The Central Bank of the UAE has imposed a Dh200 million fine on an authorized foreign bank branch over recurring anti-money laundering violations. Individual fines of Dh500,000 and Dh300,000 were also issued against the bank's CEO and compliance head, respectively. Regulators mandated independent remediation and a Fit and Proper reassessment of branch leadership.
The Central Bank of the UAE has imposed a financial penalty of AED 200 million on a licensed branch of a foreign bank over AML and compliance failures. Personal fines were also levied on the institution's chief executive officer and compliance head. The regulator ordered an independently validated remediation programme and executive re-assessments.
The Central Bank of the UAE has imposed a Dhs200 million penalty on an unnamed foreign bank branch over repeated failures in anti-money laundering and sanctions compliance. The regulator also levied personal fines against the bank's CEO and compliance head, and ordered a mandatory remediation programme.
The UAE Ministry of Human Resources and Emiratisation, alongside the Central Bank of the UAE and Al Etihad Payments, expanded the upgraded Wage Protection System. Seven additional financial institutions joined the network, bringing the total to 17 partner institutions offering paperless payroll via secure APIs.
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