been taken on the text, while prominent regime adviser Mohammad Marandi bluntly declared on social media that ‘no other negotiations are on the table for now.’ Separately, Israeli warplanes struck targets in southern Beirut, underscoring the volatile regional backdrop against which any US-Iran understanding would be tested.

Viewed from Western capitals, the cyberattack serves as a reminder of Iran’s vulnerability to asymmetric threats, even as it projects power through proxies. Analysts in London note that the targeting of financial infrastructure — without data theft — could be a calibrated message of capability. Meanwhile, the Qatari shuttle diplomacy signals that despite the rhetorical hardening, both Tehran and Washington see a pathway to de-escalation. However, parliamentary speaker Mohammad Bagher Ghalibaf’s statement that the US ‘either lacks the will or the ability’ to implement commitments reveals deep mistrust that could unravel any tentative accord.

The coming days will test Iran’s ability to reassure its population while navigating a maze of external pressures. The restoration of banking services, if sustained, may calm immediate nerves, but the cyberattack has exposed fragilities that Iran’s adversaries are likely to probe further. Diplomatically, the Qatari mission may yet produce a breakthrough — but with Israeli military action continuing and the Iranian political establishment divided, the path remains narrow and fraught.