The UAE Central Bank has been cracking down on regulatory violations. Photo: UAE Central BankThe UAE Central Bank has been cracking down on regulatory violations. Photo: UAE Central BankThe entity was found to have violated the regulator's market conduct and consumer protection regulations and standardsThe NationalJuly 06, 2026
The UAE Central Bank fined a foreign bank branch $490,000 for failing to issue a liability letter within the mandated seven-day period.
The regulator did not disclose the name of the bank.
The UAE Central Bank has issued penalties ranging from hefty fines to licence revocations and suspensions on onboarding new customers.
The Central Bank aims "to ensure that all banks, their leadership, and their employees adhere to UAE laws, as well as the regulations and standards", the regulator said.
