Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence for the UAE, has enacted Executive Council Resolution No. (101) of 2024 in his role as Chairman of Dubai’s Executive Council.
This Resolution introduces measures to identify foreign banks operating in the emirate that violate administrative regulations and outlines penalties for these breaches.
Focusing on administrative violations and corresponding fines for such banks, the Resolution seeks to strengthen adherence to regulations within the banking sector by promoting high standards of responsible governance and compliance.
