UAE Central Bank sanctions Bank Melli Iran over compliance violations
The Central Bank of the UAE has announced the imposition of strict enforcement measures against the branches of Bank Melli Iran operating in the UAE, in accordance with Article (168-1-C) of Federal Decree-Law No. (6) of 2025 regarding the Central Bank, Regulation of Financial Institutions and Activities, and Insurance Business. These measures have been taken as a result of violations related to…
The Central Bank of the UAE has imposed severe restrictions on Bank Melli Iran's branches operating within the country, citing violations of financial regulations. This decision follows non-compliance with existing laws, including those aimed at preventing money laundering, terrorism financing, and proliferation financing. The Central Bank has prohibited all Bank Melli Iran branches in the UAE from engaging in any financial transactions, both inbound and outbound, with Iran, including trade finance and fund transfers.
These measures are part of the UAE's ongoing efforts to maintain the integrity of its financial system and ensure that financial institutions comply with the highest standards of compliance, aligning with international best practices.
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- UAE Central Bank bars Bank Melli Iran from conducting transactions thenationalnews.com
- UAE central bank sanctions local branches of Iran’s Bank Melli timesofisrael.com
- Central bank official rates of banking metals as of September 24 en.interfax.com.ua
