CBUAE imposes financial sanction of Dhs3 million on bank
The sanctions result from the CBUAE's examinations, which revealed the bank's failure to comply with the Central Bank instructions, which stipulated in the Decree Federal Law No. (20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments.
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks and their staff, abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.
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