The Central Bank of the UAE (CBUAE) has imposed a substantial fine of AED 18.1 Million on two foreign bank branches operating within the country. These financial sanctions were issued in accordance with the UAE’s anti-money laundering laws.
The penalties follow thorough examinations by the CBUAE, which revealed multiple violations and non-compliance with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, as well as related regulations. As a result, one bank was fined AED 10.6 million, while the other received a penalty of AED 7.5 million.
The Central Bank emphasized that these measures are part of its broader mandate to ensure that all financial institutions and their personnel strictly adhere to national laws and regulatory standards. The authority continues to uphold the integrity of the country’s financial system by reinforcing transparency and preventing financial crime.
