Hamdan bin Mohammed issues a decision regarding foreign banks operating in Dubai

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, in his capacity as Chairman of the Executive Council of the Emirate of Dubai, issued Executive Council Resolution No. 101 of 2024 approving administrative violations and fines for foreign banks operating in the Emirate of Dubai.

The decision, which stipulates the approval of administrative violations and fines for foreign banks, contributes to raising the level of compliance among foreign banks operating in the Emirate of Dubai, by establishing solid standards for responsible governance in the banking system.

The decision shall be published in the Official Gazette, and shall be effective from the date of its publication.