Latest news with #Dh600
Gulf Insider
16-07-2025
- Business
- Gulf Insider
UAE Central Bank Fines Foreign Bank Branch Dh600,000 For Breaching Market Conduct Rules
The Central Bank of the UAE (CBUAE) has imposed a financial penalty of Dh600,000 on a branch of a foreign bank operating in the country, following regulatory violations. The sanction was issued under Article 137 of Decretal Federal Law No. (14) of 2018, which governs the Central Bank and the regulation of financial institutions in the UAE. According to the CBUAE, the decision followed a supervisory examination that found the bank branch had failed to comply with the UAE's Market Conduct and Consumer Protection Regulations and Standards. The Central Bank emphasised that such enforcement action aligns with its broader mandate to uphold transparency and integrity within the local banking system. 'The CBUAE works to ensure that all banks and their staff adhere to UAE laws and regulations to protect the financial system and consumers,' the regulator said in a statement issued on Wednesday, July 16. While the name of the foreign bank has not been publicly disclosed, the fine reflects the CBUAE's continued focus on compliance and accountability within the UAE's financial sector. The penalty is part of the regulator's ongoing efforts to monitor market conduct and ensure that institutions meet high standards of consumer protection and responsible banking practices.
Al Etihad
16-07-2025
- Business
- Al Etihad
UAE Central Bank fines foreign bank branch Dh600,000
16 July 2025 16:51 ABU DHABI (WAM)The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dh600,000 on a branch of a foreign bank operating in the UAE, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its financial sanction is based on the results of the findings of examinations conducted by the CBUAE, which revealed that the branch of the foreign bank had failed to comply with the Market Conduct and Consumer Protection Regulations and Standards. 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.
Khaleej Times
16-07-2025
- Business
- Khaleej Times
UAE: Foreign bank branch fined Dh600,000 for violating consumer protection rules
The Central Bank, through its supervisory and regulatory mandates, aims to ensure that all banks and their employees comply fully with the UAE's laws and regulatory standards Published: Wed 16 Jul 2025, 3:10 PM The Central bank of UAE has imposed a financial sanction of Dh600,000 on a branch of a foreign bank in the UAE. The apex bank did not reveal the name of the bank that has been penalised. The authority imposed the fine after examinations revealed that the branch was not complying with the Market Conduct and Consumer Protection Regulations and Standards. The penalty was imposed on the basis of Article 137 of Decree Federal Law No. 14 of 2018, regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. Earlier, it imposed a financial penalty of Dh5.9 million on a foreign bank branch operating within the country for failing to comply with anti-money laundering regulations. The Central Bank, through its supervisory and regulatory mandates, aims to ensure that all banks and their employees comply fully with the UAE's laws and regulatory standards, the statement read. This is essential to maintain transparency and integrity across financial transactions and to safeguard the stability of the UAE's financial system.
Gulf Insider
26-06-2025
- Business
- Gulf Insider
Illegal Partitioned Rooms, Bed Spaces In Dubai: Safety Risks And The Search For Sustainable Housing Solutions
Crackdown on illegal partitioned rooms and bed spaces is underway, targeting serious safety risks—from fire hazards to blocked emergency exits—in crowded residential buildings, particularly in areas like Deira. Recently, Dubai Municipality, alongside the Dubai Land Department and Civil Defense, has launched intensified inspections across key residential hotspots like Deira, Al Riqqa, Satwa, Al Barsha, and Al Raffa. Their target? Illegal partitioned rooms and bed spaces that pose serious safety risks—from fire hazards to blocked emergency exits—in crowded residential buildings. Partitioned rooms might seem like a quick fix for affordable housing, especially for lower-income residents, but in Dubai, they're a big no-no without official approval. Authorities are taking a firm stand against these unauthorized modifications, emphasizing that safety cannot be compromised for convenience or cost savings. Scroll through Facebook ads for just a few minutes, and you'll find a shadow housing market thriving in plain sight. Partitioned rooms are being rented out for as much as Dh1,400 a month—often just a slice of someone else's living space, separated by thin walls or curtains. In Satwa, a loft bed squeezed above a cupboard in a makeshift room can go for Dh600. It's barely enough space to stand, let alone live. In Deira, partitions can be found for Dh650, sometimes higher if they come 'all in'—meaning free Wi-Fi, DEWA, and maybe a balcony shared with several others. For those chasing affordability, a 'fully closed' partition can go as low as Dh800 in some areas, or Dh700 for a single-person slot. The price varies by location and perks, but the bottom line remains: these setups are often cramped, poorly ventilated, and unregulated. Yet for many low-income workers, these hidden corners of the city are the only option. The question is—how long can this patchwork system go on before safety, dignity, and affordability collide? But the problem isn't confined to old Dubai's jam-packed neighborhoods—it's creeping into the city's most upscale corners. Take Dubai Marina's Jumeirah Beach Residences, for example. A British tenant, living in Dubai since 2008, who requested anonymity, blew the whistle on a four-bedroom apartment in Sadaf illegally converted into a seven-bedroom bunker, crammed with up to 60 people sleeping in bunk beds. Some are renting beds at a bargain Dh100 each, openly advertised on Facebook as a 'holiday home' — without a single permit. This isn't just rule-breaking; it's blatant exploitation and a disaster looming on the horizon. With no proper air conditioning, zero privacy, and fire exits blocked by makeshift bedrooms in utility spaces, the risk isn't hypothetical—it's a disaster waiting to happen. The consequences could be catastrophic. As Dubai cracks down on illegal partitions, the conversation around affordable and safe housing for low-income workers is reaching a boiling point. The challenge goes beyond enforcement—it calls for bold, creative solutions that balance dignity, safety, and economic realities. Some experts suggest government-backed subsidized housing schemes tailored for workers earning less than Dh2,000 a month. Imagine safe, regulated homes within the city that don't cost a fortune but meet strict safety standards—a real alternative to cramped, unsafe rooms. Developers could also play a key role – Builders can include affordable, purpose-built accommodations in their projects, creating a long-term fix rather than a quick patch. Meanwhile, flexible shared housing models—legal co-living spaces with privacy and safety—could offer a modern, community-driven solution that respects workers' needs and budgets. For those who can't afford Dubai rents, relocating to more affordable cities on the outskirts is an option—but the long commute poses a significant challenge. Some have proposed transport subsidies or dedicated shuttle services to ease the burden on workers' time and finances. As Dubai continues to grow and transform, safe and affordable housing for its workforce is no longer optional—it's urgent. The crackdown on illegal partitions exposes a deeper crisis that needs real solutions. With smart enforcement, bold innovation, and public awareness, Dubai can build safe, inclusive, dignified homes for everyone who powers the city's success.
Time of India
23-06-2025
- General
- Time of India
They were warned: Dubai municipality target illegal room partitions in residential neighborhoods
Illegal partitions in Dubai raise evacuation risks during emergencies, prompting authorities to enforce building regulations strictly. (Representational image) Dubai authorities have intensified efforts to eliminate illegal partitioned rooms in residential buildings across several densely populated neighborhoods. The Dubai Municipality (DM) has launched an inspection campaign aimed at removing unauthorized structural modifications inside apartments, which pose serious safety risks to residents. Focus on High-Density Areas According to a statement shared with a local news outlet, Dubai Municipality, in coordination with the Dubai Land Department and the General Directorate of Civil Defense , Dubai, is conducting field inspections targeting multi-storey residential buildings across the emirate. The campaign focuses specifically on neighborhoods known for their dense populations, including Al Rigga, Al Muraqqabat, Al Barsha, Al Satwa, and Al Raffa. 'Dubai Municipality, in coordination with the Dubai Land Department and the General Directorate of Civil Defense , Dubai, carried out a field inspection campaign encompassing several multi-storey residential buildings across the emirate,' the statement said. 'The campaign targets densely populated areas, including neighbourhoods such as Al Rigga, Al Muraqqabat, Al Barsha, Al Satwa, and Al Raffa.' Advance Warnings and Awareness Efforts The municipality emphasized that prior warnings were issued to building owners to ensure compliance before inspections began. 'Building owners had been formally informed about the need to abide by the rules through letters,' the statement added. This campaign also strengthens direct communication with property owners to raise awareness about the risks posed by illegal or unapproved structural changes , whether temporary or permanent. The municipality highlighted the importance of adhering to building codes and the necessity of removing any partitions or modifications that do not comply with regulations. In Dubai, tenants and landlords are legally required to obtain approvals before making any internal modifications or partitions in residential units. Affordable Housing Versus Safety Risks Partitioned rooms serve as an affordable accommodation option, especially for low-income residents in Dubai. On various websites and social media platforms, partitioned rooms are advertised starting from as low as Dh600 per month, making them an accessible choice for many residents. However, Dubai Municipality cautioned that this practice 'violates regulations' and 'poses a direct threat' to the safety of those living in such units. 'Such alterations raise the risk of serious incidents such as fires and hamper swift evacuation during emergencies,' the statement explained. 'The campaign ultimately aims to prevent dire incidents related to unauthorised internal modifications in buildings and to raise awareness among property owners and tenants about the importance of complying with building laws and guidelines issued by the relevant authorities. ' Part of Ongoing Safety Measures Across the Emirates The crackdown on illegal partitions is part of a sustained effort to maintain high safety standards in residential buildings. Similar actions have been taken in other emirates, where illegal room partitions and sharing of villas were banned in the early 2000s, and regular inspections continue to ensure compliance. The municipality also noted that the campaign helps in maintaining the 'optimal upkeep of public infrastructure' and curbing 'random subletting' and other unauthorized practices. 'It ultimately aims to prevent dire incidents related to unauthorised internal modifications in buildings and to raise awareness among property owners and tenants about the importance of complying with building laws and guidelines issued by the relevant authorities,' the statement concluded. What This Means for Residents and Property Owners Residents and landlords are urged to cooperate with authorities by removing any illegal partitions and obtaining the necessary approvals for any modifications. This move safeguards residents' safety and helps maintain the structural integrity of buildings. Dubai's crackdown reflects its ongoing commitment to public safety and orderly urban living, balancing the need for affordable housing options with strict adherence to building safety regulations.
