The Central Bank of the UAE has issued major financial penalties against two foreign bank branches operating in the country.
The first bank was fined AED 10.6 million, while the second faces a penalty of AED 7.5 million.
This comes after examinations by the Central Bank uncovered violations of anti-money laundering laws and failures to comply with regulations on combating the financing of terrorism and illegal organisations.
The names of the banks involved have not been disclosed by the authority.
In a statement, the Central Bank said it remains committed to ensuring that all banks and their employees follow national laws and uphold the highest standards of transparency, compliance and financial integrity.
The #CentralBankUAE 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…
— Central Bank of the UAE (@centralbankuae) May 28, 2025
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