The Central Bank imposes a 1.82 million dirham fine on a foreign bank branch
ABU DHABI, 6 JULY / WAM / The Central Bank of the United Arab Emirates decided to impose a fine on a branch of a foreign bank licensed in the country, amounting to 1,820,000 dirhams, in accordance with Federal Decree Law No. (6) of 2025 regarding the Central Bank and the regulation of financial establishments and activities and insurance businesses.
The financial fine was imposed based on the results of inspections conducted by the Central Bank, during which they showed the branch’s failure to issue a debt certificate within the specified period of seven days, which is considered a violation of the regulations and standards related to market behavior and consumer protection issued by the Central Bank.
The Central Bank, through its supervisory and regulatory tasks, works to ensure that all banks, their leaders and employees adhere to the legislation in force in the country, and to the regulations and standards approved by it, in a way that enhances the transparency and integrity of the banking sector and protects the country’s financial system.
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