2 Hrs
Source:
اقتصاد سكاي نيوز عربية
UAE tightens rules on Bank Melli Iran branches
The Central Bank of the United Arab Emirates has announced the implementation of strict enforcement measures against the branches of Bank Melli Iran in the UAE due to violations related to non-compliance with local laws and regulations, including anti–money laundering and counter-terrorism financing laws. Under Article (168-1-g) of the Federal Decree, all branches of the bank are prohibited from engaging in any financial transactions with Iran, including trade financing and financial transfers, in order to ensure the integrity of the financial system and promote adherence to the highest standards of oversight. This step is part of the Central Bank's efforts to strengthen its supervisory framework and protect the national financial system.
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