Central Bank sanctions Milli Iran branches in UAE
A regulatory committee at the Central Bank of the United Arab Emirates has enforced strict measures on the branches of Mali Iran Bank operating within the country, due to their violations of Emirati laws and regulations related to anti-money laundering, anti-terrorism financing, and the financing of proliferation of weapons. Inspections resulted in the prohibition of all financial transactions between the bank's branches and Iran, including trade financing and money transfers, in order to ensure the safety and integrity of the UAE's financial system. These measures are part of the Central Bank's efforts to enhance oversight, protect the financial system from risks, and comply with the highest international standards.
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