UAE Central Bank fines foreign bank $163,000 for non-compliance
The sanction follows examinations carried out by the CBUAE, which found that the branch had failed to meet the requirements set out in the Market Conduct and Consumer Protection Regulations and Standards.
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In a statement, the CBUAE reaffirmed its commitment to ensuring all banks and their employees comply with UAE laws and the regulatory framework established by the Central Bank. These efforts are aimed at safeguarding transparency and upholding the integrity of the banking sector and the broader financial system.
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