The Central Bank of the UAE (CBUAE) has imposed a financial penalty of Dh5.8 million on an unnamed bank operating within the country. This action follows an examination that uncovered deficiencies in the bank’s anti-money laundering (AML) and counter-terrorism financing (CFT) policies and procedures.
The penalty was levied under Article 14 of Federal Decree Law No. (20) of 2018, which governs AML and CFT measures in the UAE.
This enforcement action is part of the CBUAE’s broader efforts to ensure that financial institutions adhere to the country’s legal and regulatory frameworks, which are designed to maintain the integrity of the financial system.
In recent months, the CBUAE has taken similar actions against other financial entities. For instance, in March 2025, the Central Bank imposed financial sanctions totalling Dh2.62 million on five banks and two insurance companies for non-compliance with reporting procedures required by the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) guidelines.
