CBUAE imposes financial sanctions of AED18.1 million on two branches of foreign banks

WAM
28 May 2025, 18:34 GMT+10

ABU DHABI, 28th May 2025 (WAM) -- The Central Bank of the UAE (CBUAE) imposed financial sanctions on two branches of foreign banks operating in the UAE, amounting to AED10,600,000 for the first bank and AED7,500,000 for the second bank, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations.

The financial sanctions were imposed based on the findings of examinations conducted by the CBUAE, which revealed violations and failures to comply with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations.

The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all banks and their staff, abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.

More Information

null in null

International Business

Section

Trump re-ignites trade war, targets Europe in extraordinary attack

Trump lashes European Union, imposes 50% tariffs

WASHINGTON, DC - U.S. President Donald Trump re-ignited his trade war on Friday with an extraordinary attack on the European Union...

CBUAE imposes financial sanctions of AED18.1 million on two branches of foreign banks

ABU DHABI, 28th May 2025 (WAM) -- The Central Bank of the UAE (CBUAE) imposed financial sanctions on two branches of foreign banks...

EU adopts legal acts to lift economic sanctions on Syria

The EU would lift all restrictive measures related to trade, investment and financing, except those based on security grounds, said...

EU to order members to reduce water consumption FT

Brussels is aiming to cut down water use by at least 10 percent by 2030, according to a draft plan The European Commission is reportedly...

EU to call on members to reduce water consumption FT

Brussels is aiming to cut down water use by at least 10 percent by 2030, according to a draft plan The European Commission is reportedly...

COTE D'IVOIRE-ABIDJAN-AFDB-ANNUAL MEETINGS

(250528) -- ABIDJAN, May 28, 2025 (Xinhua) -- President of the African Development Bank (AfDB) Akinwumi Adesina speaks at the opening...

International

Section