Dubai: A UAE bank has been hit with financial sanctions by the UAE Central Bank for gaps in its internal anti-money laundering processes.
The regulator imposed the penalty after after ‘assessing the findings of an examination’ done by it, which revealed the bank failed to comply with Anti-AML and related policies.
“The financial penalty has been imposed The CBUAE, through its supervisory and regulatory mandates, works to ensure that all banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE,” said a statement.
The bank’s identity has not been revealed.
Joseph Maliakan Seven months of January to July 2025 , witnessed an unprecedented 334 incidents…
Muscat : Set to take place in Muscat this October, the 2025 edition of the…
Dubai: ADNOC Gas has entered into a 10-year agreement to supply liquefied natural gas (LNG)…
Joseph Maliakan In a great relief to political, social and human rights activists in the…
By Joseph MaiakanThe Enforcement Directorate ( ED ) the long arm of the Modi government…
Muscat: The Indian School Al Seeb (ISAS) community is deeply saddened by the passing of…
This website uses cookies.