The Central Bank of the UAE (CBUAE) has fined a branch of a foreign bank Dh600,000 for failing to comply with market conduct and consumer protection regulations. The penalty, issued under Article 137 of Federal Decree Law No. 14 of 2018, follows findings from routine examinations by the central bank, which revealed that the bank had violated consumer protection standards.
The CBUAE said the measure aims to uphold transparency and integrity in the country’s banking sector and enforce existing regulations effectively. The bank’s identity has not been disclosed.
The action mirrors earlier enforcement steps this year. In early July, the central bank fined another foreign bank branch Dh5.9 million for anti‑money‑laundering breaches under Federal Decree Law No. 20 of 2018. In late May, two separate foreign branches faced fines totalling Dh18.1 million for similar AML failings.
