The Central Bank of the UAE has levied a financial penalty of AED 600,000 (USD 164,000) on a branch of a foreign bank operating within the country.
This action was taken after the Central Bank conducted a review and determined that the bank branch had breached regulatory requirements related to anti-money laundering and the countering of terrorist financing and unlawful organisations.
The CBUAE stated that the branch had failed to meet compliance obligations under its anti-money laundering and counter-terrorism financing regulations.
In its official statement, the Central Bank emphasised that through its supervisory and regulatory functions, it ensures that all licensed financial institutions in the UAE—including banks—adhere to national laws and CBUAE standards, while continuously improving their transparency and risk management systems.
