Foreign bank penalised for violating UAE regulations
The penalty follows an inspection by the Central Bank, which found violations of UAE banking standards.
The action was taken under Article 137 of the Federal Law No. 14 of 2018, governing financial institutions.
Authorities say the move is part of ongoing efforts to uphold transparency and integrity across the country's financial sector.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
3 hours ago
- Gulf Business
UAE Central Bank fines foreign bank $163,000 for non-compliance
The 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. Read: 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.
Al Etihad
3 hours ago
- Al Etihad
UAE: SCA issues advisory for investors against dealing with certain companies
17 July 2025 16:25 ABU DHABI (ALETIHAD)In a notice issued on Thursday, the SCA has advised the investing public to refrain from dealing with certain companies, as they are not licensed to conduct financial activities or provide services regulated by the are strongly encouraged to verify the licensing status of any entity before engaging in any financial transactions. - Sigma one capital- Sigma wealth world financial -Sigma One Cap Marketing ServicesThe SCA bears no responsibility for any transactions or dealings conducted with unlicensed companies, the statement added. The decision was taken on the basis of the regulatory role of the Securities and Commodities Authority (SCA) to ensure sound transactions and protect investors in accordance with the provisions of the Federal Law No. (4) Of 2000 concerning the Emirates Securities and Commodities Authority and Market and the regulations issued thereunder, and pursuant to the Chairman of the SCA Board of Directors' Decision No. (9/R.M) of 2017 concerning the Controls for Publishing Warnings.
Web Release
8 hours ago
- Web Release
Al Hamra lance deux projets résidentiels : Al Hamra Greens et Aila Homes, d'une valeur combinée de 3 milliards d'AED
Al Hamra, the leading lifestyle developer and real estate investment company in Ras Al Khaimah, has officially launched two landmark residential developments Al Hamra Greens and Aila Homes — with a combined investment value exceeding AED 3 billion. The launch event, held on 5th July at Madinat Jumeirah, Dubai, welcomed over 1,000 brokers and industry stakeholders. Located in Al Hamra Village, both projects highlight the developer's focus on design-led, high-quality living. Al Hamra Greens is a wellness-centric community inspired by Scandinavian design and rooted in the philosophy of 'Reconnect with Living.' Located opposite RAK Central, it offers breathtaking views of RAK's urban hub, the Al Hamra Championship Golf Course, and Wynn Al Marjan Island. The project comprises 1,754 apartments in 1 to 3 bedroom layouts, all with private balconies for seamless indoor-outdoor living. Starting from AED 1.2 million, the development boasts an array of amenities including lush gardens, BBQ terraces, paddle tennis and basketball courts, jogging and cycling tracks, kids' play zones, a pet park, a wellness spa, and a gym with panoramic views. Over 38% of the project sold out within 24 hours of launch. Aila Homes, launched alongside, features 200 upscale 3- and 4-bedroom townhouses with modern architecture, spacious layouts, private gardens, and direct access to community facilities. With more than 50% sold before the official launch, Aila Homes reflects strong demand for ready-to-move family homes in the emirate. Benoy Kurien, Group CEO of Al Hamra, said: 'These launches respond directly to growing customer demand for meaningful, nature-rooted lifestyles and community living. They mark a key milestone in Al Hamra's growth journey and our commitment to delivering value-driven developments. Residents of both communities will benefit from the wider Al Hamra ecosystem, including a championship golf course, a 220-berth marina, and luxury hospitality assets like Waldorf Astoria, The Ritz-Carlton, Sofitel, and Al Hamra Village Hotel & Residences. Looking ahead, Al Hamra is expanding into ultra-luxury with Waldorf Astoria Residences, Ras Al Khaimah, The Ritz-Carlton Residences, Al Wadi Desert, and it's first Dubai project, reinforcing its position as a key player in the UAE's real estate sector.
