In compliance 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, the Central Bank of the UAE (CBUAE) has declared that the branches of Bank Melli Iran operating in the UAE will face stringent enforcement measures. These actions have been taken in response to infractions pertaining to non-compliance with the laws, rules, and supervisory rulings that are currently in effect in the United Arab Emirates, including the obligations and requirements outlined in the legislation pertaining to the prevention of money laundering, the financing of terrorism, and the financing of proliferation.
It has been decided to forbid all branches of Bank Melli Iran operating in the UAE from carrying out any financial transactions to and from Iran, including trade finance and fund transfers, based on the findings of the examinations and in compliance with the authority granted to the Governor of the Central Bank of the UAE under the relevant laws and regulations. In order to protect the stability and integrity of the financial system in the United Arab Emirates and to guarantee that financial institutions and entities under its supervision adhere to the highest standards of compliance in accordance with pertinent international best practices and standards, the Central Bank keeps improving its supervisory framework and taking the required actions.
Also Read:
According to Gargash, UAE Investments in Africa are Close to $150 Billion
Before the French Team, Sheikh Sultan Emphasises Sharjah’s Cultural Significance
About Author
